Comparison of LCOE of Battery Storage and P V System

Abstract: Sustainable energy is a key topic of research globally for more than two decades. The research for alternate sources has found sufficient inputs from various dimensions. Distributed energy resources(DERs) available for utilization ranges from biomass to solar power. Selection of the resources to meet the load is always dependent on the economic values involved. The levelized cost of electricity (LCOE) is one such metric that helps in this process by evaluating the life time energy generation cost. This paper is an attempt to compare the LCOE of two different DERs with the utility energy price.

Keywords: LCOE, LCC, PV, Lithium ion, Battery, DERs