PV panels as a renewable energy source for residential building – An economical comparison before and during the energy crisis

Abstract

The application of renewable energy sources is a current trend today due to the limited sources of fossil. A substantial part of these energy sources is solar radiation. The development of electricity prices was significantly affected by two global crises, the COVID-19 pandemic and the energy crisis associated with the Russia-Ukraine conflict. The essence of the article is to compare the economic sense and appropriateness of investing in a photovoltaic power plant system and its return over time, considering the prediction of the development of electricity prices between 2020 and 2023 and subsequently also with a 15-year price prediction. The article deals with investment, energy consumption and financial evaluation of a PV system with PV panels installed on the ventilated façade of a residential building in the Czech Republic. The conclusions of the article show that the increase in investment in the PV panels themselves between 2020 and 2023 is a crucial factor for the return of the entire system. Predictive models of the development of electricity prices and associated liquidity of the investment also play a significant role in this issue.The application of renewable energy sources is a current trend today due to the limited sources of fossil. A substantial part of these energy sources is solar radiation. The development of electricity prices was significantly affected by two global crises, the COVID-19 pandemic and the energy crisis associated with the Russia-Ukraine conflict. The essence of the article is to compare the economic sense and appropriateness of investing in a photovoltaic power plant system and its return over time, considering the prediction of the development of electricity prices between 2020 and 2023 and subsequently also with a 15-year price prediction. The article deals with investment, energy consumption and financial evaluation of a PV system with PV panels installed on the ventilated façade of a residential building in the Czech Republic. The conclusions of the article show that the increase in investment in the PV panels themselves between 2020 and 2023 is a crucial factor for the return of the entire system. Predictive models of the development of electricity prices and associated liquidity of the investment also play a significant role in this issue.