Integrating bifacial solar panels with energy storage solutions can lead to significant potential cost savings primarily by increasing energy yield, improving efficiency, and reducing the levelized cost of electricity (LCOE).
Key Cost Savings from Bifacial Solar Panels
- Higher Energy Production: Bifacial panels generate 6% to 11% more energy than traditional monofacial panels, with some studies showing up to 27% more energy when paired with solar trackers that follow the sun’s movement. Another research report noted a nearly 35% increase in energy output from combining bifacial panels with single-axis tracking technology, which also reduced electricity cost by about 16% compared to standard fixed monofacial systems.
- Annual Savings Example: At an average electricity price of $0.16 per kWh, a system producing 9,000 kWh annually could save approximately $1,440 in electricity costs. Although bifacial systems are somewhat more expensive upfront (about 10 to 20 cents per watt more), their increased energy yields translate into improved value over time.
- Improved Performance in Various Climates: Bifacial panels perform better in hot climates and on reflective surfaces (like sand or light-colored ground), which enhances their efficiency and cost-effectiveness.
Cost Savings From Integrating with Energy Storage
- Maximized Energy Use: Energy storage allows storing the excess energy generated by bifacial panels during peak sunlight hours for use later, reducing reliance on grid electricity when rates are higher and increasing bill savings.
- Grid Cost Management: Storage smooths demand charges and helps avoid expensive grid power during peak times, enhancing overall cost savings from the higher energy production of bifacial panels.
- Reduced LCOE: By combining higher output from bifacial panels with storage solutions, the effective cost per kWh delivered to the user decreases, improving the economics of the solar system.
Summary Table
| Factor | Impact on Cost Savings |
|---|---|
| Energy yield increase (bifacial vs. monofacial) | +6% to +35% more energy generation |
| Electricity cost reduction via bifacial + tracking | Up to 16% lower cost of electricity |
| Annual savings example | $1,440 annually at $0.16/kWh for 9,000 kWh output |
| Upfront cost increase for bifacial | 10-20 cents/watt higher than monofacial |
| Benefit of storage integration | Maximizes use of generated energy, reduces grid buy, lowers overall LCOE |
In conclusion, although bifacial solar panels may have a higher initial cost, their integration with energy storage systems offers potential for substantial long-term cost savings through increased energy production and greater energy utilization efficiency. This combination can reduce electricity costs by roughly 16% or more and provide better economic returns on solar investments.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-are-the-potential-cost-savings-of-integrating-bifacial-solar-panels-with-energy-storage-solutions/
