Optimization of integrated energy storage for implicit demand-side flexibility: The case study of Singapore office buildings

Abstract / Summary

The economic analysis shows that both the thermal energy and battery storage options are feasible for office buildings in Singapore considering the investment conditions from year 2020 onwards. While chilled-water thermal energy storage is well established and relatively simple technology, the battery storage displays better economic return when selecting Li-Ion Nickel Manganese Cobalt (NMC) technology. The optimal daily schedule of both storage solutions is presented in this study, showing how the optimization tool leverages the price signals, relying on trade-offs between operational expenditures and investment costs for the energy storage systems.

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