Rapid visualization of the potential residential cost savings from energy storage under time-of-use electric rates

Buildings feature a prominent role in electric grid loading, as they use about 75% of the total electricity generated in the United States and are main drivers of electric peak demand in the summer due to electrically driven air conditioning systems. Energy storage is a key technology that can increase energy cost savings, and add flexibility to the grid. However, cost is an important factor to consider. This study proposes a rapid approach that allows for visualization of potential cost savings by introducing energy storage as a peak load control for residential buildings in California. A combination of EnergyPlus load data generation, Matlab post-processing, and Google Fusion Tables data presentation analyses the potential cost savings when energy storage is implemented and TOU rates are applied. The study presents potential annual cost savings of $420 per home with storage capacities of 24 kWh.