Feasibility Study of the Use of Renewable Energy Sources in Households

Wojciech Tomasz Ozdarski

Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn

Mirosława Witkowska-Dąbrowska

Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
https://orcid.org/0000-0003-1162-7362

Ilisio Manuel de Jesus

Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
https://orcid.org/0000-0001-8923-5049


Abstract

The present study presents an estimation of the effectiveness of photovoltaic panels and a heat pump installation. The objective of the research was to evaluate the economic feasibility of investing in combined systems relying on renewable energy sources. The research results corroborated the first hypothesis, namely that the use of photovoltaic panels fully supplies the energy needs of the heat pump installed in the household. The other hypothesis, however, was not supported; namely that a combined investment in photovoltaic panels and a heat pumps will pay back in a period shorter than the half of the project’s lifetime. The period of financial return slightly exceeded the assumed time. This means that a combination of a heat pump and a photovoltaic installation is economically feasible, but some forms of support with external capital should be applied.


Keywords:

renewable energy sources, profitability, households


Behrouzi, F., Nakisa, M., Maimun, A., & Ahmed, Y.M. (2016). Global renewable energy and its potential in Malaysia: A review of Hydrokinetic turbine technology. Renewable and Sustainable Energy Reviews, 62.
Crossref   Google Scholar

Bhowmik, C., Bhowmik, S., Ray, A., & Pandey, K.M. (2017). Optimal green energy planning for sustainable development: A review. Renewable and Sustainable Energy Reviews, 71.
Crossref   Google Scholar

Borovik, M.R., & Albers, J.D. (2018). Participation in the Illinois solar renewable energy market. The Electricity Journal, 31.
Crossref   Google Scholar

Brodziński, Z., Brodzińska, K., & Szadziun, M. (2021). Photovoltaic Farms – Economic Efficiency of Investments in North-East Poland. Energies, 14(8), 2087.
Crossref   Google Scholar

Chwieduk, D., & Chwieduk, M. (2020). Określenie charakterystyki energetycznej domu niskoenergetycznego słonecznego z uwzględnieniem aspektów efektywności energetycznej i inteligentnego domu. Energie, 13.   Google Scholar

Fornara, F., Pattitoni, P., Mura, M., & Strazzera, E. (2016). Predicting intention to improve household energy efficiency: The role of value-belief-norm theory normative and informational influence and specific attitude. Journal of Environmental Psychology, 45.
Crossref   Google Scholar

Global Solar Atlas. Retrieved from https://globalsolaratlas.info/map.   Google Scholar

Herman, M., & Koroblowski, P. (2003). Analiza i ocena nowych projektów inwestycyjnych. Cz. 2. TTS Technika Transportu Szynowego, 10(1-2).   Google Scholar

Keramitsoglou, K.M., Mellon, R.C., Tsagkaraki, M.I., & Tsagarakis, K.P. (2016). Clean not green: The effective representation of renewable energy. Renewable and Sustainable Energy Reviews, 59.
Crossref   Google Scholar

Lucas, H., Pinnington, S., & Cabeza, L.F. (2018). Education and training gaps in the renewable energy sector. Solar Energy, 173.
Crossref   Google Scholar

Metz, B., Davidson, O.R., Bosch, P.R., Dave R., & Meyer L.A. (2007). Contribution of Working Group III to the Fourth Assessment Report of the Intergovernmental Panel on Climate Change. IPCC Fourth Assessment Report.   Google Scholar

Mielcarz, P., & Paszczyk, P. (2013). Analiza projektów inwestycyjnych w procesie tworzenia wartości przedsiębiorstwa. Warszawa: Wydawnictwo Naukowe PWN.   Google Scholar

Niekurzak, M., & Kubińska-Jabcoń, E. (2021). Analysis of the Return on Investment in Solar Collectors on the Example of a Household: The Case of Poland. Frontiers in Energy Research, 26 May, Sec. Solar Energy. https://doi.org/10.3389/fenrg.2021.660140.
Crossref   Google Scholar

Qazi, A., Hussain, F., Nasrudin, Abd R., Hardaker, G., Alghazzawi, D., Shaban, K., & Haruna, K. (2019). Towards Sustainable Energy: A Systematic Review of Renewable Energy Sources, Technologies, and Public Opinions. IEEE Access, 7, 63837-63851.
Crossref   Google Scholar

Odnawialne źródła energii. Retrieved from https://www.mae.com.pl/oferta-mae/baza-wiedzy/odnawialne-zrodla-energii/energia-geotermalna (18.01.2022).   Google Scholar

Pastusiak, R. (2003). Ocena efektywności inwestycji. Warszawa: CeDeWu.   Google Scholar

Rynek fotowoltaiki w Polsce 2020. Streszczenie i wnioski raportu 2020. Retrieved from https://www.cire.pl/artykuly/materialy-problemowe/172334-rynek-fotowoltaiki-w-polsce-2020-streszczeniei-wnioski-raportu (21.05.2022).   Google Scholar

Ustawa z dnia 19 lipca 2019 r. o zapewnianiu dostępności osobom ze szczególnymi potrzebami. Dz.U. z 2019 r., poz. 1696.   Google Scholar

Sobczyk, M. (2011). Matematyka finansowa. Podstawy teoretyczne, przykłady, zadania. Warszawa: Placet.   Google Scholar

Sharvini, S.R., Noor, Z.Z., Chong, C.S., Stringer, L.C., & Yusuf, R.O. (2018). Energy consumption trends and their linkages with renewable energy policies in East and Southeast Asian countries: Challenges and opportunities. Sustainable Environment Research, 28.
Crossref   Google Scholar

Świdyńska, N., & Witkowska-Dąbrowska, M. (2021). Ocena rentowności projektów gospodarczych w sektorze rolniczym. Mińsk: Narodowa Akademia Nauk Republiki Białorusi.   Google Scholar

Wierzbicka, W. (2022). Activities Undertaken in the Member Cities of the Polish National Cittaslow Network in the Area of “Energy and Environmental Policy”. Energies, 15, 1309. https://doi.org/10.3390/en15041309.
Crossref   Google Scholar

Żelazna, A., Gołębiowska, J., Zdyb, A., & Pawłowski, A. (2020). Hybrydowy a sieciowy system fotowoltaiczny: wielokryterialna analiza aspektów środowiskowych, ekonomicznych i technicznych w perspektywie cyklu życia. Energie, 13.
Crossref   Google Scholar

Download


Published
2021-12-30

Cited by

Ozdarski, W. T. ., Witkowska-Dąbrowska, M., & de Jesus, I. M. . (2021). Feasibility Study of the Use of Renewable Energy Sources in Households. Olsztyn Economic Journal, 16(2), 251–262. https://doi.org/10.31648/oej.8153

Wojciech Tomasz Ozdarski 
Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
Mirosława Witkowska-Dąbrowska 
Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
https://orcid.org/0000-0003-1162-7362
Ilisio Manuel de Jesus 
Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn
https://orcid.org/0000-0001-8923-5049



License

Copyright (c) 2021 Olsztyn Economic Journal

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

An Author declares that his paper has not been published before (under the same or another title, or is a part of another publication) and does not infringe copyrights of other persons**. At the same time, the Author transfers to the Publisher the exclusive right to publish and to circulate this work in print in the form of a non-serial journal publication and in a form of an electronic publication.

Author's statement

The journal is available on Creative Common license CC-BY-NC-ND