Cost-Effectiveness of Li-Ion Battery Storage with a Special Focus on Photovoltaic Systems in Private Households
FCN Working Paper No. 02/2018
45 Pages Posted: 7 Mar 2019
Date Written: February 1, 2018
Using a self-developed economic model with a technical battery aging component, this paper provides a new approach to evaluating the economic efficiency of Li-ion battery storage. We use our model to quantify the increase in self-consumption of electricity from a solar photovoltaic system by means of a home battery storage system. Regarding battery aging, we find that the longest battery lifetimes can be achieved with the highest state-of-charge limit, which is, however, not economically efficient due to limited self-consumption. Although one of the three battery pooling concepts was identified as not being economically efficient, namely the case of Sonnen, our evaluation shows that economic efficiency can, in principle, be achieved with home battery pooling concepts. In future research, the model-based impacts on self-consumption and battery-aging found here ought to be validated by using real world data from the systems analyzed.
Keywords: Solar photovoltaics, Battery storage, Battery aging, Home battery pooling, Cost effectiveness
JEL Classification: Q40, Q42
Suggested Citation: Suggested Citation