Grid-Tied Solar Photovoltaic (PV) System with Battery storage : A Brief Techno-Economic Analysis

Most of the world’s electricity is being generated through conventional sources of energy like coal and nuclear. People are realizing the dire effect of using these fuels, and the amount of CO2 being released into the environment. Therefore, in recent year there has been a shift in emphasis towards cleaner ways of generating electricity. One such recent trend is solar photovoltaics (PV), which has seen rapid growth over the years. This ever-increasing trend of adopting PV system allows consumers to be producers or “Prosumers”. Due to the irregular production capability of solar PV, the need for an energy storage system like a battery bank is on the rise as well. This report evaluates how solar PV can be used in combination with a battery bank to supply the annual electricity demand for a household with little to no support from the grid. The building is assumed to be located in Bangalore, India. The energy demand for the household is estimated based on the requirements of a basic Indian house standard. The size and configuration of each component have been done with regards to the total load demand. Furthermore, the cost of the whole system is estimated in order to evaluate the feasibility of the grid-tied system from an economic perspective. The results show that a PV system consisting of four 270W solar panels, a battery bank of eight150Ah lead-acid batteries and a 48V 4kW inverter is required to meet the annual energy demand of the house. The results show that from a technical standpoint, the above-mentioned technology is feasible. The results from the economic evaluation show that the localized cost of energy(LCOE) for the system is ₹6.01/kWh or € 0.078/kWh or 0.84SEK/kWh and the payback time for the given system is 16.19 years. On the bright side, there are new technological advancements in the PV field every day, which could mean that an energy system of this type can be an achievable and practical alternative. Most of the world’s electricity is being generated through conventional sources of energy like coal and nuclear. People are realizing the dire effect of using these fuels, and the amount of CO2 being released into the environment. Therefore, in recent year there has been a shift in emphasis towards cleaner ways of generating electricity. One such recent trend is solar photovoltaics (PV), which has seen rapid growth over the years. This ever-increasing trend of adopting PV system allows consumers to be producers or “Prosumers”. Due to the irregular production capability of solar PV, the need for an energy storage system like a battery bank is on the rise as well. This report evaluates how solar PV can be used in combination with a battery bank to supply the annual electricity demand for a household with little to no support from the grid. The building is assumed to be located in Bangalore, India. The energy demand for the household is estimated based on the requirements of a basic Indian house standard. The size and configuration of each component have been done with regards to the total load demand. Furthermore, the cost of the whole system is estimated in order to evaluate the feasibility of the grid-tied system from an economic perspective. The results show that a PV system consisting of four 270W solar panels, a battery bank of eight 150Ah lead-acid batteries and a 48V 4kW inverter is required to meet the annual energy demand of the house. The results show that from a technical standpoint, the above-mentioned technology is feasible. The results from the economic evaluation show that the localized cost of energy (LCOE) for the system is ₹6.01/kWh or € 0.078/kWh or 0.84SEK/kWh and the payback time for the given system is 16.19 years. On the bright side, there are new technological advancements in the PV field every day, which could mean that an energy system of this type can be an achievable and practical alternative