A new study has identified several critical factors that influence the overall cost of thermophotovoltaic systems, including system lifespan, capital costs, inflation rates, and the price of natural gas
There is tremendous potential for residential thermophotovoltaic systems with storage to be economically feasible, though much depends on the cost of electricity. This is the finding of a new study by three researchers from Iowa State University of Science and Technology. Manish Mosalpuri, Fatima Toor, and Mark Mba-Wright have, for the first time, conducted a comprehensive techno-economic analysis of a thermophotovoltaic system paired with phase-change materials for energy storage, assessing its cost-effectiveness through simulations in a typical residential building. However, before discussing the results, it’s necessary to take a few steps back.
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What is Thermophotovoltaic (TPV) and How Does It Work?
Thermophotovoltaic (TPV) technology converts heat into electricity using a thermal absorber/emitter paired with a photovoltaic cell. TPV cells operate by utilizing heat sources like solar energy, waste heat, and other high-temperature heat sources.
The thermal energy is captured by the absorber/emitter, often made of materials like polycrystalline silicon carbide, tungsten, rare earth oxides, or certain crystals. This emitter functions somewhat like a filter: it absorbs infrared photons like a black body and re-emits them at a wavelength corresponding to the photovoltaic cell’s bandgap. The photovoltaic cell itself—whether single-junction or tandem—is typically composed of III-V materials, optimized for emitter temperatures between 1,900–2,400 °C. A cooling device follows to maintain optimal performance.
Currently, thermophotovoltaic cells have achieved a record conversion efficiency of 44% at 1,435°C.
Techno-Economic Analysis of a Residential Thermophotovoltaic System
A recent study from the United States has opened new perspectives on the economic viability of thermophotovoltaic systems integrated with solar energy and storage solutions, highlighting their potential in future energy applications. The researchers specifically calculated and optimized the levelized cost of energy consumed (LCOE) and levelized cost of electricity (LCOEel) under different scenarios for a typical residential building in Boone, Iowa. Their model included three energy sources—photovoltaics, the electrical grid, and natural gas—a gas boiler, two thermal storage units (one low-temperature and one high-temperature), a thermophotovoltaic power generation unit, and a heat pump.
The team developed four scenarios that varied the main financial factors, such as capital costs, fuel and electricity inflation rates, and capital costs associated with high-temperature energy storage and power generation systems.
“The results showed a slight reduction in both LCOE and LCOEel compared to initial estimates, reaching $0.038 and $0.128 per kilowatt-hour, respectively. The analysis also included a Monte Carlo uncertainty assessment to examine how different variables could affect these costs over time. The findings suggest that while thermophotovoltaic technology holds significant economic potential, the current LCOEel still exceeds the average electricity price.”
The study has been published in Journal of Photonics for Energy.
