AC/DC building distribution network design and management - part III (manage power usages through analyzing real-time power market prices)
Singapore is currently grappling with escalating energy demands and rising electricity prices, attributed to factors like Covid-19, the Russian War, and electricity tariff components, there is a pressing need for Singapore to explore innovative strategies for energy management. This study focuses on...
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| Format: | Final Year Project |
| Language: | English |
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Nanyang Technological University
2023
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| Online Access: | https://hdl.handle.net/10356/172628 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Singapore is currently grappling with escalating energy demands and rising electricity prices, attributed to factors like Covid-19, the Russian War, and electricity tariff components, there is a pressing need for Singapore to explore innovative strategies for energy management. This study focuses on leveraging real-time power market prices to optimize energy consumption, harnessing market fluctuations to reduce electricity costs, and promote a more sustainable and cost-effective energy landscape in Singapore. The objective of this project is to analyze the feasibility of managing power consumption by referencing real-time market prices and the implications of incorporating renewable energy sources, including rooftop PV systems and ESS, in future distribution networks. |
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