Comparative Analysis of Revenue Generation from Different Photovoltaic Panel Orientations in Wholesale Electricity Markets

Abstract

Traditionally, PV systems are designed to maximize energy output. However, it is important to adjust their orientation strategically to generate more energy during peak demand hours. This approach can maximize PV revenues and reduce its negative impacts on market prices under high PV penetration. This paper investigates the impact of modifying the PV output through fixedtilt orientations and curtailment strategies on revenue and capacity factor maximization in three wholesale electricity markets: California Independent System Operator (CAISO), Germany, and Finland. The results show a 0.63% increase in median revenue generation in the CAISO market when PV systems are deployed with curtailment strategies and panels are oriented towards southwestern azimuths. For the German market, revenue-optimized orientations are slightly towards southeastern azimuths, showing a percentage increase of 2.76% in median revenue generation, when curtailment is deployed. Curtailment strategies have no influence on revenues in Finland because of no negative electricity prices during sunlight hours.