Profitability Analyses for Residential Battery Investments: A Norwegian Case Study
Abstract
:1. Introduction
2. Electricity Price and Consumption Data
2.1. Electricity Price Data
2.2. Consumption Data
3. Methodology
3.1. Optimization Model
3.2. Profitability Analysis
4. Results and Discussion
4.1. Optimized Load Profile
4.2. Annual Savings
4.3. Profitability Analyses
5. Conclusions
Author Contributions
Funding
Data Availability Statement
Conflicts of Interest
References
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Capacity Step [kW] | Fixed Monthly Fee | Energy Charge Day (06:00–22:00) | Energy Charge Night (22:00–06:00) and Weekend | |
---|---|---|---|---|
Step 1 | 0–2 kW | 125 NOK | 0.4310 NOK/kWh | 0.3685 NOK/kWh |
Step 2 | 2–5 kW | 200 NOK | ||
Step 3 | 5–10 kW | 325 NOK | ||
Step 4 | 10–15 kW | 450 NOK | ||
Step 5 | 15–20 kW | 575 NOK |
Con01 | Con02 | Con03 | Con04 | Con05 | Con06 | Con07 | Con08 | Con09 | Con10 | |
---|---|---|---|---|---|---|---|---|---|---|
Yearly electricity demand [kWh] | 23,773 | 15,028 | 17,548 | 22,581 | 28,151 | 25,011 | 19,482 | 36,188 | 25,608 | 37,078 |
Maximum peak load demand [kWh/h] | 8.62 | 5.70 | 8.74 | 12.63 | 11.88 | 11.72 | 10.67 | 14.36 | 11.84 | 20.13 |
Average peak load demand [kWh/h] | 2.71 ±1.53 | 1.72 ±0.99 | 2.00 ±1.14 | 2.58 ±1.96 | 3.21 ±1.95 | 2.86 ±2.02 | 2.22 ±1.80 | 4.13 ±2.22 | 2.92 ±2.29 | 4.23 ±3.30 |
Pro01 | Pro02 | Pro03 | Pro04 | Pro05 | Pro06 | Pro07 | Pro08 | Pro09 | Pro10 | |
---|---|---|---|---|---|---|---|---|---|---|
PV installation [kWp] | 10 | 2.5 | 4.3 | 7.7 | 9.3 | 8.3 | 3.2 | 9.7 | 3.3 | 3.5 |
Yearly electricity import [kWh] | 10,972 | 10,215 | 19,286 | 20,734 | 20,125 | 14,120 | 19,960 | 22,067 | 16,734 | 11,995 |
Maximum peak load import [kWh/h] | 10.85 | 5.2 | 18.3 | 16.98 | 16.56 | 8.65 | 10.08 | 12.08 | 9.3 | 9.18 |
Average peak load import [kWh/h] | 1.25 ±1.37 | 1.17 ±0.87 | 2.20 ±2.48 | 2.37 ±2.62 | 2.30 ±2.14 | 1.61 ±1.40 | 2.28 ±1.99 | 2.52 ±2.24 | 1.91 ±1.54 | 1.37 ±1.51 |
Yearly electricity export [kWh] | 8128 | 615 | 2303 | 4390 | 2922 | 6151 | 1293 | 4341 | 1313 | 1846 |
Maximum peak load export [kWh/h] | 8.38 | 1.68 | 3.19 | 6.60 | 6.47 | 8.60 | 2.28 | 7.88 | 2.49 | 2.58 |
Average peak load export [kWh/h] | 0.93 ±1.89 | 0.07 ±0.21 | 0.26 ±0.60 | 0.50 ±1.27 | 0.38 ±0.91 | 0.70 ±1.63 | 0.15 ±0.39 | 0.50 ±1.37 | 0.15 ±0.39 | 0.21 ±0.51 |
Parameter | Value |
---|---|
Charging efficiency factor | 96.03% |
Discharging efficiency factor | 90.21% |
Minimum battery state of charge | 0 kWh |
Maximum battery state of charge | 10.24 kWh |
Maximum charging power | 10 kW |
Maximum discharging power | 10 kW |
Degradation cost charging | 0.0002 NOK/kWh |
Degradation cost discharging | 0.0002 NOK/kWh |
Parameter | Value |
---|---|
Investment cost | 100,000 NOK |
Economic lifetime | 15 years |
Discount rate | 6% |
Potential Annual Savings [NOK] | Net Present Value [NOK] | Payback Time [years] | ||
---|---|---|---|---|
Consumers | Lowest annual savings (Con01) | 2323 | 77,438 | 44 |
Highest annual savings (Con04) | 3344 | 67,522 | 30 | |
Average annual savings (Con01–Con10) | 2808 | 72,728 | 36 | |
Prosumers | Lowest annual savings (Pro02) | 2385 | 76,836 | 42 |
Highest annual savings (Pro06) | 4295 | 58,286 | 24 | |
Average annual savings (Pro01–Pro10) | 3481 | 66,192 | 29 |
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Nygård, H.S.; Ottesen, S.Ø.; Skonnord, O.H. Profitability Analyses for Residential Battery Investments: A Norwegian Case Study. Energies 2024, 17, 4048. https://doi.org/10.3390/en17164048
Nygård HS, Ottesen SØ, Skonnord OH. Profitability Analyses for Residential Battery Investments: A Norwegian Case Study. Energies. 2024; 17(16):4048. https://doi.org/10.3390/en17164048
Chicago/Turabian StyleNygård, Heidi S., Stig Ødegaard Ottesen, and Olav Henrik Skonnord. 2024. "Profitability Analyses for Residential Battery Investments: A Norwegian Case Study" Energies 17, no. 16: 4048. https://doi.org/10.3390/en17164048