Optimal design and management of a smart residential PV and energy storage system

Di Zhu, Yanzhi Wang, Naehyuck Chang, Massoud Pedram

Research output: Chapter in Book/Report/Conference proceedingConference contribution

11 Scopus citations

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.

Original languageEnglish (US)
Title of host publicationProceedings - Design, Automation and Test in Europe, DATE 2014
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Print)9783981537024
DOIs
StatePublished - Jan 1 2014
Event17th Design, Automation and Test in Europe, DATE 2014 - Dresden, Germany
Duration: Mar 24 2014Mar 28 2014

Publication series

NameProceedings -Design, Automation and Test in Europe, DATE
ISSN (Print)1530-1591

Other

Other17th Design, Automation and Test in Europe, DATE 2014
CountryGermany
CityDresden
Period3/24/143/28/14

ASJC Scopus subject areas

  • Engineering(all)

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