Sizing and Cost Analysis of a Hybrid PV and Battery Energy Storage System for Residential and Commercial Buildings Employing Net Energy Metering Scheme

The Net Energy Metering scheme is one of the incentives provide by Malaysian government to promote the usage of renewable energy in Malaysia. Customers are encouraged to cogenerate electricity under this initiative. The scheme allows consumers to produce energy for their self-consumption first, before selling any excess energy they produce to the utility service provider. Photovoltaic (PV) systems are still thought to be costly, despite a recent decline in the cost of installation. Furthermore, the traditional technique of sizing PV systems necessitates oversizing some components, which results in needless additional costs. Using actual energy requirement data, the research presents an optimum sizing strategy for a hybrid PV and battery energy system. To study the effectiveness of the developed method, real load and solar irradiance data of residential and commercial buildings are used as case studies. The effectiveness of Net Energy Metering (NEM) scheme in reducing cost, power losses and decarbonation have been evaluated. The new method of sizing reduces installation costs by $40 \%$. It is observed that by employing NEM, the electrical bill will be reduced by almost $80 \%$, with Return on Investment (ROI) of less than 7 years.