Economic analysis of a novel solar-assisted air conditioning system with integral absorption energy storage

The application of solar cooling systems is directly linked to the availability of solar radiation. Consequently, energy storage is important to achieve extended cooling coverage. This paper presents the economic performance evaluation of a novel solar-assisted absorption air conditioning system integrated with absorption energy storage (AES). The proposed solar-assisted air conditioning system consists of a parabolic trough solar collector (PTC), parallel-flow double-effect water-lithium bromide (H₂O–LiBr) absorption chiller, and AES. In this paper, the economic feasibility of the system is evaluated based on the annuity method. The results indicate a payback period of about 5 years to recover the initial investment of the proposed system for a commercial building based on the weather conditions of the Eastern region of Saudi Arabia. The existing vapour-compression air conditioning system operating alone consumes more energy compared to that when supplemented with the solar-driven absorption chiller with AES. A maximum of 58% energy-saving is achieved from the integrated solar-assisted cooling system in July and August. Furthermore, a solar fraction of 63% is obtained from the integrated solar cooling system. Finally, the annual levelized cost of energy-savings of about 137,944 USD is achieved from the proposed cooling system.