Abstract
The energy market is tending to be more flexible and therefore the price range of energy might vary a lot over the day. As a result, it might be feasible to consider energy storage systems for private households. This paper presents an average Ontario household case study that will be evaluated on an economical basis. The integration of energy storage systems has many advantage and could play an important role in smart-grids technology. Energy storage systems could save the energy cost depending on the dynamic price levels and also form solar PV panels if available. The presented work in this paper started from a simple basic analysis, presented a simple algorithm, and investigated the economic aspect possibilities. Adding energy storage system to household case is considered at the beginning. Then, the work has been extended to consider the integration of the solar photovoltaic panels/system which is presenting an advanced system which is very interesting to investigate. Also, the savings from self-generated energy, for the considered case study is presented. Finally, the current situation is evaluated and the suggested solutions and possibilities are presented. The role the technology role in the system cost and saving is confirmed and, up to now, the subventions for solar PV systems is still expected for economic feasibility.
Highlights
Since the energy market is tending to get more flexible and the price range of energy over time varies a lot, it is interesting to consider energy storage systems for private households
The annual total costs, calculated using (7), with different energy storage system (ESS)/battery sizes are shown in Figure 5, where the red and blue line represent the annual cost without any system, for the considered test case energy market prices
This paper presented some economic investigations of the integration the solar PV panels with the energy storage systems based on a case study
Summary
Since the energy market is tending to get more flexible and the price range of energy over time varies a lot, it is interesting to consider energy storage systems for private households. Many research papers have been focused on using an energy storage system (ESS) as an add-on to a household that should cover its energy needs from solar PV panels [1]. The main challenge now is the cost of solar PV panels when compared to the energy saving cost. The benefits of the ESS is undeniable, and the main goal is to minimize the cost of consumed energy. Pumped-hydro energy storage is the oldest type and the most efficient ESS available nowadays. The required space and startup cost of the structure is not feasible for a residential size household
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