ECONOMIC EFFECTIVENESS OF THE USE OF ENERGY STORAGE IN A PROSUMER PHOTOVOLTAIC INSTALLATION

• Published in: Annals of the Polish Association of Agricultural and Agribusiness Economists Vol. XXV; no. 4; pp. 76 - 91
• Main Authors: Gradziuk, Piotr, Us, Anna
• Format: Journal Article
• Language: English
• Published: Polish Association of Agricultural and Agribusiness Economists 30.11.2023
• Subjects: energy storage; farm; levelized costs of electricity; NPV; prosumer photovoltaic installation; renewable energy sources
• ISSN: 2657-781X; 2657-7828
• DOI: 10.5604/01.3001.0054.0878

The purpose of the article is to evaluate the economic efficiency of electricity generation in a prosumer photovoltaic installation supported by energy storage billed in the net-billing model. The subject of the study was a comparative analysis for two variants, i.e. 1) reference (photovoltaic installation only) and 2) hybrid (supported by energy storage). The Levelized Costs of Electricity (LCOE), Net Present Value (NPV) and Dynamic Pay Back Time (DPBT) methods were used to evaluate it. The object of the study was a dairy farm, where a prosumer photovoltaic system with a capacity of 19.62 kWp was installed along with an energy storage of 10 kWh. The study shows that with the current billing system in place, the unit cost of electricity generation in the reference variant was more than 40% lower than the value calculated in this way for a photovoltaic system equipped with energy storage. The simulation carried out for dynamic tariffs, which will be in operation from July 01, 2024, showed that the use of energy storage can favorably affect the economic efficiency of photovoltaic installations, but it requires the installation of a smart energy balance management system.