Volume 5: Innovative Solutions for Energy Transitions: Part IV

Investment Analysis and Sizing of a Heat PUMP in a Multi-Vector Energy System: A Case Study at University of Warwick Xiandong Xu, Muditha Abeysekera, Joel Cardinal, Meysam Qadrdan, Jianzhong Wu

Abstract

This paper presents a methodology to evaluate the whole system energy-economic-environmental performance and the economic viability of integrating new technology options such as heat pumps, energy storage units to an existing multi-vector energy system. The transition to a low carbon energy system would require that decisions to invest in new low carbon technology in local energy supply systems carefully consider the choice of technology as there are a plethora of technology options available with varying degrees of uncertainty to reach the same destination. The methodology is applied on a real campus multivector energy system to evaluate the whole system performance and economic viability of integrating heat pumps to its existing energy system that depends on gas fired CHP and gas boilers for its heat supply.

Keywords heat pump, investment analysis, whole system analysis, campus multi-vector energy systems