Energy and Economic Evaluation Analysis of a Residential Home Integrated with Energy Efficient Technologies
Open Access
- Graduate Program:
- Electrical Engineering
- Degree:
- Master of Science
- Document Type:
- Master Thesis
- Date of Defense:
- March 12, 2012
- Committee Members:
- David R Riley Ii, Thesis Advisor
- Keywords:
- smart grid
- pv
- photovoltaic systems
- home energy management system
- ems
- hems
- economic evaluation analysis
- Abstract:
- Increased energy costs, a strained power systems infrastructure, population growth and other factors have all contributed to the growing challenge of meeting rising energy demand. Distributed energy generation methods such as solar photovoltaics (PV), energy storage and residential energy management system technologies offer potential solutions by improving the grid infrastructure and reducing energy consumption. This research concentrates on the energy and economic evaluation of smart grid-renewable energy integrated systems. Technical and economic assessment of the home energy management system (EMS) integrated with various renewable generation resources is evaluated on the residential level. Resulting financial matrix incorporates nine different system configurations, three different rate structures and provides insight into the payback rates, costs/benefits ratios and other characteristics of these particular systems. The result of the research was an energy and economic performance evaluation analysis for various configurations of the system. The most financially and technically feasible configuration for the given suite of technologies was a PV-EMS integrated system with a cost of $12,550 and payback time of ~10 years. Home energy management system evaluation proved to provide energy savings on the order of ~2 kWh/ 3 hour demand response event. The EMS system costs can range from $450 to $550 based on a configuration of the system with a payback rate of 4-5 years based on a utility infrastructure. These findings are confirmed by the qualitative data obtained during demand response events conducted in both the State College area as well as Groton Electric Company located in Groton, Massachusetts.