Improve Plant Profitability By Optimizing Thermal Energy Storage
Thermal Energy Storage (TES) systems increase the profitability of combined cycle power plants by exploiting daily pricing patterns to chill water in off-peak hours and then provide turbine inlet air cooling in peak demand periods to boost MW output and improve heat rate.
TES systems are however often operated according to default running schedules which are based upon vendor design calculations, and do not take into account the actual prices of electricity and natural gas, or the weather conditions, or the thermodynamic state of the plant. This means that there are still further significant benefits – in the order of $2,000 to $5,000/day for 500-750 MW combined cycle units – to be obtained by taking these factors into account and then operating the TES in an optimal manner.
We have developed an intelligent software solution our AirSonic™ IQ which computes the optimal TES running schedule for both day-ahead and real-time markets. The application utilizes data from both the power plant and the energy trading floor, and determines – using state-of-the-art optimization techniques – how to maximize the cash flow within a given time period. The benefits are:
Provides additional yearly profitability of up $500,000 to $1,000,000 per year, over and above default system operation
Gets sustained maximum generating plant output for the next 24 hours using real time information about plant performance, chiller performance, and storage tank levels.
Simplifies different operating scenarios for Trader and Operator.
Alerts plant operator when to fill tank, how to divide flow between the tank and chiller, and optimum T2 set point based on marketing strategy.
Allows automation of TES system according to day ahead schedule.