Photovoltaic and Solar-Thermal Use Case Application Comparison with Witness Simulation and DCF Analysis

Abstract

In this work, we investigate a system of solar and thermal heat collectors in combination with local and electric net storage. The system is implemented in a Witness Horizon simulation model, allowing for the investigation and scenario analysis of different use cases. In a practical industrial application example use-case, using simulation and Discounted Cash Flow (DCF) analysis, the economic feasibility of the best system variant could be calculated. The developed model includes the local consumption and production profile and it was evaluated by a DCF model after the dynamic energy modelisation with the generic industrial production system simulation software WITNESS Horizon. This model can be in future further extended to generic and more complex production systems, simultaneously integrating the DCF cost evaluation analysis and following direct economic optimisation as well as integrating it with the production portfolio theory approach by integrating diversified virtual production market aspects and market goal-oriented optimisation.