Journal
2022 6TH INTERNATIONAL CONFERENCE ON GREEN ENERGY AND APPLICATIONS (ICGEA 2022)
Volume -, Issue -, Pages 86-92Publisher
IEEE
DOI: 10.1109/ICGEA54406.2022.9792003
Keywords
buildings; integrated solar; energy storage; demand-side management; energy shifting; cost savings
Categories
Funding
- RIE2020 Industry Alignment Fund -Industry Collaboration Projects (IAF-ICP) Funding Initiative
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With the decreasing cost of distributed technologies and digitalization, buildings are becoming active market participants. This study proposes a design optimization methodology to achieve potential cost savings in buildings by identifying the optimal capacities of onsite renewables and other distributed technologies.
The decreasing cost of distributed technologies and digitalization and the increased openness of the electricity market transform buildings into active market participants. Energy-intensive buildings explore integrated renewables and distributed technologies to improve the building's energy efficiency, reduce utility grid power and ultimately reduce the energy cost. This study proposes a design optimization methodology to achieve potential cost savings in buildings by identifying the optimal capacities of onsite renewables and other distributed technologies. The potential cost savings typically depend on buildings load characteristics, utility grid tariffs, and distributed technologies cost. A case study on a moderate-scale energy-intensive building in Singapore has been conducted. It shows that solar PV readily guarantees cost reduction while electrical and cold energy storage currently offers marginal cost benefits and can improve on future cost trends. The proposed design methodology can incorporate other technologies to examine the cost savings opportunities in buildings.
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