Sizing PV-Battery Storage Grid-Connected System based on Levelized Cost of Energy

The use of battery energy storage system (BESS) and photovoltaic (PV) (PV-BESS) has recently become critically important due to the rise in the price of traditional fuel and the increase in energy demand. The primary goal of this paper is to obtain the most efficient and cost-effective energy-supplying system by choosing from the grid, PV, and BESS for use with a specific demand. The BESS size is computed using a repeated analytical technique, which also generates several combinations of PV-BESS. The levelized cost of energy (LCOE) formula is suggested for calculating the cost of PV-BESS, considering an extra amount of PV energy production and energy purchased from the grid with different three types of BESS. The size of the PV-BESS is determined based on solar radiation, temperature, and load behavior over a whole year. The results indicate that the optimal LCOE of the system occurs at a rated PV capacity of 400 kW. Additionally, the best BESS to be used is the Redox Flow battery with a specific capability of 560 kWh. A 17.4% cost reduction was achieved in comparison to the price of electricity from the grid. Furthermore, the framework that has been suggested enables it to feed 74.6% of load energy by PV-BESS systems as compared to only 47.8% with the use of a standalone PV system.