Modelling the Value of Controllable Thermal Electric Storage
Energy Reform’s Epiphron production cost and reliaiblity assessment model was used to estimate the flexibility value of Smart Thermal Electric Storage devices, deployed at scale as a domestic home heating solution. Using building to grid modelling, the results show significant production cost reductions, reduced renewable curtailment and increased system reliability.
RealValue (Realising Value from Electricity Markets with Local Smart Electric Thermal Storage Technology): The Horizon 2020 RealValue project sought to unlock the energy potential of a demand side management (DSM) system, installing thousands of Smart Electric Thermal Storage Systems (SETS) into over 800 homes and businesses across Ireland, Germany and Latvia. Analysis of the power market design from the perspective of demand response was also completed.
The modelling work generalised the results of the demonstrations, considering the impact of the wide-scale rollout of smart local energy storage in a broader future European energy system context, something that may also be of specific interest to GIE/GSE? Detailed integrated building models, network models and power system models were also developed and refined to complete a cost benefit analysis for the technology in a number of European settings.
Team members Dr Joseph Dillon and Dr Ciara O’Dwyer were responsible for this detailed work on the Realvalue project using Energy Reform’s Epiphron model. This once again demonstrates the strong modelling capabilities of the team to develop models of new storage technologies and in designing and carrying out complex modelling projects to comprehensively demonstrate the value of various storage technologies.