Paper Info
Title
Optimal design and management of a smart residential PV and energy storage system
Abstract
Solar photovoltaic (PV) technology has been widely deployed in large power plants operated by utility companies. However, the home owners are not yet convinced of the saving cost benefits of this technology, and consequently, in spite of government subsidies, they have been reluctant to install PV systems in their homes. The main reason for this is the absence of a complete and truthful analysis which could explain to home owners under what conditions spending money on a PV system can actually save them money over a long-term, but known, time horizon. This paper thus presents a design and management mechanism for a smart residential energy system comprising PV modules, electrical energy storage banks, and conversion circuits connected to the power grid. First, we figure out how much savings can be achieved by a system with given PV modules and EES bank capacities by optimally solving the daily energy flow control problem of such a system. Based on the daily optimization results, we come up with the optimal system specifications with a fixed budget. Experiments are conducted for various electricity prices and different profiles of PV output power and load demand. Results show that the designed system breaks even in 6 years and in the system lifetime achieves up to 8% annual profit besides paying back the budget.
Year
DOI
Venue
2014
10.7873/DATE.2014.154
DATE
Keywords
Field
DocType
photovoltaic power systems,power system management,home owner,large power plant,ees bank capacity,smart residential pv,smart residential pv management mechanism,energy flow control problem,electrical energy storage banks,pv system,government subsidies,conversion circuits,electricity prices,daily energy flow control,optimal design,pv output power,optimal system specification,energy management systems,pv modules,smart residential energy system,smart residential pv optimal design,energy storage system,energy storage,electrical energy storage bank,pv module,solar photovoltaic technology,system lifetime,power plants,pv systems,power grid,lead,electricity,power generation,degradation
Energy storage,Grid-connected photovoltaic power system,Stand-alone power system,Time horizon,Computer science,Grid parity,Maximum power point tracking,Real-time computing,Electrical engineering,Photovoltaic system,Electricity generation,Environmental economics
Conference
ISSN
Citations 
PageRank 
1530-1591
0
0.34
References 
Authors
4
4
Name
Order
Citations
PageRank
Di Zhu1827.40
Yanzhi Wang21082136.11
Naehyuck Chang31985185.85
Massoud Pedram478011211.32