BC denotes the battery capacity. Ei is the total
amount of the electricity energy shortage because of not meeting
the demand during an hour i. Cs are $5.8/Wp (mono-crystal silicon,
rated output of 75W at 1000 W/m2), $5.5/Wp (multi-crystal silicon,
rated output of 75W at 1000 W/m2) whereas Cw is US $3/W (rated
output of 5000Wat 10 m/s), and CB is $180/kW h (200 Ah 12 V lead
acid battery) [14]. Csh is $0.5 per kW h as explained above, and n is
the simulation time period, 175,200 h. In this study, the inflation
rate and time value of money are not considered.
CT ¼ Cs as þ Cw aw þ CB BC þX
n
i¼1
Csh Ei ð6Þ
In addition, a total of US $500 battery charger cost, and 5% installation,
maintenance and engineering cost of the initial hardware is
also added into the total system cost for an assumed 20-yearlifetime