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Modeling the Value of Flexible Heat Pumps


  • Bjoern Felten
  • Christoph Weber

    (Chair for Management Sciences and Energy Economics, University of Duisburg-Essen (Campus Essen))


Demand side management has been proposed as one means to improve integration of high shares of nondispatchable renewables-based electricity generation. Among other technologies, residential heat pumps are seen as suitable application for demand side management. Thus, we present a model of an air-water heat pump combined with a thermal energy storage. This heating system supplies heat to a floor-heated building. All subsystem dynamics (thermal energy storage, heating zone, water circuit of the floor heating, heated floor) are modeled in detail. That is dynamics are described by differential equations which are based on thermodynamic first principles. In terms of heat pump operation, we derive several model-predictive control strategies following different objectives. These strategies aim at the minimzation of electricity consumption, procurement prices or operational costs. The difference in operational costs of the flexible operation and of the non-optimized operation represents the value of this flexibility option. The model is designed to assess manifold technical set-ups and economic conditions and, thereby, lays the foundation for further detailed analyses.

Suggested Citation

  • Bjoern Felten & Christoph Weber, "undated". "Modeling the Value of Flexible Heat Pumps," EWL Working Papers 1709, University of Duisburg-Essen, Chair for Management Science and Energy Economics.
  • Handle: RePEc:dui:wpaper:1709

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    References listed on IDEAS

    1. Gils, Hans Christian, 2014. "Assessment of the theoretical demand response potential in Europe," Energy, Elsevier, vol. 67(C), pages 1-18.
    2. Fehrenbach, Daniel & Merkel, Erik & McKenna, Russell & Karl, Ute & Fichtner, Wolf, 2014. "On the economic potential for electric load management in the German residential heating sector – An optimising energy system model approach," Energy, Elsevier, vol. 71(C), pages 263-276.
    3. Mathiesen, B.V. & Lund, H. & Connolly, D. & Wenzel, H. & Østergaard, P.A. & Möller, B. & Nielsen, S. & Ridjan, I. & Karnøe, P. & Sperling, K. & Hvelplund, F.K., 2015. "Smart Energy Systems for coherent 100% renewable energy and transport solutions," Applied Energy, Elsevier, vol. 145(C), pages 139-154.
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    More about this item


    Heat Pump; Model-Predictive Control; Real-Time Pricing; Demand Side Management.;
    All these keywords.

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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    This paper has been announced in the following NEP Reports:


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