IDEAS home Printed from https://ideas.repec.org/a/eee/renene/v236y2024ics0960148124014708.html
   My bibliography  Save this article

The impacts of DC/AC ratio, battery dispatch, and degradation on financial evaluation of bifacial PV+BESS systems

Author

Listed:
  • Kaewnukultorn, Thunchanok
  • Sepúlveda-Mora, Sergio B.
  • Hegedus, Steven

Abstract

As the price of solar modules has decreased, oversizing PV system becomes a general practice. Without proper energy management, the oversized systems could lead to over-generation waste which cause a loss in revenue. Battery energy storage system (BESS) can be integrated to the PV system for utilizing the over-consumption energy and increasing the system’s financial benefits. This paper highlights the influence of technical and financial factors on the photovoltaic (PV) and PV with BESS design. To analyze the impacts of the factors on PV systems, thirty-six system configurations with a variety of geographic locations, tariff structures, billing methods, and PV system technology are simulated using System Advisor Model (SAM) as a tool with result validation from measurements on a real oversized residential grid-tied bifacial PV+BESS system. To study the financial criteria that affect the optimal system design, we conducted the sensitivity analysis of the DC/AC ratio, battery replacement threshold, and battery size to observe the optimal system design based on three financial outputs: levelized cost of energy (LCOE), net present value (NPV), and payback period. The findings show that the optimal DC/AC ratio for residential-scale PV systems lies between 1.1 - 1.3 and can go up to 1.6 with BESS. PV+BESS systems can reduce the payback period by 20% and boost NPV by 80% compared to the PV-only systems. The sensitivity study of the battery replacement shows that the battery can be degraded until 50% of its maximum capacity for the lowest LCOE. To achieve the optimal grid-tied PV system design, each economic parameter should be evaluated together.

Suggested Citation

  • Kaewnukultorn, Thunchanok & Sepúlveda-Mora, Sergio B. & Hegedus, Steven, 2024. "The impacts of DC/AC ratio, battery dispatch, and degradation on financial evaluation of bifacial PV+BESS systems," Renewable Energy, Elsevier, vol. 236(C).
    • Handle: RePEc:eee:renene:v:236:y:2024:i:c:s0960148124014708
    DOI: 10.1016/j.renene.2024.121402
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960148124014708
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.renene.2024.121402?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:renene:v:236:y:2024:i:c:s0960148124014708. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/renewable-energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.