Optimization of Time-Of-Use Tariffs Demand Side Management Coupled with Cold Thermal Energy Storage (TES) and Solar PV to Reduce On-Peak Demand
Abstract
Industries are responsible of emitting 40% of total energy-related CO2 emissions and about one third of total final energy consumption. Introducing energy management systems allow companies to manage and control their energy use, enabling them to lower energy costs, and enhance productivity and competitiveness. Demand side management using thermal energy storage and off-grid solar photovoltaic technologies could enhance the performance of energy systems and reduce on-peak demand for industries. In the present paper, the feasibility of reducing the annual electricity bill mainly by peak shifting will be studied by applying cold TES and off-grid solar PV along with a proper time-of-use tariff structure. Simulations results have shown that adopting a proper time-of-use tariff structure in combination with cold TES coupled with off-grid solar PV can considerably increase annual energy savings mainly by shifting electricity demand to nighttime off- peak period. Additionally, it was estimated that for the analyzed case study (450 kW of electrical demand 9 hours/day for cooling processes) 5000 € to 75000 € of annual energy bills can be saved by applying TES and solar PV with different capacities. Moreover, it was found that the combination of TES and solar PV technologies based on time-of-use tariff structure can improve the economic savings by 3% to 9% in comparison to using the two mentioned technologies separately.
Keywords
Cold storage, Thermal energy storage, Solar pv, Demand side management, Optimization.