Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study
In recent years, there has been an increasing urgency among energy-intensive companies to find innovative ways of mitigating the negative financial impacts of rising fuel and electricity prices. Consequently, companies are exploring new technological solutions to lower electricity costs, such as inv...
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-03-01
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| Series: | Energies |
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| Online Access: | https://www.mdpi.com/1996-1073/17/6/1307 |
| _version_ | 1827306405346934784 |
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| author | Pablo Benalcazar Marcin Malec Przemysław Kaszyński Jacek Kamiński Piotr W. Saługa |
| author_facet | Pablo Benalcazar Marcin Malec Przemysław Kaszyński Jacek Kamiński Piotr W. Saługa |
| author_sort | Pablo Benalcazar |
| collection | DOAJ |
| description | In recent years, there has been an increasing urgency among energy-intensive companies to find innovative ways of mitigating the negative financial impacts of rising fuel and electricity prices. Consequently, companies are exploring new technological solutions to lower electricity costs, such as investing in their own power generation sources or storage systems. In this context, this article presents a data-driven optimization-based framework to manage and optimize the operation of a hybrid energy system within industries characterized by substantial power requirements. The framework encompasses several key aspects: electricity generation, self-consumption, storage, and electric grid interaction. The case of an energy-intensive company specializing in wood processing and office furniture production is evaluated. This study explored two system configurations of hybrid energy systems within an energy-intensive company. The result of the analyzed case shows that the system’s flexibility is enhanced by its ability to store energy, resulting in electricity cost savings of nearly 72% and total operating cost savings of 20%. |
| first_indexed | 2024-04-24T18:20:52Z |
| format | Article |
| id | doaj.art-0438b2afede74a338127fb27bf1c90bf |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-04-24T18:20:52Z |
| publishDate | 2024-03-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-0438b2afede74a338127fb27bf1c90bf2024-03-27T13:35:24ZengMDPI AGEnergies1996-10732024-03-01176130710.3390/en17061307Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case StudyPablo Benalcazar0Marcin Malec1Przemysław Kaszyński2Jacek Kamiński3Piotr W. Saługa4Mineral and Energy Economy Research Institute, Polish Academy of Sciences, Wybickiego 7A, 31-261 Kraków, PolandMineral and Energy Economy Research Institute, Polish Academy of Sciences, Wybickiego 7A, 31-261 Kraków, PolandMineral and Energy Economy Research Institute, Polish Academy of Sciences, Wybickiego 7A, 31-261 Kraków, PolandMineral and Energy Economy Research Institute, Polish Academy of Sciences, Wybickiego 7A, 31-261 Kraków, PolandDepartment of Management, Faculty of Applied Sciences, WSB University, 41-300 Dąbrowa Gornicza, PolandIn recent years, there has been an increasing urgency among energy-intensive companies to find innovative ways of mitigating the negative financial impacts of rising fuel and electricity prices. Consequently, companies are exploring new technological solutions to lower electricity costs, such as investing in their own power generation sources or storage systems. In this context, this article presents a data-driven optimization-based framework to manage and optimize the operation of a hybrid energy system within industries characterized by substantial power requirements. The framework encompasses several key aspects: electricity generation, self-consumption, storage, and electric grid interaction. The case of an energy-intensive company specializing in wood processing and office furniture production is evaluated. This study explored two system configurations of hybrid energy systems within an energy-intensive company. The result of the analyzed case shows that the system’s flexibility is enhanced by its ability to store energy, resulting in electricity cost savings of nearly 72% and total operating cost savings of 20%.https://www.mdpi.com/1996-1073/17/6/1307hybrid energy systemsoptimizationelectricityenergy-intensive sectors |
| spellingShingle | Pablo Benalcazar Marcin Malec Przemysław Kaszyński Jacek Kamiński Piotr W. Saługa Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study Energies hybrid energy systems optimization electricity energy-intensive sectors |
| title | Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study |
| title_full | Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study |
| title_fullStr | Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study |
| title_full_unstemmed | Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study |
| title_short | Electricity Cost Savings in Energy-Intensive Companies: Optimization Framework and Case Study |
| title_sort | electricity cost savings in energy intensive companies optimization framework and case study |
| topic | hybrid energy systems optimization electricity energy-intensive sectors |
| url | https://www.mdpi.com/1996-1073/17/6/1307 |
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