Abstract

This paper reports on the results of analyzing yearlong monitored 15 min data from the cooling plant of a large university campus consisting of multiple chillers and multiple chilled water Thermal Energy Storage (TES) tanks. The objective of the analysis was to determine whether the addition of another TES tank would be economically justified under the present electric rate structure and cooling load demand of the campus. The analysis was done: (i) using blended on-peak and off-peak energy rates (an approach commonly adopted due to its simplicity for evaluating different system alternatives and operating strategies meant to reduce cost and/or energy use), and (ii) using the actual electric rate structure which includes energy and demand charges. The latter rate structure suggests a 42 year payback, while the former rates predicted a payback period of over 100 years. If the incremental avoided cost of an additional chiller (to meet anticipated increases in cooling loads) is included in the economic analysis, the payback will be greatly reduced from the 42 year payback, and make this option a design choice meriting further investigation. The study also suggests a way of generating indifference plots which provide insights into how future changes in the electric rate structure would impact the payback period. The methodology adopted in this study would serve as a case study example to energy analysts evaluating TES systems as a design option for meeting increasing cooling demand and reducing costs in an existing building or campus facility.

Original languageEnglish (US)
Title of host publicationEnergy
PublisherAmerican Society of Mechanical Engineers (ASME)
Volume6A-2015
ISBN (Electronic)9780791857434
DOIs
StatePublished - 2015
EventASME 2015 International Mechanical Engineering Congress and Exposition, IMECE 2015 - Houston, United States
Duration: Nov 13 2015Nov 19 2015

Other

OtherASME 2015 International Mechanical Engineering Congress and Exposition, IMECE 2015
CountryUnited States
CityHouston
Period11/13/1511/19/15

Fingerprint

Electric rates
Thermal energy
Energy storage
Cooling
Costs
Economic analysis
Water

ASJC Scopus subject areas

  • Mechanical Engineering

Cite this

Feasibility analysis of thermal energy storage : Differences using blended versus actual rate schedules. / Ramesh, Vivek; Reddy, T Agami.

Energy. Vol. 6A-2015 American Society of Mechanical Engineers (ASME), 2015.

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Ramesh, V & Reddy, TA 2015, Feasibility analysis of thermal energy storage: Differences using blended versus actual rate schedules. in Energy. vol. 6A-2015, American Society of Mechanical Engineers (ASME), ASME 2015 International Mechanical Engineering Congress and Exposition, IMECE 2015, Houston, United States, 11/13/15. https://doi.org/10.1115/IMECE2015-52094
Ramesh, Vivek ; Reddy, T Agami. / Feasibility analysis of thermal energy storage : Differences using blended versus actual rate schedules. Energy. Vol. 6A-2015 American Society of Mechanical Engineers (ASME), 2015.
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