Benefits of lithium-ion batteries for domestic users under TOU tariffs

The potential benefits of lithium-ion batteries in the domestic sector are investigated. A particular household in UK with a PV panel of 4kW and a lithium-ion battery is selected. The benefits gained are estimated based on a CBA, taking into consideration the degradation phenomenon. In the suggested methodology, a simulation Matlab model is developed where a specific energy management strategy is applied. Different scenarios are considered and compared. The obtained results showed that a lithium-ion battery could be a cost effective solution for domestic users. A high dependence between the degradation effect, TOU tariffs, FITs, domestic energy consumption and the benefits gained was found.