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arXiv · 2312.03137

The Role of Net-Zero Energy Residential Buildings in Florida's Energy Transition: Economic Analysis and Technical Benefits

Hamed Haggi·James M. Fenton
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Abstract

Net-zero emission policies, coupled with declining costs of renewables, battery storage, and electric vehicles, require both direct and indirect electrification (such as green hydrogen) of the energy infrastructure to address climate change impacts, improve resilience, and lower energy expenses. In this paper, a comprehensive techno-economic analysis was performed that integrated net-zero energy buildings within the context of Florida energy transition by the year 2050. The analysis compares the monthly cost savings of owning photovoltaic (PV) on the roof, battery storage, and Electric Vehicle (EV) to the cost of buying electricity from the grid for both existing and newly built Orlando homes. The impact of income tax credits (ITC) and energy efficiency improvements on monthly savings was taken into account. The levelized cost of electricity for residential PV and PV + battery systems was determined and extended to provide a cost equivalent to gasoline for an average EV. Rooftop solar fueling an EV for 10,000 miles saves \$100 per month over purchasing gasoline. Today, Florida residents can save on their monthly costs of electricity and gasoline if they have both PV on their roof and a battery system (sized for average daily residence load), and benefit from the federal ITC. Florida residents can cost-effectively transition to their own solar, battery storage, and electric vehicle to home systems. Allowing utility-scale solar to be used for on-site EV fast-charging and hydrogen production through electrolysis for fuel cell vehicles or blending with natural gas, minimizing the need for electricity transmission and distribution costs across the power grids.

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BibTeXRIS

Hamed Haggi, James M. Fenton. 2023-12-05. The Role of Net-Zero Energy Residential Buildings in Florida's Energy Transition: Economic Analysis and Technical Benefits. https://arxiv.org/abs/2312.03137

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