Performance and economic evaluation of a hybrid photovoltaic/thermal solar system for residential applications

• This study is focused on the energetic and economic feasibility of currently commercially available PV/T systems.
• The PV/T system explored is primarily used for domestic hot water production.
• An energetic and economic analysis has been performed for three cities at entirely different longitudes and climatic conditions.
• Even though they just entered the consumer market, PV/T systems appear to be an interesting investment.

Photovoltaic/thermal (PV/T) systems are capable of converting solar irradiation to thermal energy and electricity simultaneously. As PV/T solar systems become more popular and commercial solutions find their way into the market, it is necessary to evaluate both the energetic and economic benefits of such systems at different climatic conditions. The vast majority of the commercial solutions for residential applications are mainly intended to be used as solar water heaters with the bonus of electricity generation over the same collector area, replacing traditional solar heater solutions. In this paper, the energetic and economic performance of commercially available PV/T systems for electricity and domestic hot water production is being evaluated for use in three European countries, each under entirely different climatic and economic conditions. Economic spider diagrams are being presented to indicate how legislation and fuel prices would affect the value of such systems and useful observations are being made regarding the evaluation of their energetic performance.