Thermal energy storage for electricity-driven space heating in a day-ahead electricity market

Alessandro Pensini

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Abstract

Thermal Energy Storage (TES) in a space heating (SH) application was investigated. The study aimed to determine the economic benefits of introducing TES into an electricity-driven SH system under a day-ahead electricity market. The performance of the TES was assessed by comparing the cost of electricity in a system with a TES unit to the case where no storage is in use and the entire heat requirement is fulfilled by purchasing electricity according to the actual load. The study had two goals:
1. Determining how the size – in terms of electricity input (Pmax) and energy capacity (Emax) – of the TES unit influences the savings. For this purpose, a reference price signal was used.
Results show that it is possible to save up to approximately 14% of the electricity costs. In general, savings increase with Pmax and Emax. However, the benefit of increasing these two values ceases when certain threshold values are reached.
2. Determining how the maximum savings vary under higher and lower variations of the electricity price signal (compared to the reference signal).
Results show that higher or lower maximum savings can be achieved if the price signal variations around the mean value increase or decrease respectively. For example, a price signal with a standard deviation (SD) of around 54 [€/MWhe] leads to almost 18% of maximum savings. If the SD of the price signal drops to 21 [€/MWhe], maximum savings that can be achieved are around 10.3%.
Original languageEnglish
Title of host publicationProceedings of 7th International Renewable Energy Storage Conference and Exhibition
Number of pages7
Publication date2012
Publication statusPublished - 2012
Event7th International Renewable Energy Storage Conference and Exhibition - Berlin, Germany
Duration: 12 Nov 201214 Nov 2012

Conference

Conference7th International Renewable Energy Storage Conference and Exhibition
CountryGermany
CityBerlin
Period12/11/201214/11/2012

Cite this

Pensini, A. (2012). Thermal energy storage for electricity-driven space heating in a day-ahead electricity market. In Proceedings of 7th International Renewable Energy Storage Conference and Exhibition