AC/DC building distribution network design and management - part III (manage power usages through analyzing real-time power market prices)

• Main Author: Liew, Derrick Yi Liang
• Other Authors: Tang Yi
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Electrical and electronic engineering::Electric apparatus and materials
• Online Access: https://hdl.handle.net/10356/172628
• Institution: Nanyang Technological University

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.