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| Format: | Preprint |
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2024
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| Online Access: | https://arxiv.org/abs/2412.00874 |
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| _version_ | 1866917852989095936 |
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| author | Haggi, Hamed Fenton, James M. |
| author_facet | Haggi, Hamed Fenton, James M. |
| contents | Recent advancements, net-zero emission policies, along with declining costs of renewable energy, battery storage, and electric vehicles (EVs), are accelerating the transition toward cleaner, more resilient energy systems. This paper conducts a comprehensive techno-economic analysis of Net-Zero Energy Buildings (NZEBs) within Florida's energy transition by 2050. The analysis focuses on the financial advantages of integrating rooftop photovoltaic (PV) systems, battery storage, and EVs collectively compared to reliance on grid electricity for both existing and newly built homes in Orlando, Florida. By leveraging federal incentives like the Investment Tax Credit and considering energy efficiency improvements, residents can achieve significant savings. Simulation results show that existing homes with a 9.5 kW PV system and 42.2 kWh battery are projected to generate positive returns by 2029, while newly constructed homes meet this threshold as early as 2024. Also, rooftop solar used to charge an EV can save up to 100 dollars per month for residents compared to gasoline. Combining PV and battery storage not only lowers electric bills but also enhances grid independence and resilience against grid outages. Beyond individual savings, NZEBs contribute to grid stability by reducing electricity demand and supporting utility-scale renewable applications. These advancements lower infrastructure costs, help Florida residents and utilities align with national decarbonization goals, retain approximately $23 Billion dollars within the state and foster progress toward a sustainable, low-carbon future. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2412_00874 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Techno-Economic Assessment of Net-Zero Energy Buildings: Financial Projections and Incentives for Achieving Energy Decarbonization Goals Haggi, Hamed Fenton, James M. Systems and Control Recent advancements, net-zero emission policies, along with declining costs of renewable energy, battery storage, and electric vehicles (EVs), are accelerating the transition toward cleaner, more resilient energy systems. This paper conducts a comprehensive techno-economic analysis of Net-Zero Energy Buildings (NZEBs) within Florida's energy transition by 2050. The analysis focuses on the financial advantages of integrating rooftop photovoltaic (PV) systems, battery storage, and EVs collectively compared to reliance on grid electricity for both existing and newly built homes in Orlando, Florida. By leveraging federal incentives like the Investment Tax Credit and considering energy efficiency improvements, residents can achieve significant savings. Simulation results show that existing homes with a 9.5 kW PV system and 42.2 kWh battery are projected to generate positive returns by 2029, while newly constructed homes meet this threshold as early as 2024. Also, rooftop solar used to charge an EV can save up to 100 dollars per month for residents compared to gasoline. Combining PV and battery storage not only lowers electric bills but also enhances grid independence and resilience against grid outages. Beyond individual savings, NZEBs contribute to grid stability by reducing electricity demand and supporting utility-scale renewable applications. These advancements lower infrastructure costs, help Florida residents and utilities align with national decarbonization goals, retain approximately $23 Billion dollars within the state and foster progress toward a sustainable, low-carbon future. |
| title | Techno-Economic Assessment of Net-Zero Energy Buildings: Financial Projections and Incentives for Achieving Energy Decarbonization Goals |
| topic | Systems and Control |
| url | https://arxiv.org/abs/2412.00874 |