Strategic modeling for economic optimization of grid-tied energy assets

US9846886B2 · kind B2 · utility

Assignee

• Palo Alto Research Center Incorporated · US

Inventors

• Daniel H. Greene · Sunnyvale, US
• Robert MCHENRY · Burlingame, US
• Bhaskar Saha · Redwood City, US
• Sylvia Joan Smullin · Menlo Park, US
• David Eric Schwartz · Redwood City, US
• Sean Garner · San Francisco, US

Key dates

• Filing date: Nov 7, 2013
• Grant date: Dec 19, 2017
• Expiry date: Dec 18, 2034

Classification

• Technology area (CPC Y): Emerging Cross-Sectional Technologies
• CPC primary: Y04S50/14
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

One embodiment of the present invention provides an energy-asset control system for utilizing an energy asset to provide one of more modes of operation services. The system includes an economic optimizer configured to identify at least one mode of operation opportunity based on current and/or future market conditions; a prognostics module configured to perform a prognostic analysis associated with the mode of operation opportunity for the energy asset using an existing model, and determine a confidence level associated with the prognostic analysis; and an operation controller. The economic optimizer is further to configured to, in response to the prognostics module determining the confidence level exceeding a predetermined threshold, determine an expected profit of the mode of operation opportunity based on outcomes of the prognostic analysis; and optimize, over a predetermined time period, a usage of the energy asset based on the expected profit of the mode of operation opportunity.