Investigation of the potential to improve DC fast charging station economics by integrating photovoltaic power generation and/or local battery energy storage system.
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| Title: | Investigation of the potential to improve DC fast charging station economics by integrating photovoltaic power generation and/or local battery energy storage system. |
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| Authors: | Yang, Libing1 libing.yang@canada.ca, Ribberink, Hajo1 |
| Source: | Energy. Jan2019, Vol. 167, p246-259. 14p. |
| Subjects: | Photovoltaic power systems, Battery storage plants, Energy storage, Energy economics, Exergy |
| Abstract: | Abstract The economic feasibility of DC Fast Charging (DCFC) stations is strongly impacted by electricity charges, billed by electricity consumption (kWh) and power demand (kW), that have to be paid to the local utility. In this simulation study, the possibilities to significantly improve DCFC economics by reducing these utility charges have been investigated for DCFC stations assumed to be installed at highway service centres in Ontario and in Alberta (Canada). Various scenarios, in which the DCFCs are complemented by local photovoltaic (PV) power generation and/or a battery energy storage system (BESS), are evaluated against a reference case with only a grid connection. The discounted payback periods of the required additional capital investments have been examined. The analysis results indicate that the proposed systems are able to reduce the demand charges due to the addition of BESS and reduce the electricity consumption charges due to the utilization of PV. Although the proposed systems cannot pay themselves back within a reasonable period under the current PV and battery prices, the economic viability in a 5- to 10-year timeframe becomes quite promising considering the expected continuous decline of these prices because of technology advancement, manufacturing efficiencies and market expansions. Highlights • Integration of PV and battery reduces electricity consumption charges and demand charges respectively. • The synergy between the PV and battery energy storage is rather limited. • It is more cost-effective to install the proposed systems in locations having high electricity rates. • Currently, PV systems could provide marginal economic benefit, but BESS is still too costly. • The proposed systems would become economically viable in 5–10 years due to price drop of PV and BESS. [ABSTRACT FROM AUTHOR] |
| Copyright of Energy is the property of Pergamon Press - An Imprint of Elsevier Science and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) | |
| Database: | Engineering Source |
| FullText | Text: Availability: 0 |
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| Header | DbId: egs DbLabel: Engineering Source An: 133953199 AccessLevel: 6 PubType: Academic Journal PubTypeId: academicJournal PreciseRelevancyScore: 0 |
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| Items | – Name: Title Label: Title Group: Ti Data: Investigation of the potential to improve DC fast charging station economics by integrating photovoltaic power generation and/or local battery energy storage system. – Name: Author Label: Authors Group: Au Data: <searchLink fieldCode="AR" term="%22Yang%2C+Libing%22">Yang, Libing</searchLink><relatesTo>1</relatesTo><i> libing.yang@canada.ca</i><br /><searchLink fieldCode="AR" term="%22Ribberink%2C+Hajo%22">Ribberink, Hajo</searchLink><relatesTo>1</relatesTo> – Name: TitleSource Label: Source Group: Src Data: <searchLink fieldCode="JN" term="%22Energy%22">Energy</searchLink>. Jan2019, Vol. 167, p246-259. 14p. – Name: Subject Label: Subjects Group: Su Data: <searchLink fieldCode="DE" term="%22Photovoltaic+power+systems%22">Photovoltaic power systems</searchLink><br /><searchLink fieldCode="DE" term="%22Battery+storage+plants%22">Battery storage plants</searchLink><br /><searchLink fieldCode="DE" term="%22Energy+storage%22">Energy storage</searchLink><br /><searchLink fieldCode="DE" term="%22Energy+economics%22">Energy economics</searchLink><br /><searchLink fieldCode="DE" term="%22Exergy%22">Exergy</searchLink> – Name: Abstract Label: Abstract Group: Ab Data: Abstract The economic feasibility of DC Fast Charging (DCFC) stations is strongly impacted by electricity charges, billed by electricity consumption (kWh) and power demand (kW), that have to be paid to the local utility. In this simulation study, the possibilities to significantly improve DCFC economics by reducing these utility charges have been investigated for DCFC stations assumed to be installed at highway service centres in Ontario and in Alberta (Canada). Various scenarios, in which the DCFCs are complemented by local photovoltaic (PV) power generation and/or a battery energy storage system (BESS), are evaluated against a reference case with only a grid connection. The discounted payback periods of the required additional capital investments have been examined. The analysis results indicate that the proposed systems are able to reduce the demand charges due to the addition of BESS and reduce the electricity consumption charges due to the utilization of PV. Although the proposed systems cannot pay themselves back within a reasonable period under the current PV and battery prices, the economic viability in a 5- to 10-year timeframe becomes quite promising considering the expected continuous decline of these prices because of technology advancement, manufacturing efficiencies and market expansions. Highlights • Integration of PV and battery reduces electricity consumption charges and demand charges respectively. • The synergy between the PV and battery energy storage is rather limited. • It is more cost-effective to install the proposed systems in locations having high electricity rates. • Currently, PV systems could provide marginal economic benefit, but BESS is still too costly. • The proposed systems would become economically viable in 5–10 years due to price drop of PV and BESS. [ABSTRACT FROM AUTHOR] – Name: AbstractSuppliedCopyright Label: Group: Ab Data: <i>Copyright of Energy is the property of Pergamon Press - An Imprint of Elsevier Science and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.) |
| PLink | https://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=egs&AN=133953199 |
| RecordInfo | BibRecord: BibEntity: Identifiers: – Type: doi Value: 10.1016/j.energy.2018.10.147 Languages: – Code: eng Text: English PhysicalDescription: Pagination: PageCount: 14 StartPage: 246 Subjects: – SubjectFull: Photovoltaic power systems Type: general – SubjectFull: Battery storage plants Type: general – SubjectFull: Energy storage Type: general – SubjectFull: Energy economics Type: general – SubjectFull: Exergy Type: general Titles: – TitleFull: Investigation of the potential to improve DC fast charging station economics by integrating photovoltaic power generation and/or local battery energy storage system. Type: main BibRelationships: HasContributorRelationships: – PersonEntity: Name: NameFull: Yang, Libing – PersonEntity: Name: NameFull: Ribberink, Hajo IsPartOfRelationships: – BibEntity: Dates: – D: 15 M: 01 Text: Jan2019 Type: published Y: 2019 Identifiers: – Type: issn-print Value: 03605442 Numbering: – Type: volume Value: 167 Titles: – TitleFull: Energy Type: main |
| ResultId | 1 |
