Life-cycle cost benefit analysis and optimal design of small scale active storage system for building demand limiting

Borui Cui; Shengwei Wang; Yongjun Sun

doi:10.1016/j.energy.2014.06.084

Author(s)

Borui Cui
Shengwei Wang
Yongjun Sun

Detail(s)

Original language	English
Pages (from-to)	787-800
Journal / Publication	Energy
Volume	73
Publication status	Published - 14 Aug 2014

Link(s)

DOI	DOI https://doi.org/10.1016/j.energy.2014.06.084 Final Published version
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Link to Scopus	https://www.scopus.com/record/display.uri?eid=2-s2.0-84905753214&origin=recordpage
Permanent Link	https://scholars.cityu.edu.hk/en/publications/publication(ba834dcc-37c1-471c-8c71-121354e67ede).html

Abstract

This paper presents a quantitative analysis on the life-cycle cost saving potentials of active cold storage systems concerning the operational cost, initial investment and the space cost. A simulation-based optimal design method is developed and used to optimize the storage capacity and analyze the impact of the capacity on the life-cycle cost saving potentials. Using the actual load profiles of three real buildings of different sizes, the life-cycle cost saving potentials under demand limiting control are investigated under Hong Kong electricity price structure. The optimal storage capacities, monthly/annual operational cost savings and corresponding peak demand set-points are obtained from using the marginal decision rule. Results show that small scale storages can offer substantial annual net cost saving. In addition, it can help the grid to achieve higher grid power reliability by enhancing the demand response ability of buildings. © 2014 Elsevier Ltd.

Research Area(s)

Building demand limiting, Life-cycle cost saving, Simulation-based optimal design, Small scale active storage system

Citation Format(s)

[ RIS ] [ BibTeX ]

Life-cycle cost benefit analysis and optimal design of small scale active storage system for building demand limiting. / Cui, Borui; Wang, Shengwei; Sun, Yongjun.
In: Energy, Vol. 73, 14.08.2014, p. 787-800.

Research output: Journal Publications and Reviews › RGC 21 - Publication in refereed journal › peer-review

Cui, B, Wang, S & Sun, Y 2014, 'Life-cycle cost benefit analysis and optimal design of small scale active storage system for building demand limiting', Energy, vol. 73, pp. 787-800. https://doi.org/10.1016/j.energy.2014.06.084

Cui, B., Wang, S., & Sun, Y. (2014). Life-cycle cost benefit analysis and optimal design of small scale active storage system for building demand limiting. Energy, 73, 787-800. https://doi.org/10.1016/j.energy.2014.06.084

Cui B, Wang S, Sun Y. Life-cycle cost benefit analysis and optimal design of small scale active storage system for building demand limiting. Energy. 2014 Aug 14;73:787-800. doi: 10.1016/j.energy.2014.06.084

Cui, Borui ; Wang, Shengwei ; Sun, Yongjun. / Life-cycle cost benefit analysis and optimal design of small scale active storage system for building demand limiting. In: Energy. 2014 ; Vol. 73. pp. 787-800.