Economic Study of Battery Profitability in Residential Solar Panel Systems: A Case Study of Belgium

Abstract

This paper examines the economic profitability of batteries in residential photovoltaic (PV) systems. Two scenarios are considered for this analysis, the first one involving current electricity and battery prices, while the second one considers the future expected prices in 2030 as inputs. The study was conducted on 100 load profiles with different consumption behaviors; the panel size will be determined according to the average load demand in three PV/Load ratios. The economic benefits of adding batteries to these load profiles are expressed as a percentage, which can indicate what percentage of prosumers will benefit by inserting a battery into their PV system. The results show that at current prices, adding batteries to the solar panel system will not have any economic benefits for prosumers. It has been found that for the sake of economic profit, it will require a sharp reduction in battery prices in the future, and on the other hand, the feed-in tariff regulations should also be changed being closer to zero.