Impact of Battery Cost on the Economics of Hybrid Photovoltaic Power Plants

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Abstract

In recent years, photovoltaic (PV) technology has experienced a rapid cost reduction. This trend is expected to continue, which in many countries drives interest in utility-scale PV power plants. The main disadvantage of such plants is that they operate only when the sun is shining. The installation of PV modules together with energy storage and/or fossil fuel backup is a way to solve that issue, but consequently increases the costs. In the last few years, however, lithium-ion batteries as well have shown a promising price reduction. This paper studies the competitiveness of a hybrid power plant that combines a PV system, lithium-ion battery and gas turbine (GT) compared to conventional fossil-fuel power plants (coal and natural gas-fired) with focus on the battery cost. To fulfil the demand an auxiliary GT is used in the hybrid PV plant, but its annual generation is limited to 20% of the total output. The metric for the comparison of the different technologies is the levelized cost of energy (LCOE). The installation of the plants is showcased in Morocco, a country with excellent solar resources. Future market scenarios for 2020 and 2030 are considered. A sensitivity analysis is performed to identify the key parameters that influence LCOE.

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Afanasyeva, S., Breyer, C., & Engelhard, M. (2016). Impact of Battery Cost on the Economics of Hybrid Photovoltaic Power Plants. In Energy Procedia (Vol. 99, pp. 157–173). Elsevier Ltd. https://doi.org/10.1016/j.egypro.2016.10.107

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