Analysis of renewable energy policy impacts on optimal integration of future grid-connected PV systems

Abstract

The optimal integration of future grid-connected PV systems will become essential as developments in solar cell technology lead to cheaper PV devices. Moreover as direct financial incentives and subsidies to PV systems are gradually phased out; cheaper PV devices, developed at the likely expense of life expectancy and efficiency, may prevail. This paper presents a model that can be applied to optimize the annual micro-level objectives, that is, to minimize financial costs and maximize revenues for the domestic user. This is essentially a multi-objective optimization problem whose most feasible solution is derived using the weighting method. A case study is presented under different energy pricing and market scenarios which demonstrates the potential of future cheaper PV systems in the context of future renewable energy policies.