Financial benefits by installing PV generation and energy storage systems for households

Saudi Arabia's power system is a summer peaking system, which makes solar power suitable and fits the demand curve during summer peak time. This paper will study the financial benefits for households by installing a PV system and lithium-ion batteries in a distribution system. The study is based on real house load profile and actual 6 kW PV system that is installed on the roof of a house in California, which has similar load and weather patterns to Saudi Arabia's. The cost of PV, its output power, battery size, its charging and discharging rate, cycling, efficiency, and life time are considered. Four different configurations have been studied and compared, No PV No Battery, PV only, Battery only, both of PV and Battery.