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Analysis of residential time-of-use utility rate structures and economic implications for thermal energy storage.

Number: 3659

Author(s) : SULTAN S., HIRSCHEY J., GLUESENKAMP K. R., GRAHAM S.

Summary

Thermal energy storage (TES) is an increasingly popular tool to level out the daily electrical demand and add stability to the electrical grid as more intermittent renewable energy sources are installed. TES systems can locally decouple high thermal loads from the operation of a heat pump or reduce the electrical energy demand of the heat pump by providing a more favorable temperature gradient. In addition, many policy makers and utility providers have introduced time-of-use (TOU) rate schedules for residential customers to better reflect the price of electricity generation and demand for specific times. TOU rate schedules price grid-provided electricity differently throughout the day depending on the region’s climate, time of year, and electrical production portfolio. Large differences between on-peak and off-peak electrical prices may create an economic advantage for a residential customer to install a TES system. In this work, the economic and energy savings are calculated for a modeled 223 square foot residential building with water/ice-based TES using a TOU rate structure. The weather data is from Fresno County, CA, ASHRAE climate zone 3B, and a representative residential TOU utility rate structure from a utility provider in California was used. The simulation was carried out for cooling only during a week of extreme hot summer daytime temperature and the results showed that total energy consumption could be reduced by 14.5% with an 87.5% reduction in on-peak energy usage when the TES is installed. The cost of operating this system for space cooling was reduced by nearly 20% using the sample utility rate plan.

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Pages: 10

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Details

  • Original title: Analysis of residential time-of-use utility rate structures and economic implications for thermal energy storage.
  • Record ID : 30028665
  • Languages: English
  • Subject: Technology
  • Source: 2021 Purdue Conferences. 6th International High Performance Buildings Conference at Purdue.
  • Publication date: 2021/05/24
  • Document available for consultation in the library of the IIR headquarters only.

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