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On the use of hourly pricing in techno-economic analyses for solar photovoltaic systems
KTH, School of Industrial Engineering and Management (ITM), Energy Technology, Applied Thermodynamics and Refrigeration.ORCID iD: 0000-0002-2603-7595
KTH, School of Industrial Engineering and Management (ITM), Energy Technology, Applied Thermodynamics and Refrigeration.ORCID iD: 0000-0001-7354-6643
2015 (English)In: Energy Conversion and Management, ISSN 0196-8904, E-ISSN 1879-2227, Vol. 102, no SI, 180-189 p.Article in journal (Refereed) Published
Abstract [en]

The use of hourly prices in distributed photovoltaic (PV) techno-economic analysis is rare, but may become necessary as time-of-day retail pricing becomes more common. A methodology is presented for selecting an hourly price curve suitable for long-term analysis, called the typical price year (TPY), which is based on the methodology for TMY weather data. Using a techno-economic analysis with annual revenues and net present value as indicators, a TPY curve for the Swedish market is validated and then compared to 18 price simplification methods to determine the error introduced by the use of non-hourly prices. Results show that the TPY method produces a curve which accurately represents long term pricing trends, but using a static annual mean introduces minor revenue errors of 1.3%. This suggests the TPY may not be necessary in the Swedish market, but further analysis of the method is suggested for other markets.

Place, publisher, year, edition, pages
2015. Vol. 102, no SI, 180-189 p.
Keyword [en]
Solar PV, Techno-economic analysis, Dynamic prices, Time-of-use, Hourly, Typical price year
National Category
Energy Systems Economics
Research subject
Energy Technology; Economics
Identifiers
URN: urn:nbn:se:kth:diva-164521DOI: 10.1016/j.enconman.2015.02.054ISI: 000358809400019Scopus ID: 2-s2.0-84947495482OAI: oai:DiVA.org:kth-164521DiVA: diva2:805979
Funder
Swedish Research Council Formas, 2012-256
Note

QC 20150911

Available from: 2015-04-17 Created: 2015-04-17 Last updated: 2017-12-04Bibliographically approved

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Sommerfeldt, NelsonMadani, Hatef

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
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  • vancouver
  • Other style
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Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
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  • nn-NB
  • sv-SE
  • Other locale
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Output format
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