Economic Analysis of a Building Integrated Photovoltaic System Without and With Energy Storage

Abstract

Abstract A grid-connected solar photovoltaic (PV) system with energy storage can help in overcoming the intermittency as well as in reducing the peak demand on the network. It also benefits in electricity bills savings. In this context, it is significant to examine the appropriate use of local energy storage (i.e. battery) connected with PV for reducing the energy supply from the grid, and also its contribution in peak demand reduction with more emphasis on reduction in annual consumer electricity bill. In this paper, a techno-economic analysis of Building Integrated Photovoltaic (BIPV) system with energy storage has been presented. A typical South Norwegian house, installed with PV, has been considered for identifying annual electricity bill savings as well as economic indicators by deploying appropriate battery capacity. It has been observed that BIPV with energy storage can be beneficial to the consumer both economically and technically, providing incentives for both consumers and investors. The time-wise limits on electricity consumption from the grid supply can also help to make the BIPV house with energy storage more economically attractive as well as near zero energy building.