Shared investment in PV panels and battery storage for residential building

Abstract

In this paper, we propose a stochastic joint investment problem to determine the number of photovoltaic (PV) panels and battery storage (BS) units required to satisfy the demand of all the consumers who share a common building. The objective of the proposed problem is to minimize the joint investment cost plus the expected annual energy consumption costs for all consumers over the investment horizon. The problem is also applicable for consumers who have shiftable loads. The proposed problem allocates the random harvested energy and stored energy to the consumers on any operating day in the investment horizon proportional to their investments. This is accomplished by distributing the PV panels and BS units to the consumers as virtual resources in proportion to their contributions towards the total investment cost. The proposed problem facilitates peer-peer energy trading and two-way energy trading with the grid operator. The results reveal that the cost savings under the proposed problem were

15\%

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higher compared to the case where the consumers took their investment decisions independently. The impact of net-metering, shiftable loads, budgets, and available rooftop area are rigorously analyzed under the proposed work and compared to special cases.

Keywords

PV generation / Battery storage / Investment / Energy trading / Residential building

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