This article provides an analysis of the effect on the overall energy bill of a commercial facility of active energy management. We first show the benefits of pure hedging, hedging when the facility has its own power source—we consider the use of co-generation in winter and the use of solar power in summer. We next show how active control of facility temperature set points augments the benefits of the hedging and use of local power. Our studies are based on real consumption data of a large commercial facility, the corresponding real time prices of grid power, prices of natural gas, intensity of solar radiation, and temperature history of the period under consideration. We show that the combination of hedging, local power generation and active control can reduce facility energy bills by up to 30%, and bill variance by up to 80%. Thus, we have a scenario where consumers save significantly while using power sources with a smaller carbon footprint.
- Dynamic Systems and Control Division
Real Time Energy Management: Cutting the Carbon Footprint and Energy Costs via Hedging, Local Sources and Active Control
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Luo, Q, Ariyur, KB, & Mathur, A. "Real Time Energy Management: Cutting the Carbon Footprint and Energy Costs via Hedging, Local Sources and Active Control." Proceedings of the ASME 2009 Dynamic Systems and Control Conference. ASME 2009 Dynamic Systems and Control Conference, Volume 1. Hollywood, California, USA. October 12–14, 2009. pp. 157-164. ASME. https://doi.org/10.1115/DSCC2009-2774
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