Financial analysis of an installed multiunit seasonal thermal energy store

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

The financial viability of a solar Seasonal Thermal Energy Store (STES) installed in a mixed commercial and residential multiunit development of low-energy buildings located in Lysekil, Sweden, a maritime Scandinavian Climate has been investigated. Using recorded figures for the installation costs and performance, a financial Life Cycle Analysis has been undertaken to determine the cost effectiveness of the system.The time value of money is considered and a Life Cycle Cost (LCC) analysis undertaken to identify the cost-effectiveness of the solution. It shows that while a direct heating and hot water system incorporating STES can be economically viable in a Swedish Maritime Climate in the long term, assistance such as that provided by government incentives is required to assist with the high capital cost of the initial investment.
LanguageEnglish
Title of host publicationBIRES Proceedings
EditorsSoteris A. Kalogirou, David Kennedy
Place of PublicationDublin
Pages1-8
Publication statusE-pub ahead of print - 10 Mar 2017

Fingerprint

Thermal energy
Cost effectiveness
Life cycle
Costs
Heating
Water

Keywords

  • financial analysis
  • STES
  • Energy storage
  • Solar energy

Cite this

Colclough, S., Hewitt, N., & Griffiths, P. (2017). Financial analysis of an installed multiunit seasonal thermal energy store. In S. A. Kalogirou, & D. Kennedy (Eds.), BIRES Proceedings (pp. 1-8). Dublin.
Colclough, Shane ; Hewitt, Neil ; Griffiths, Philip. / Financial analysis of an installed multiunit seasonal thermal energy store. BIRES Proceedings. editor / Soteris A. Kalogirou ; David Kennedy. Dublin, 2017. pp. 1-8
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Colclough, S, Hewitt, N & Griffiths, P 2017, Financial analysis of an installed multiunit seasonal thermal energy store. in SA Kalogirou & D Kennedy (eds), BIRES Proceedings. Dublin, pp. 1-8.

Financial analysis of an installed multiunit seasonal thermal energy store. / Colclough, Shane; Hewitt, Neil; Griffiths, Philip.

BIRES Proceedings. ed. / Soteris A. Kalogirou; David Kennedy. Dublin, 2017. p. 1-8.

Research output: Chapter in Book/Report/Conference proceedingChapter

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AU - Griffiths, Philip

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N2 - The financial viability of a solar Seasonal Thermal Energy Store (STES) installed in a mixed commercial and residential multiunit development of low-energy buildings located in Lysekil, Sweden, a maritime Scandinavian Climate has been investigated. Using recorded figures for the installation costs and performance, a financial Life Cycle Analysis has been undertaken to determine the cost effectiveness of the system.The time value of money is considered and a Life Cycle Cost (LCC) analysis undertaken to identify the cost-effectiveness of the solution. It shows that while a direct heating and hot water system incorporating STES can be economically viable in a Swedish Maritime Climate in the long term, assistance such as that provided by government incentives is required to assist with the high capital cost of the initial investment.

AB - The financial viability of a solar Seasonal Thermal Energy Store (STES) installed in a mixed commercial and residential multiunit development of low-energy buildings located in Lysekil, Sweden, a maritime Scandinavian Climate has been investigated. Using recorded figures for the installation costs and performance, a financial Life Cycle Analysis has been undertaken to determine the cost effectiveness of the system.The time value of money is considered and a Life Cycle Cost (LCC) analysis undertaken to identify the cost-effectiveness of the solution. It shows that while a direct heating and hot water system incorporating STES can be economically viable in a Swedish Maritime Climate in the long term, assistance such as that provided by government incentives is required to assist with the high capital cost of the initial investment.

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Colclough S, Hewitt N, Griffiths P. Financial analysis of an installed multiunit seasonal thermal energy store. In Kalogirou SA, Kennedy D, editors, BIRES Proceedings. Dublin. 2017. p. 1-8