Title :
Economic analysis for demand-side hybrid photovoltaic and battery energy storage system
Author :
Su, Wei-Fu ; Huang, Shyh-Jier ; Lin, Chin-E
Author_Institution :
Dept. of Electr. Eng., Nat. Cheng Kung Univ., Tainan, Taiwan
Abstract :
This paper examines the cost analysis of a hybrid photovoltaic and battery energy storage system (PV-BESS) for demand-side applications in southern Taiwan, R.O.C. The forms of input data and output data for three different investment plans are proposed and discussed. A sensitivity analysis to understand those affecting parameters to the investment is also investigated. The analysis results can support the users with a tradeoff among economic, operational and environmental factors. This paper establishes a potential and practical tool for cost analysis of most energy conversion applications
Keywords :
battery storage plants; costing; demand side management; investment; photovoltaic power systems; power system economics; sensitivity analysis; PV-BESS; cost analysis; demand-side hybrid PV/battery energy storage power system; economic analysis; economic factors; energy conversion applications; environmental factors; input data; investment plans; operational factors; output data; sensitivity analysis; Batteries; Costs; Energy storage; Environmental economics; Environmental factors; Investments; Photovoltaic systems; Power generation economics; Sensitivity analysis; Solar power generation;
Journal_Title :
Industry Applications, IEEE Transactions on
