Month: December 2023
Cost Minimization through Flexible Demand Optimization
Cost Minimization through Flexible Demand Optimization
13/12/2023
In the pursuit of cost minimization, OPENTUNITY is at the forefront of revolutionizing the energy landscape by optimizing the scheduling of flexible demand for consumers and energy communities. Our focus encompasses crucial elements such as HVACs (heating, ventilation, and air conditioning), domestic hot water (DHW) devices, electric vehicles (EVs), and energy storage systems.
Our partner Hypertech a key player in this venture, is actively developing a Mixed-Integer Linear Programming (MILP) model to achieve optimal results in flexible demand optimization. The essence of this approach lies in the strategic time shifting of loads, leveraging baseline profiles provided for each asset. This strategy proves to be pivotal in achieving lower customer bills, especially when coupled with a variable price profile available to consumers.
To illustrate the tangible benefits of our methodology, consider the following example involving two households equipped with two DHW devices and an HVAC system. Through our approach, the demand is intelligently shifted to time steps when electricity prices are lower. The outcome? A substantial cost reduction of 12.5%, showcasing the efficiency and practicality of OPENTUNITY’s commitment to cost-effective energy solutions.
ENLIT, networking and Christmas wishes
ENLIT, networking and Christmas wishes
01/12/2023
This week, OPENTUNITY made its debut in the dynamic world of “ENLIT” at the EU Project Zone of ENLIT 2023, featuring a stand and active participation in a hub session centered around “Grid Technologies.”
With the festive season around the corner, this event served as a delightful pre-Christmas gathering for numerous EU-funded projects. It was an ideal meeting point for projects involved in Smart Grid and Digitalization as part of the BRIDGE initiative. The venue provided a unique opportunity to connect with other projects, foster collaborations, and highlight the benefits and potential impact of the project to other visitors on energy sector driving the energy transition.
OPENTUNITY proudly hosted a booth alongside other EU projects and engaged in the “Grid Technologies” session, which focused on the grid infrastructure and technologies crucial for facilitating the energy transition. During this session, our project coordinator elucidated that OPENTUNITY is actively developing digital solutions for the grid to support the energy transition. This includes the creation of software platforms designed to assist small Distribution System Operators (DSOs) lacking proper topology data and state estimation, thereby enhancing their functionalities.
The session featured lively discussions involving various projects such as Smart5Grid, TRANSLATE, VPP4ISLANDS, LIFE SF6-FREE HV BREAKER, LIFE SF6-FREE GIS, and SECO2ND LIFE GIS. Beyond these interactions, the session provided an opportunity to express a Christmas wish to the European Commission concerning Energy Policy.
At OPENTUNITY, our focus is on Artificial Intelligence, where data plays a pivotal role. Smart meters stand out as a primary source of this essential data. Therefore, OPENTUNITY’s Christmas wish revolves around the continuous and accelerated rollout of smart meters throughout Europe. While some countries, like Spain, have successfully completed this rollout, many other EU countries have only just begun. This lag in progress means that we are currently missing out on valuable data necessary for advancing innovative Grid Technologies in line with the goals of the energy transition.
