A comparative economic feasibility study of photovoltaic heat pump systems for industrial space heating and cooling

Lorenzo Navarro, Celena and Narvarte Fernández, Luis and Cristobal López, Ana Belén (2020). A comparative economic feasibility study of photovoltaic heat pump systems for industrial space heating and cooling. "Energies", v. 13 (n. 16); pp. 1-20. ISSN 1996-1073. https://doi.org/10.3390/en13164114.

Description

Title: A comparative economic feasibility study of photovoltaic heat pump systems for industrial space heating and cooling
Author/s:
  • Lorenzo Navarro, Celena
  • Narvarte Fernández, Luis
  • Cristobal López, Ana Belén
Item Type: Article
Título de Revista/Publicación: Energies
Date: 2020
ISSN: 1996-1073
Volume: 13
Subjects:
Freetext Keywords: Photovoltaic; heat pump; economic assessment; autonomous system; self-consumption
Faculty: Instituto de Energía Solar (IES) (UPM)
Department: Ingeniería Telemática y Electrónica
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

The use of photovoltaic (PV) systems for powering heat pumps (HP) leads to an economic, energy efficient and environmentally friendly alternative for heating and cooling generation. A technical solution developed by the authors permits stand-alone configurations to operate without batteries, mitigating up to 75% of the solar power fluctuations resulting from cloud-passing. Once its technical feasibility has been demonstrated, the economic potential of this innovative solution should be assessed (avoiding a battery system is a significant advantage). This paper presents a comparative economic assessment of this autonomous (AU) solution and a self-consumption (SC) solution, that would substitute a grid-powered HP system for the space heating and cooling of two livestock farms located in Spain. Results show that PV-HP systems are economically feasible regardless of the technical solution: the Profitability Index (PI) is in the 2.23–2.97 €/€ range, the Internal Rate of Return (IRR) is in the 8.1–10.9% range, the Payback Period (PBP) is in the 9.2–11 years range and the savings in terms of the Levelized Cost of Energy (LCOE) are in the 57–70% range. The AU solution offers a higher economic profitability, because it permits larger savings in the electricity bill. The SC solution presents lower LCOEs because of its greater electricity production.

Funding Projects

TypeCodeAcronymLeaderTitle
Horizon 2020787289GRECOUNIVERSIDAD POLITECNICA DE MADRIDFostering a Next Generation of European Photovoltaic Society through Open Science
Madrid Regional GovernmentP2018/EMT-4308MADRID-PV2UnspecifiedMateriales, Dispositivos y Tecnologías para el Desarrollo de la Industria Fotovoltaica

More information

Item ID: 63734
DC Identifier: https://oa.upm.es/63734/
OAI Identifier: oai:oa.upm.es:63734
DOI: 10.3390/en13164114
Official URL: https://www.mdpi.com/1996-1073/13/16/4114
Deposited by: Memoria Investigacion
Deposited on: 24 Apr 2021 06:28
Last Modified: 24 Apr 2021 06:28
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