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Method for Sizing of a PV System for Family Home Using Economic Indicators

Author

Listed:
  • Zvonimir Šimić

    (Faculty of Electrical Engineering, Computer Science and Information Technology, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia)

  • Danijel Topić

    (Faculty of Electrical Engineering, Computer Science and Information Technology, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia)

  • Ilija Crnogorac

    (Croatian Transmission System Operator, 31000 Osijek, Croatia)

  • Goran Knežević

    (Faculty of Electrical Engineering, Computer Science and Information Technology, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia)

Abstract

This paper presents a method for finding an optimal photovoltaic (PV) system according to Croatian legislation. The PV sizing model, in which a decision on investment is made according to economic indicators, is made using MATLAB Software. Based on the input data, the monthly PV system production is calculated, and electricity price formed. According to the PV system production and electricity price, economic indicators are calculated and obtained as output data. The model input data are solar irradiation, load diagram, PV system costs and market price of electricity while the model output data are PV system production, savings, profit, incomes, Net Present Value (NPV) and Levelized Cost of Electricity (LCOE). The obtained economic indicators are presented graphically and used for decision making on an optimal PV system size. The presented model is applied and presented in a case study.

Suggested Citation

  • Zvonimir Šimić & Danijel Topić & Ilija Crnogorac & Goran Knežević, 2021. "Method for Sizing of a PV System for Family Home Using Economic Indicators," Energies, MDPI, vol. 14(15), pages 1-18, July.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:15:p:4529-:d:602232
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    References listed on IDEAS

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    1. Breen, M. & Upton, J. & Murphy, M.D., 2020. "Photovoltaic systems on dairy farms: Financial and renewable multi-objective optimization (FARMOO) analysis," Applied Energy, Elsevier, vol. 278(C).
    2. Huang, Pei & Sun, Yongjun & Lovati, Marco & Zhang, Xingxing, 2021. "Solar-photovoltaic-power-sharing-based design optimization of distributed energy storage systems for performance improvements," Energy, Elsevier, vol. 222(C).
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    Cited by:

    1. Dariusz Kurz & Agata Nowak, 2023. "Analysis of the Impact of the Level of Self-Consumption of Electricity from a Prosumer Photovoltaic Installation on Its Profitability under Different Energy Billing Scenarios in Poland," Energies, MDPI, vol. 16(2), pages 1-40, January.
    2. Nurul Hiron & Nundang Busaeri & Sutisna Sutisna & Nurmela Nurmela & Aceng Sambas, 2021. "Design of Hybrid (PV-Diesel) System for Tourist Island in Karimunjawa Indonesia," Energies, MDPI, vol. 14(24), pages 1-24, December.
    3. Ludwik Wicki & Robert Pietrzykowski & Dariusz Kusz, 2022. "Factors Determining the Development of Prosumer Photovoltaic Installations in Poland," Energies, MDPI, vol. 15(16), pages 1-19, August.

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