Heat pumps are expected to play an important role in the future energy system as they enable the exploitation of low temperature heat sources and provide a link between the heating and the electricity sector. They can thus help to balance the power grid by turning on/off according to the state of the power grid.
Heat pumps can be integrated as large central units and as individual small-scale units. On the one hand providing flexibility from large-scale units has the advantage of providing high capacity and high felxibility due to the storage capacity of district heating systems. On the other hand, small units can start-up faster and have more hours, where they are not used and thus abetter availability.
The task of this project is to analyse the economic benefit of providing regulation power from large-scale heat pumps compared to individual units. To do this, the student will need to get familiar with the Danish regulation market. Model the heat pump operation in GAMS and do an economic evaluation of the benefits.