Presentation Details
| Optimized Economic Model for Residential Off-grid and Hybrid Photovoltaic (PV) and Battery Energy Storage System (BESS) Jason/Z Wang. Jordan High School, Fulshear, TX, USA |
Abstract
The adoption of residential solar photovoltaic (PV) systems has accelerated rapidly, with Texas emerging as a leading region due to its abundant solar resources. However, the high upfront cost of installing a solar PV array and battery energy storage system (BESS)—typically $20,000 to $35,000—creates uncertainty for many homeowners evaluating the financial viability of such an investment. This project develops a decision-support software tool to help homeowners assess the economic feasibility of installing a hybrid or off-grid solar-plus-battery system. The model optimizes one of two financial objectives: maximizing Net Present Value (NPV) or minimizing payback period. Using site-specific latitude and longitude, the tool retrieves solar irradiance and PV performance data from the National Renewable Energy Laboratory (NREL). Users can also create a custom load profile that reflects their household’s electricity consumption. The algorithm simulates hourly energy flows among the PV array, household load, battery storage, and the electric grid under adjustable system parameters such as battery charge/discharge efficiency and Depth of Discharge (DOD). Users may input cost variables including PV cost ($/kW), BESS cost ($/kWh), electricity purchase/sell-back rates, installation cost, grid-connection fees, and annual operating or depreciation costs. The model calculates annual cash flows and evaluates NPV or payback time for each PV–BESS configuration. A brute-force grid-search method identifies the optimal PV and battery sizes that satisfy the user’s selected economic objective. By providing accurate estimates of PV generation, system performance, and financial return, this tool helps homeowners make informed decisions about adopting solar energy. Future development includes creating an AI-based mobile or web application with an intuitive interface, enabling users to adjust parameters easily and receive clear guidance on potential PV-plus-BESS investments.
No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the author.
No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission of the author.
Content Locked. Log into a registered attendee account to access this presentation.