In recent years, solar price drops and regulations have helped residential users to invest in grid-connected photovoltaic (PV) facilities. In Spain, a novel law promotes self-consumption by discounting electricity fed into the grid from the utility bill. However, the performance of PV-based facilities depends on diverse factors. The contribution of this paper is to evaluate the techno-economic performance of such installations for different considerations linked to the Spanish law. A simulation model is used to examine different representative cities, load profiles and alternative objectives: maximising profitability and self-sufficiency. For profit maximisation, results show that load profile variations entail PV size changes up to 5 kWp for the same location, together with huge economic and self-sufficiency differences. In contrast, the solar radiation and compensation rate have a more limited influence. For self-sufficiency maximisation, the economic performance drops close to EUR 0, as benefits are used to double the PV size, buy batteries and reach close to 70% self-sufficiency. Finally, a sensitivity analysis shows a limited impact of the utility tariff and the technology cost on the PV size, but a relevant influence on the benefits. These results can help investors and families to quantify the risks and benefits of domestic self-consumption facilities.
Economic risk-based bidding strategy for profit maximisation of wind-integrated day-ahead and real-time double-auctioned competitive power markets
