Techno-economical analysis of Vanadium redox and Lead-acid batteries in stand-alone photovoltaic systems

Sizing and techno-economical analysis of a stand-alone photovoltaic generation system with different energy storage is presented in this paper. The method adopted is based on the Loss of power supply probability and levelized cost of energy concepts. A new energy storage technology of Vanadium redox battery was applied in photovoltaic power system, which was compared to traditional Lead-acid battery from their physical characteristics and economical efficiency. And the mathematical models of photovoltaic, Vanadium redox battery, Lead-acid battery are developed. Simulation results show that the techno-economical of Vanadium redox battery was prior and fit for long-term energy storage.