Comparison study of the technical characteristics and financial analysis of electric battery storage systems for residential grid

One of the major energy issues of our days is reliable and effective energy generation and supply of electricity grids. In recent years there has been experienced a rapid development and implementation of Renewable Energy Sources (RES) worldwide. On one hand, many Gigawatts of grid-connected renewables are being installed and on the other many Megawatts of hybrid renewable systems for residential use are being installed making use of electric battery systems, in order to cover all daily energy and power needs during. New types of batteries are being developed and many companies have made great progress providing a variety of electricity storage products. The purpose of this research is firstly to highlight the necessity and also the importance of the use of energy storage systems and secondly, through detailed technical and financial simulation analysis using HOMER Pro-optimization software, to compare the technical characteristics and performance of energy storage systems by various leading companies when installed in a residential renewable energy system with a specific load and at the same time to provide the most efficient system economically. Results concerning the operation and the choice of a storage system are derived.