Hybrid battery charging strategy for maximizing PV customers' economic benefits

Xinan Wang, George G. Karady

Research output: Chapter in Book/Report/Conference proceedingConference contribution

4 Scopus citations

Abstract

This paper presents a new hybrid battery charging strategy with the energy sources both from PV (Photovoltaic) panels and the grid. This strategy can achieve the optimal economic benefits for PV customers in areas with continuous grid supply. A mathematical model of this charging strategy is developed and programmed. Local residential PV customers' energy bills are significantly reduced by using this charging strategy. In addition, a classic financial model, Net Present Value (NPV), is utilized to forecast the return on investing of the battery system with multiple purchase options for residential customers. The analysis result provides a practical reference for customers who want to invest in the battery storage system.

Original languageEnglish (US)
Title of host publication2016 IEEE Power and Energy Society General Meeting, PESGM 2016
PublisherIEEE Computer Society
ISBN (Electronic)9781509041688
DOIs
StatePublished - Nov 10 2016
Event2016 IEEE Power and Energy Society General Meeting, PESGM 2016 - Boston, United States
Duration: Jul 17 2016Jul 21 2016

Publication series

NameIEEE Power and Energy Society General Meeting
Volume2016-November
ISSN (Print)1944-9925
ISSN (Electronic)1944-9933

Other

Other2016 IEEE Power and Energy Society General Meeting, PESGM 2016
CountryUnited States
CityBoston
Period7/17/167/21/16

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Keywords

  • Economic benefit
  • Hybrid battery charging strategy
  • PV

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

Cite this

Wang, X., & Karady, G. G. (2016). Hybrid battery charging strategy for maximizing PV customers' economic benefits. In 2016 IEEE Power and Energy Society General Meeting, PESGM 2016 [7741127] (IEEE Power and Energy Society General Meeting; Vol. 2016-November). IEEE Computer Society. https://doi.org/10.1109/PESGM.2016.7741127