Modelling and operating optimization of heat pumps and thermal energy storage with additional electrified steam production
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Journal Title
Journal ISSN
Volume Title
Sähkötekniikan korkeakoulu |
Master's thesis
Author
Date
2024-06-10
Department
Major/Subject
Sustainable Energy Systems and Markets
Mcode
ELEC3048
Degree programme
Master's Programme in Advanced Energy Solutions
Language
en
Pages
80 + 8
Series
Abstract
When striving towards low-carbon energy-production, electrification and utilization of renewables are the key factors. This thesis has been done for Adven Oy in order to study industrial electrification and thermal energy storage solutions. An essential part of the thesis has been planning and building a cost optimization tool for an existing heat pump plant. Heat pump plant produces energy for industrial consumer by utilizing the waste heat for high efficiency heat pumps to serve heat to district heating network. The site also has a thermal energy storage to balance supply and demand. Some of the key drivers of industrial electrification, which in this respect are the power markets, industrial heat pumps, and thermal energy storages, are analysed. As the share of renewables is increasing, so does the volatility on the power prices causing challenges for cost optimization in industrial processing. Energy storage systems can balance the costs by storing energy produced during inexpensive spot prices. For the techno economic analysis, a unique calculation tool has been developed. The tool models the hourly level waste heat supply and heat pump production in respect of the energy consumption of the consumer. In addition, the model calculates how much the thermal energy storage system can be utilized to support demand flexibility to the system. After modelling the data, the possibility for additional investment based on renewable electricity was investigated. The calculations resulted in the clear advantage of increased electrification by adding an electric boiler to the existing system, both economically and environmentally. Investment analysis was done by a cash flow model. Today’s energy market encourages industrial consumers to electrify their processes. To make electrified investment a competitive alternative, the consumer must be familiar with the behavior of the power markets and be able to invest in a solution that offers demand flexibility to energy production.Description
Supervisor
Lahdelma, RistoThesis advisor
Toivonen, LeoKeywords
heat pump, electrification, thermal energy storage, energy industry, power market, electric boiler
