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Energies 2022, 15, 1008 10 of 16 system comprises the cost for the heat pump (EUR 26300), solar collectors (EUR 8400), PCM tanks (EUR 4200), control system and auxiliary devices (EUR 2200), with a total cost of (EUR 41100). Finally, the investment criteria for the TESSe2b system for a 25-year period in comparison with the conventional system were the following: a simple payback period (SPBP) of 9.76 years, discounted payback period (DPBP) of 11.26 years (with a discount rate of 2.5%), net present value (NPV) of EUR 25465.41 and internal rate of return (IRR) of 9.51%. It has to be mentioned that both the conventional and TESSe2b systems were newly installed systems. Table 4. Annual savings. Annual primary energy saving (kWh) Annual primary energy saving (%) Annual emissions reduction (TCO2) Maintenance cost of TESSe2b (€) Annual operational & maintenance cost of TESSe2b (€) Maintenance cost of Conventional System (€) Annual operational & maintenance cost of Conventional System (€) Annual savings from operational & maintenance cost (€) Annual savings from operational & maintenance cost (%) 34,937.2 80.6 11.8 160.0 623.3 220.0 3237.1 2613.7 81.7 Annual Savings SPF calculation: Based on the monitoring data for the heating and cooling in the building, the SPFs were calculated as shown in Table 5. Table 5. Seasonal Performance Factors for the year 2019. SPF1 SPF2 SPF3 SPF4 April 3.16 3.14 2.71 2.66 May 3.79 3.77 2.84 2.82 June 5.77 5.67 4.29 3.80 July 5.52 5.44 4.44 3.79 August 5.03 4.96 4.17 3.64 Given the SPF results for the TESSe2b system at the Cyprus demonstration site, we could draw very promising conclusions concerning the TESSe2b system’s performance, especially in cooling mode. First of all, the SPF values were very high during June, July and August, since the TESSe2b system worked very efficiently in cooling mode due to the very high temperatures that dominated in Cyprus. It has to be mentioned that the SPF of the heat pump (SPF1) was 5.77, 5.52 and 5.03 for June, July and August, respectively. Moreover, the results for SPF2, including electricity consumption of the BHEs’ circulator, also showed excellent performance, since there was a slight reduction in relation to SPF1 (i.e., 5.67, 5.44 and 4.96 for June, July and August, respectively). However, a more evident reduction occurred with SPF3 and SPF4 due to the electricity consumption added with the circulators and fans of the entire system. Except for the extraordinary conclusions of the TESSe2b system from June to August, the TESSe2b system’s performance was quite good during April and May, with moderate temperatures during the spring. More specifically, SPF1 was 3.16 and 3.79 in April and May, respectively, which was quite high in such a period where the TESSe2b system was rarely used due to the moderate outside dominant temperatures in Cyprus. Finally, as was already mentioned, there was also a slight reduction in SPF2 and a more significant one in SPF3 and SPF4 that led to satisfying conclusions during the spring anyway. Storage system performance: In order to evaluate the storage system performance, hourly energy analysis of heating, cooling and DHW production using the operational profiles was performed. The results on an annual basis of the analysis of the PCM tanks for heating and DHW in relation to the solar contribution are presented in Table 6. The results are shownPDF Image | Latent Thermal Energy Storage Application
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