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Pregled bibliografske jedinice broj: 1249444

ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM


Jurčević, Jura; Zoričić, Davor; Dolinar, Denis
ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM // Book of Abstracts of the 3rd International Conference on the Economics of the Decoupling
Zagreb, Hrvatska, 2021. str. 43-44 (predavanje, međunarodna recenzija, sažetak, znanstveni)


CROSBI ID: 1249444 Za ispravke kontaktirajte CROSBI podršku putem web obrasca

Naslov
ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM

Autori
Jurčević, Jura ; Zoričić, Davor ; Dolinar, Denis

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
Book of Abstracts of the 3rd International Conference on the Economics of the Decoupling / - , 2021, 43-44

Skup
3rd International Conference on the Economics of the Decoupling

Mjesto i datum
Zagreb, Hrvatska, 30.11.2021. - 01.12.2021

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
internal rate of return, mixed-integer linear optimization, multiple revenue streams, aggregators

Sažetak
The increasing need to support the growth and integration of Renewable Energy Sources (RES) in the power systems due to the trend of increasing electricity consumption and climate change concerns has led to the introduction of demand- and supply-side flexibility. The terms are accompanied by the new market players: Distributed Energy Resources (DERs) and aggregators, on which the successful implementation of the concepts relies. The mentioned innovations are of particular importance in the EU due to the establishment of the EU Energy Union and provide a motivation to review and further enhance studies related to economic viability of technologies which are associated with the changing power system environment. In this research we focus on the battery system storage technology paired with photovoltaic (PV) system, as a popular power generation source, in order to examine the potential profitability. We use data for the German power market related to the day-ahead, intraday and frequency containment reserve (FCR) prices and load data for 50 industrial plants for peak shaving purposes to assess the profitability under real-life assumptions of possible multiple revenue streams. Based on the collected data we perform optimization with the goal to maximize annual profit of the system and assume the constant cash flows for the remaining battery life (under 5.000 cylces battery lifetime assumption) in order to calculate the internal rate of return (IRR) as a relative measure of the investment profitability. We examine whether an optimal (IRR maximising) level of investment exists given various installed battery capacities, C-rates and battery and PV systems power. Our findings corroborate earlier studies regarding the lower optimal C-rate, but we do not report an optimal battery capacity or battery and PV systems installed power. The results of our research seem to point that the lack of optimality regarding the installed battery capacity can be traced to the grid fees in the German power market which prevent the profits from arbitrage activities in the markets. Also, the pattern of the RES production and the peak demand in the power market in UK and Germany may contribute to the different results obtained in our study. Further research should focus on integrating the IRR calculation directly in the optimization method and on examining more closely the profitability of battery storage and PV systems separately in order to more precisely determine the sources of potential annual profits.

Izvorni jezik
Engleski

Znanstvena područja
Elektrotehnika, Ekonomija



POVEZANOST RADA


Projekti:
EK--KK.01.1.1.04.0034 - Umreženi stacionarni baterijski spremnici energije (USBSE) (Pandžić, Hrvoje, EK ) ( CroRIS)

Ustanove:
Ekonomski fakultet, Zagreb

Profili:

Avatar Url Denis Dolinar (autor)

Avatar Url Davor Zoričić (autor)

Avatar Url Jura Jurčević (autor)


Citiraj ovu publikaciju:

Jurčević, Jura; Zoričić, Davor; Dolinar, Denis
ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM // Book of Abstracts of the 3rd International Conference on the Economics of the Decoupling
Zagreb, Hrvatska, 2021. str. 43-44 (predavanje, međunarodna recenzija, sažetak, znanstveni)
Jurčević, J., Zoričić, D. & Dolinar, D. (2021) ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM. U: Book of Abstracts of the 3rd International Conference on the Economics of the Decoupling.
@article{article, author = {Jur\v{c}evi\'{c}, Jura and Zori\v{c}i\'{c}, Davor and Dolinar, Denis}, year = {2021}, pages = {43-44}, keywords = {internal rate of return, mixed-integer linear optimization, multiple revenue streams, aggregators}, title = {ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM}, keyword = {internal rate of return, mixed-integer linear optimization, multiple revenue streams, aggregators}, publisherplace = {Zagreb, Hrvatska} }
@article{article, author = {Jur\v{c}evi\'{c}, Jura and Zori\v{c}i\'{c}, Davor and Dolinar, Denis}, year = {2021}, pages = {43-44}, keywords = {internal rate of return, mixed-integer linear optimization, multiple revenue streams, aggregators}, title = {ECONOMIC VIABILITY OF BATTERY STORAGE AND PV SYSTEM}, keyword = {internal rate of return, mixed-integer linear optimization, multiple revenue streams, aggregators}, publisherplace = {Zagreb, Hrvatska} }




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