The price increase of photovoltaic power is good for energy storage

Why is PV electricity a cost advantage?

Therefore, a clear cost advantage arises for the electricity consumer. In times of high supply, the electricity is used directly and to charge a battery to be stored short-term. This way, more PV electricity can be used later during low resource availability by discharging the battery.

Is photovoltaics a promising technology for renewable electricity generation?

A promising and already established technology for renewable electricity generation is photovoltaics (PV). Despite its invention already in the 19th century, only in the late 1980s, the first solar PV systems have been implemented and paved the way for autark, decentral electricity production.

How does PV capacity affect electricity prices?

Fig. 13 shows the impact of increasing PV capacity on electricity prices on an exemplary day due to a change in the residual load by PV feed-in, especially during noontime. The result is a shape resembling a duck—the so-called “duck curve”.

Does Excess PV produce a cost advantage?

However, in the case of excess PV production, the household demand will be covered from own production, and excess electricity will be offered to the grid at a FIT or the market price. Therefore, a clear cost advantage arises for the electricity consumer.

Is PV a viable alternative to existing electricity systems?

The growing share of PV electricity generation during the last decades implies both (long-term) economic and environmental benefits but can also lead to challenges concerning the further integration of large amounts of PV into existing electricity systems.

Is solar power a viable option?

The incredible plunge in the price of photovoltaic systems has made solar power an affordable option for much of the world. And, as long as solar is providing a small fraction of the power on a given grid, there's little holding back the addition of new photovoltaic facilities.