Life Cycle Cost Optimization of Battery Energy Storage Systems for BIPV-Supported Smart Buildings: A Techno-Economic Analysis

Building-integrated photovoltaic (BIPV) systems coupled with energy storage systems offer promising solutions to reduce the dependency of buildings on non-renewable energy sources and provide the building sector with environmental benefits by reducing the buildings’ environmental footprint. Hence, the economic viability of such energy systems must be further assessed, particularly regarding the market price and required initial investments. This paper aims to evaluate the net present cost (NPC) and saving-to-investment ratio (SIR) of the electrical storage system coupled with BIPV in smart residential buildings with a focus on optimum sizing of the battery systems under varying market price scenarios. Therefore, a parametric energy model of a residential building, a life cycle cost analysis approach, and a Monte Carlo analysis are carried out to elaborate the dynamism between the storage size, market price, and net present cost of the system over its life cycle. The results provide a decision-support tool to find the cost-optimum size of the battery systems and to realize the interplay between the battery system size, the market price, and the economic feasibility of the electrical storage system coupled with residential BIPV. In more detail, the results reveal that the economic viability thresholds of the battery systems’ market price are in the range of 250–300 €/kWh depending on the chosen life cycle cost indicators, while the cost-optimum size of the battery systems varies noticeably according to the market price of battery systems. Furthermore, the paper provides insight to designers, policymakers, manufacturers, and the market for developing scenarios to accelerate the implementation of energy storage systems in the building sector.