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DC Field | Value | Language |
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dc.contributor.author | Lai, CS | - |
dc.contributor.author | Locatelli, G | - |
dc.contributor.author | Pimm, A | - |
dc.contributor.author | Tao, Y | - |
dc.contributor.author | Li, X | - |
dc.contributor.author | Lai, LL | - |
dc.date.accessioned | 2020-02-13T12:58:35Z | - |
dc.date.available | 2019-10-01 | - |
dc.date.available | 2020-02-13T12:58:35Z | - |
dc.date.issued | 2019-05-23 | - |
dc.identifier.citation | Applied Energy, 2019, 251 | en_US |
dc.identifier.issn | 0306-2619 | - |
dc.identifier.issn | http://dx.doi.org/10.1016/j.apenergy.2019.04.175 | - |
dc.identifier.uri | http://bura.brunel.ac.uk/handle/2438/20275 | - |
dc.description.abstract | Electrical energy storage (EES) such as lithium-ion (Li-ion) batteries can reduce curtailment of renewables, maximizing renewable utilization by storing surplus electricity. Several techno-economic analyses have been performed on EES, but few have investigated the financial performance. This paper presents a state-of-the-art financial model obtaining novel and significative financial and economics results when applied to Li-ion EES. This work is a significant step forward since traditional analysis on EES are based on oversimplified and unrealistic economic models. A discounted cash flow model for the Li-ion EES is introduced and applied to examine the financial performance of three EES operating scenarios. Real-life solar irradiance, load, and retail electricity price data from Kenya are used to develop a set of case studies. The EES is coupled with photovoltaics and an anaerobic digestion biogas power plant. The results show the impact of capital cost: the Li-ion project is unprofitable in Kenya with a capital cost of 1500 $/kWh, but is profitable at 200 $/kWh. The study shows that the EES will generate a higher profit if it is cycled more frequently (hence a higher lifetime electricity output) although the lifetime is reduced due to degradation. | en_US |
dc.language.iso | en | en_US |
dc.publisher | Elsevier | en_US |
dc.subject | Lithium-ion energy storage | en_US |
dc.subject | Financing | en_US |
dc.subject | Financial model | en_US |
dc.subject | Solar PV | en_US |
dc.subject | Storage degradation | en_US |
dc.title | A financial model for lithium-ion storage in a photovoltaic and biogas energy system | en_US |
dc.type | Article | en_US |
dc.identifier.doi | http://dx.doi.org/10.1016/j.apenergy.2019.04.175 | - |
dc.relation.isPartOf | Applied Energy | - |
pubs.publication-status | Published | - |
pubs.volume | 251 | - |
Appears in Collections: | Dept of Electronic and Electrical Engineering Research Papers |
Files in This Item:
File | Description | Size | Format | |
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FullText.pdf | 2.86 MB | Adobe PDF | View/Open |
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