How much could heat pumps earn selling wholesale grid services? I estimate $25-100 annually per nameplate electrical kW from regulation + synchronous reserve in PJM. A typical home's central air-source heat pump could earn $75-300.
#electrifyeverything #energytwitter #heatpumps
#electrifyeverything #energytwitter #heatpumps
Not huge revenue, but enough to cover aggregation/instrumentation costs within a couple of years. A heat pump aggregator may be able to provide these services alongside others, like demand response curtailment, voltage support, or energy price arbitrage. 2/
These estimates are for reversible variable-speed air-source heat pumps, which both heat and cool, so can provide grid services most of the year. Revenues will be lower for heating-only or fixed-speed (on/off) units. Source is a forthcoming paper. 3/
Big idea: heat pumps and renewables could form a virtuous cycle: renewables make electricity cleaner (+cheaper?), driving adoption of heat pumps, which provide grid services that help integrate more renewables. Upshot: less fossil fuel use both on the grid and in buildings. 4/
Pairing heat pumps with #storage could increase grid-service revenues. Thermal storage is particularly attractive as it helps heat pumps meet peak demand, reducing winter peak impacts on the grid and allowing smaller heat pump installs. 5/
I think this is a thing? @threadreaderapp please unroll
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