Abstract
This paper examined the annual monetary savings (€) produced by multiple microgrid controllers in an office building connected to a smart grid. Energy consumption of each occupant of the office building was recorded in order to obtain the total hourly electricity consumption of the building. Solar photovoltaic power outputs were obtained from the Cork Institute of Technology Zero2020 microgrid test bed. Four different electricity tariffs, four dynamic feed-in tariffs (FITs) and three microgrid control methods were evaluated in order to assess the most cost effective control method. The microgrid control methods were; load priority, grid priority and optimal cost priority. The annual monetary savings relative to cost of buying electricity from the grid varied from 83% to 114% across the various electricity tariffs and microgrid controllers. The results showed that varying feed-in tariff dynamically lead to greater monetary savings and optimal cost priority control produced the highest monetary savings.
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