Enhanced Value of Grid-Connected PV with Battery Storage in a Negative Price Environment

In recent years, the global installed PV system capacity has reached record levels, especially in the EU. This has led to more frequent negative prices due to overproduction. Consequently, utility-scale PV systems are often curtailed during these periods, reducing their value and attractiveness. Our study quantifies the value loss of PV systems during high negative price hours and explores solutions to enhance PV asset value by integrating battery storage. According to our models, PV systems can lose up to 11% of annual production due to negative price hours, while batteries can increase their production by up to 7% under these negative hours. Combining PV with battery storage shows greater resilience to negative price fluctuations, with almost no change in net energy production (PV + battery) during negative price hours.