Assessment of PV excess generation savings in Ghana considering peer-to-peer energy trading

Abstract

ABSTRACT Solar is one of the Renewable (RE) sources with a high electricity generation potential. However, the challenge with using individual stand-alone Photovoltaic (PV) systems is the mismatch between load demands and electricity generated such that surplus and insufficient energy are experienced by prosumers. This study used the Net Present Value (NPV), and levelized cost of energy (LCOE) economic models to assess the impact of modern (peer-to-peer, P2P) trading and applicable PV system cost reduction strategy in Ghana, considering a cluster of stand-alone systems. The energy demand and generations of a total of 7 prosumer and consumer buildings in the Don Bosco Technical Institute, Ashaiman, were used. The results, considering a mini-grid connection between the buildings, showed an LCOE of GH₵ 1.358 over 10 years and NPV of about GH₵ 5 million for 25 years when excess generation is traded as compared to GH₵ 2.423 for LCOE and about GH₵ 180,000 NPV when excess generation is disregarded. A proposed shared investment community-owned system design showed further LCOE reduction to GH₵ 1.122 because the capital cost decreased. This shows that P2P energy trading can make PV generation attractive amidst other benefits like job creation, revenue generation and emissions reduction if RE is used. Lastly, a suitable energy trading market mechanism was proposed for implementing P2P in the context of Ghana. Though the research revealed that more benefits can be obtained from PV systems in Ghana, future technical analysis regarding transmission losses, the Internet of Things (IoTs), and blockchain need to be done.