Let the Sun do the Work

Analyzing the Economic and Environmental Performance of Residential PV-battery systems in Massachusetts

Abstract

PV-Battery systems offer a viable technological alternative to intermittent, stand-alone PV systems when deployed at the residential level. PV-Battery systems allow households to significantly reduce their reliance on the electric grid by storing excess electricity generated from theu solar panels for self-consumption. This study investigates the extent to which residential PV-Battery systems offer economic and environmental benefits to Massachusetts homeowners throughout their operational lifetime. Using spreadsheet models, I represent the energy flows, cash flows, and greenhouse gas emissions associated with residential PV-Battery systems in Massachusetts under different economic and technological assumptions. Results indicate that these systems are a viable means for homeowners to save money and reduce their carbon footprint. Economic performance of residential PV-Battery systems is deeply impacted by federal and state subsidies, as well as net metering offerings and electricity rate structures. System size also offers certain tradeoffs between economic and environmental performance.