Cost optimal self-consumption of PV prosumers with stationary batteries, heat pumps, thermal energy storage and electric vehicles across the world up to 2050

Abstract

Globally, PV prosumers account for a significant share of the total installed solar PV capacity, which is a growing trend with ever-increasing retail electricity prices. Further propelled by performance improvements of solar PV and innovations that allow for greater consumer choice, with additional benefits such as cost reductions and availability of incentives. PV prosumers may be one of the most important enablers of the energy transition. PV prosumers are set to gain the most by maximising self-consumption, while avoiding large amounts of excess electricity being fed into the grid. Additionally, electricity and heat storage technologies, heat pumps and battery electric vehicles are complementary to achieve the highest possible self-consumption shares for residential PV prosumer systems, which can reach grid-parity within this decade in most regions of the world. This research finds the cost optimal mix of the various complementary technologies such as batteries, electric vehicles, heat pumps and thermal heat storage for PV prosumers across the world by exploring 4 different scenarios. Furthermore, the research presents the threshold for economical maximum battery capacity per installed PV capacity, along with self-consumption ratios, demand cover ratios and heat cover ratios for 145 different regions across the world. This is a first of its kind study to conduct a global analysis of PV prosumers with a range of options to meet their complete energy demand from a future perspective, up to 2050. Maximising self-consumption from solar PV generation to meet all energy needs will be the most economical option in the future, for households across most regions of the world.