Analysis of the financial implications of solar panels and battery storage integration in the port infrastructure of Heraklion

Abstract

The European Union (EU) aims to significantly reduce greenhouse gas (GHG) emissions by 2050, necessitating an extensive energy transition across numerous industries and economic sectors. Urban ports are a key sector affected by this transition. As ports increasingly adopt electric-powered infrastructure (such as cold ironing, reefers, stackers, and cranes), their reliance on the electrical grid grows, potentially leading to higher operational costs. This creates a challenge of achieving the required transition in a cost-effective manner. This paper addresses this issue by proposing a photovoltaic (PV) and battery installation to meet electricity demands, focusing on determining the optimal system size, cost, and expected earnings. The study utilizes electricity consumption data from the port of Heraklion for 2021 and solar data from a nearby photovoltaic park in Heraklion, Crete. The methodology's results include determining the appropriate PV capacity and battery storage, with an estimated annual profit of €165,818.44.