Feasibility Study of the Use of Renewable Energy Sources in Households

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.