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The Future of Energy Storage : Investment Evaluations Regarding Energy Storage Systems Connected to PV Systems

by Oskar; Hgstrm Lindberg

Institution:	Uppsala University
Department:
Degree:
Year:	2017
Keywords:	ESS; PV; Energy Storage Systems; Photovoltaic systems; Pay-off time; Investment evaluations; Tesla Powerwall; Solar Power; Li-ion; Lithium ion batteries; Financial calculations; Electrical Engineering, Electronic Engineering, Information Engineering
Posted:	2/1/2018 12:00:00 AM
Record ID:	2179842
Full text PDF:	http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-324587

Abstract

An ever-decreasing cost of photovoltaics (PV) combined with generous installation subsidies lead to a growth of PV systems in Sweden. A large-scale penetration of PV power would make Energy Storage Systems (ESS) interesting for providing back-up storage, enabling flexibility and regulating intermittence. ESS represents a vital link between electrical supply and demand, and moreover a critical feature for increasing the use and attractiveness of renewable and intermittent energy sources. The purpose of this study is to do a quantitative analysis examining the most beneficial way to store electricity from PV regarding investment cost, life span, capacity and pay-off time. The study object is Valstraskolan, a school in Uppsala with an existing PV system. The thesis shows that Lithium-ion batteries are the best prospected battery type but still not an economically profitable investment. With the current grid- and battery prices the most suitable battery solution has a pay-off time of 125 years. If the school would extend their PV system to cover all preferable roof areas, the pay-off time would be 48 years. If ESS are to become attractive from a financial point of view, the grid prices would have to increase and the cost for ESS decrease substantially.