Research on Operational Economics of the Integrated Energy System

Abstract

Building integrated energy system has become an important choice for breaking barriers of different end-use energy industries and improving overall energy efficiency. Aiming at conducting comprehensive optimization for the integrated system which consists of electric power loads, heating and cooling loads, this paper established an optimization model with the objective of the lowest power supply costs, while considering the priority of renewable energy consumption and the role of time-of use electricity prices of power grid, and taking into account different operational constraints, such as supply and demand balance of electricity, heating and cooling, CCHP outputs, etc.. An example system was selected to study the operational economics of the integrated energy system having interaction with the power grid or with the battery storage system. Study results show that battery storage system is more effective in reducing operational cost than interactive operation of the power grid because of the mismatch of PV generation and peak load need.