The power of battery energy storage systems: unlocking home efficiency

This project explores the integration of battery energy storage systems (BESS) in residential settings to optimize energy management with a novel focus on standalone BESS configurations independent of solar photovoltaic (PV) systems. The objective is to analyze electricity price patterns, evaluate different BESS configurations, and develop strategies for efficient charging and discharging. This enables homeowners to store excess electricity during low-demand periods and discharge it during peak demand, reducing grid reliance and saving on electricity costs. The analysis reveals that a standalone BESS can reduce electricity costs by leveraging low-demand periods with electricity prices averaging 0.4 DKK/kWh, compared to peak prices exceeding 0.8 DKK/kWh. For June 2023, optimal charging (6:00-14:00, 18:00-22:00) and discharging (14:00-18:00, 23:00-6:00) periods were identified, leading to potential cost savings of up to 30 %. The findings highlight the potential of BESS to transform energy management and suggestions such as a net metering program are proposed to mitigate these challenges.