Patent US10580094

Energy cost optimizer
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US10580094

1. An energy cost optimizer comprising an electronic data interface, a computing device, and a switch for an electric load, said computing device comprising an electronic processor and electronic memory, wherein said computing device is configured (9) (9)

to obtain through an electronic input of said computing device a first time series of forward-looking electricity prices for an electricity market and holding said time series in said electronic memory of said computing device,

said time series comprising a plurality of said forward-looking electricity prices, with each member of said plurality corresponding to a specific time interval characterized by a start time and an end time, and each of said prices being a cost per unit of electricity,

to obtain through an electronic input of said computing device a second time series of data points, said second time series of data points being a different time series than said first time series,

said second time series comprising a plurality of values, with each member of said plurality corresponding to a specific time interval characterized by a start time and an end time,

to compute an improved time series of estimated electricity prices, by computing on said computing device at least one price correction value using data from said second time series, and applying said price correction value to said first time series,

said improved time series comprising a plurality of improved forward-looking electricity prices, with each member of said plurality corresponding to a specific time interval characterized by a start time and an end time, and each of said prices being a cost per unit of electricity,

to hold said improved time series of estimated electricity prices in said electronic memory,

to determine an expected benefit from running said load by evaluating a function stored in said electronic memory,

and to control said electric load automatically by said computing device through said switch so as to run said load if said expected benefit from running said load at the present time exceeds said price estimate according to said improved time series.

2. The energy cost optimizer of claim 1 where said improved time series is an estimate for a settlement price that comprises an unweighted or load-weighted average of several locational marginal prices. (2) (0)

5. The energy cost optimizer of claim 1 where said second time series comprises realized price values for the present and/or past. (4) (0)

10. The energy cost optimizer of claim 1 where said load is being controlled so as to shift load from periods with higher expected prices to periods of lower expected prices. (0)

11. The energy cost optimizer of claim 1 where said time series of improved price estimates comprises a charge that is a function of electric load on an electric grid or a subsection thereof, said grid or subsection being larger than the billing account for which said energy cost optimizer optimizes energy cost. (0)

12. The energy cost optimizer of claim 1 where said electric load is an HVAC system. (0)

13. The energy cost optimizer of claim 1 where said electric load is substantively a battery. (0)

14. The energy cost optimizer of claim 1 where said estimation and said control are performed in the same apparatus. (0)

15. The energy cost optimizer of claim 1 where a server computer publishes said improved time series and at least one electric load controller reads said improved time series from said server and controls said electric load automatically so as to run said load if said expected benefit from running said load at the present time exceeds said price estimate according to said improved time series. (0)

16. The energy cost optimizer of claim 1 where said optimizer controls said load as well as an electric generator. (0)

17. A method for optimizing the cost of electricity consumed by an electric load, comprising (9) (9)

obtaining, by a first computing device, through an electronic input of said computing device a first time series of forward-looking electricity prices for an electricity market and holding said time series in electronic memory of said computing device,

obtaining, by said first computing device, through an electronic input of said computing device a second time series of data points, said second time series of data points being a different time series than said first time series,

said second time series comprising a plurality of values, with each member of said plurality corresponding to a specific time interval characterized by a start time and an end time,

computing, by said first computing device, an improved time series of estimated electricity prices, by computing at least one price correction value using data from said second time series, and applying said price correction value to said first time series,

holding said improved time series of estimated electricity prices in said electronic memory,

to determine an expected benefit from running said load by evaluating a function stored in said electronic memory,

and controlling said electric load, by said first or by a second computing device, so as to run said load if said expected benefit from running said load at the present time exceeds said price estimate according to said improved time series.

18. The method of claim 17 where said improved time series is an estimate for a settlement price that comprises an unweighted or load-weighted average of several locational marginal prices. (2) (0)

21. The method of claim 17 where said second time series comprises realized price values for the present and/or past. (4) (0)

22. The method of claim 21 where said time series are combined using a time series model assuming reversion of the difference between predicted and realized values over time. (1) (0)

25. The method of claim 21 where said first time series comprises prices from a forward market for electricity and said second time series comprises prices from a real-time market for electricity. (0)

26. The method of claim 21 where said first time series comprises predictions calculated by an electric grid operator and said second time series comprises prices from a real-time market for electricity. (0)

27. The method of claim 21 where said second time series comprises realized loads from an electric grid or a subsection thereof, said grid or subsection comprising a plurality of customers. (0)

28. The method of claim 17 where said load is being controlled so as to shift load from periods with higher expected prices to periods of lower expected prices. (0)

29. The method of claim 17 where said improved time series comprises a charge that is a function of electric load on an electric grid or a subsection thereof, said grid or subsection being larger than the billing account for which said method optimizes energy cost. (1) (0)

31. The method of claim 17 where said electric load is an HVAC system. (2) (0)

34. The method of claim 17 where said electric load is a battery. (0)

35. The method of claim 17 where said electric load is an electric vehicle. (0)

36. The method of claim 17 where said first computing device is a server computer publishing said improved time series and said second computing device is an electric load controller reading said improved time series from said server and controls said electric load automatically so as to run said load if said expected benefit from running said load at the present time exceeds said price estimate according to said improved time series. (0)

37. The method of claim 17 where the operation of said load as well as of an electric generator is optimized. (0)

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Patent US10580094

Energy cost optimizer

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