Financial analysis of an installed multiunit seasonal thermal energy store: First International Conference on Building Integrated Renewable Energy Systems

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.