Assessing the economic viability of a proposed DSM program utilizing heat pump driven thermochemical heat storage

Nowadays, thermal energy storage systems are of particular interest for balancing the mismatch between renewable electricity production and the peak demand hours. Using thermal storage technologies to provide heat during the peak demand hours enables alleviating the need for electricity usage, which is attractive for both customers and the utilities. Due to its high energy storage density and long-term storage capability, thermochemical heat storage (TCHS) compromises the opportunity of reducing space heating costs of buildings. The current study investigates the viability of implementing a demand-side management (DSM) strategy aimed at utilizing the stored energy of TCHS systems during peak hours, thereby providing economic benefits for electric utility. With this purpose, initially, annual heating load of the living room of a hypothetical building under the United Kingdom (UK) climate conditions is simulated by employing DesignBuilder software. Later, sizing of TCHS unit is completed by considering the obtained energy storage density in a previous experimental work. In the study, vermiculite-calcium chloride (V-CaCl2) is selected as the TCHS material due to its proven performance data available in the literature. Based on the obtained results, economic feasibility of the proposed DSM program is evaluated by using net present value (NPV) and saving to investment ratio (SIR) method. Potential strategies and approaches for improving economic viability of TCHS-HP systems are also discussed.