Techno-Economic Analysis for the Profitability of Residential PV-Battery System

Net-zero carbon targets and lowered investment costs are increasing the penetration of solar photovoltaic technology through either rooftop projects or large-scale projects. This work deals with technical and economic study for the profitability of residential PV systems with battery. The system comprises of solar panels, an inverter, and a battery system. The solar rooftop residential system with battery storage has large potential in the Indian scenario. The grid export conditions along with battery storage are common in other countries. So, the feasibility of such systems in the Indian scenario is discussed in this work. The economic parameters such as Net Present Value (NPV), Simple Payback period, Discounted Payback period, Levelized Cost of Energy (LCOE), and Profitability Index (PI) is calculated to analyze the profitability of the project. The simulation is done using System Advisor Model (SAM) software by National Renewable Energy Laboratory (NREL).