Are domestic PV systems a viable option for investors?

The case study for Australia demonstrated that domestic PV systems with small installed capacity proved to be more viable options for investors compared to larger PV-energy storage systems.

Will upcoming solar projects increase the demand for batteries in the UK?

Thus, such upcoming projects are likely to increase the demand for batteries in the United Kingdom during the forecast period. By the end of December 2022, the United Kingdom registered around 14.4 GW of installed solar capacity, and the new capacity added was around 613 MW in the same year.

What drives the return of domestic PV investment?

FIT has been identified as the driving factor for return of domestic PV investment. In the UK case study, the most profitable year of PV installation was 2011, where Brighton showed more than 5 times financial return compared with that of Fort William. The

Are energy storage systems economically viable?

Energy storage systems (ESS) employed with domestic PV systems have been investigated in Ref. , which was shown to be economically viable by self-consumption of the PV production and participating in the wholesale electricity market.

What are the emerging technologies for energy storage?

There are a range of emerging technologies including sodium-ion (Na-ion), hydrogen, and long-duration energy storage (LDES) that have significant potential. Na-ion batteries, for instance, offer a reduced environ-mental impact and safety benefits relative to lithium.

What is energy storage technology?

Energy storage technology aids grid operators in managing the variable energy generation from renewables like solar and wind energy. However, the development of advanced energy storage systems has been highly limited in selected regions with highly developed economies.