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Green Technologies To Reduce Electricity Cost


About This Course

This application serves as a sizing tool for distributed energy resources, facilitating the cost-effective selection of green technology ratings for minimizing electricity expenses in residential buildings. Utilizing real demand and generation profiles from an actual prosumer in Nicosia, the tool estimates electricity costs under diverse configurations and requirements. It aids in determining the optimal dimensions/ratings of a Photovoltaic (PV) and Battery Storage System (BSS) to efficiently reduce electricity costs. The tool considers various static pricing schemes like Net-Metering or Net-Billing applicable in Cyprus. Furthermore, it showcases the integration of an intelligent optimization-based energy management solution, such as WiseStorage, to further enhance cost reduction, particularly under a variable pricing scheme as observed in Spain, compared to the standard self-consumption mode.