Abstract
It is well known that the use of photovoltaic (PV) systems helps to preserve the environment, produce lower levels of greenhouse gases (GHGs), and reduce global warming, however, whether it is economically profitable for customers or not is highly debatable. This paper aims to address this issue. To be comprehensive, three different types of buildings are considered as case studies. Then, these three buildings are modeled in EnergyPlus to determine the rate of energy consumption. Afterward, comparisons of various solar system sizes based on economic parameters such as the internal rate of return, the net present value, payback period and profitability indexing for various-sized PV systems are carried out. The results show that by the demand charge tariffs, using PV systems has no economic justification. It has been shown that even with neglecting further costs of the PV system like maintenance, by demand charge tariffs, it is not economically beneficial for customers to use the PV systems. Profitability index of all three buildings with various PV power systems is between 0.2 to 0.8, which are by no means is desirable. Moreover, it was found that bigger solar systems are less cost-effective in the presence of demand charges.
Highlights
Energy has been one of the most important factors in human progress throughout history.Most energy usage is from non-renewable sources, especially fossil fuels and the consumption of the renewable energy sources is faster than their production speed [1]
Before explaining the results obtained from the simulation, data brief explanation is given about the calibration process of the energy models, afterwards economic parameters are investigated in details for both states in the presence of the PV systems
Energyplus based on the inputs, which consist of the geometry of a building, climate condition, and some other related parameters, can analyze the building, and calculate the energy usage of a building
Summary
Most energy usage is from non-renewable sources, especially fossil fuels and the consumption of the renewable energy sources is faster than their production speed [1]. Dependence on the fossil fuels will increase greenhouse gas (GHG) emissions, air pollution and global warming, and continuing this process may cause serious natural disasters [3]. Electricity is a versatile type of energy that can be controlled and transported. This unique feature of electricity has caused the public significantly to rely on it for use in many usual applications. Due to the increasing growth of electric power consumption and its price, many researchers have focused on finding better, cheaper and cleaner ways to generate electricity
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