Maintenance Costs Research Articles

Enhancing the performance of zero energy buildings with boosted coyote optimization and elman neural networks

This research paper aims to optimize electrical system modeling to minimize CO2 emissions, improve reliability, and reduce costs. It proposes integrating Elman Neural Network (ENN) and metaheuristic algorithm to evaluate environmental impact and optimize system performance. The goal is to create a mathematical model considering renewable energy sources, grid energy, CO2 emissions, and maintenance costs, and use metaheuristic algorithms to determine the optimal combination of wind turbines and photovoltaic panels. To train the ENN model and optimize the system, a three-stage approach is proposed. Quasi-random numbers are generated using Sobol techniques to create input data, which is then processed by TRNSYS for simulation. The proposed approach incorporates an ENN with Boosted version of the Coyote optimization algorithm to accurately model and predict the behavior of Hybrid Renewable Energy Systems for Zero Energy Buildings. The results demonstrate the effectiveness of the proposed approach. Our method significantly reduces energy consumption, costs, and system reliability, achieving a 25% reduction in energy consumption and 12% reduction in system cost, and is effective in optimizing hybrid solar/wind and hydrogen storage systems. The optimal system configuration significantly reduces CO2 emissions, achieves a high level of system reliability, and minimizes costs. Comparative analysis with previous studies showcases the superiority of the proposed method in achieving comprehensive optimization. In conclusion, this study combines AI techniques and metaheuristic algorithms to optimize electrical system design, considering environmental, technical, and economic factors. The proposed approach overcomes limitations in previous studies and offers an effective solution to address the optimization problem.

Current status and future challenges of digital twins for structural health monitoring in civil infrastructures

Abstract Structural Health Monitoring (SHM) ensures the reliability, effectiveness, and performance of buildings and other structures. The introduction of digital twin technology in the last several decades has changed the field of SHM, allowing for real-time monitoring, analysis, and prediction of structural behavior. This research looks in depth at the usage of digital twins in the structural health monitoring of civil infrastructure developments. It analyzes the main features, benefits, challenges, and recent advancements in this rapidly increasing area. The review also discusses case studies and practical applications of digital twins for tracking and managing the health of civil infrastructures, providing insights into their potential for improving structural performance, lowering maintenance costs, and increasing the resilience of our built environment. This review paper provides a comprehensive overview of the usage of digital twins in critical infrastructure project structural health monitoring. It's an excellent tool for academics, scientists, and practitioners interested in utilizing digital twin technologies to improve our built environment's safety, performance, and resilience. This study aims to promote more significant research and innovation in developing and deploying digital twins for structural health monitoring by stressing the benefits, limits, and current advances in this field.

Dynamic grouping maintenance optimization by considering the probabilistic remaining useful life prediction of multiple equipment

For multi-equipment maintenance of modern production equipment, the economic correlation and degradation uncertainty may lead to insufficient or excessive maintenance, increasing maintenance costs. This paper proposes a dynamic grouping maintenance method based on probabilistic remaining useful life (RUL) prediction for multiple equipment. Long short term memory (LSTM) is developed to predict the equipment probability RUL by the Variational Auto-Encoder (VAE) resampling. Then, the dynamic grouping maintenance model is constructed to minimize the maintenance cost rate under the known probabilistic RUL information. The gazelle optimization algorithm (GOA) is used to determine the optimal maintenance time for each equipment. To better verify the effectiveness of the proposed method, a numerical case with six wind turbines is introduced to analyse the performance of GOA. Moreover, the advantages of dynamic grouping maintenance is verified by comparing with independent maintenance, whose maintenance cost rate is reduced by 10.01%.

Design, Simulation and Optimization of a Novel Transpired Tubular Solar Air Heater

In this paper, a novel tubular solar air heater is introduced. In this air heater, the hot boundary layer is drawn into the absorber tube and can provide thermal energy at moderate temperatures. Several different cases were simulated and a correlation was proposed to predict the collector’s effectiveness as a function Rayleigh number and Reynolds number. An equation was derived to find the effectiveness of this collector. Finally, a real case was studied with non-uniform solar flux distribution, as well as radiation heat loss. Good agreement was found between the results and those derived by the proposed analytical method. For different suction values, the first-law and the second-law efficiencies were calculated. Based on the exergy analysis, exergy destruction in absorption is the dominant factor that is unavoidable in low-temperature collectors. It was shown that there is an optimum suction value at which the second-law efficiency is maximized. At the optimum point, temperature rise can reach 54 K, which is hardly possible with a flat plate collector. Based on the exergy analysis, the relation between tube wall temperature and air outlet temperature in their dimensionless forms at the optimum working condition was derived, and it was shown that effectiveness at the optimum working condition is around 0.5. This means that the air temperature rise shall be half of the temperature difference between collector wall and the ambient temperatures. A high outlet temperature besides the low cost of construction and maintenance are the main advantages of this air heater. With such a high temperature rise, this type of collector can increase the use of solar energy in domestic applications.

Efficiency and productivity gains of robotic surgery: The case of the English National Health Service.

This paper examines the effect of new medical technology (robotic surgery) on efficiency gains and productivity changes for surgical treatment in patients with prostate cancer from the perspective of a public health sector organization. In particular, we consider three interrelated surgical technologies within the English National Health System: robotic, laparoscopic and open radical prostatectomy. Robotic and laparoscopic techniques are minimally invasive procedures with similar clinical benefits. While the clinical benefits in adopting robotic surgery over laparoscopic intervention are unproven, it requires a high initial investment cost and carries high on-going maintenance costs. Using data from Hospital Episode Statistics for the period 2000-2018, we observe growing volumes of prostatectomies over time, mostly driven by an increase in robotic-assisted surgeries, and further analyze whether hospital providers that adopted a robot see improved measures of throughput. We then quantify changes in total factor and labor productivity arising from the use of this technology. We examine the impact of robotic adoption on efficiency gains employing a staggered difference-in-difference estimator and find evidence of a 50% reduction in length of stay (LoS), 49% decrease in post-LoS and 44% and 46% decrease in postoperative visits after 1year and 2years, respectively. Productivity analysis shows the growth in radical prostatectomy volume is sustained with a relatively stable number of urology surgeons. The robotic technique increases total production at the hospital level between 21% and 26%, coupled with a 29% improvement in labor productivity. These benefits lend some, but not overwhelming support for the large-scale hospital investments in such costly technology.

Study on Fault Monitoring Technology of Photovoltaic Panel Based on Thermal Infrared and Optical Remote Sensing

Abstract. Rapid access to the operating status of Photovoltaic (PV) panels and troubleshooting can save management and maintenance costs for the development of PV power plants, which is important for PV power plant management and power generation capacity assurance. The use of remote sensing technology to identify the faults of photovoltaic panels has developed rapidly, however, current research usually relies only on a single optical data source to identify and count the area of PV panels in a PV electric field, although there are literature on PV panel fault detection, only the surface fault identification of PV panels is tested, while the internal faults (such as panel bad points or bad lines) cannot be identified because of the limitations of optical remote sensing. In this paper, a photovoltaic panel fault monitoring technology based on multi-source remote sensing is proposed. The optical and thermal infrared hybrid data combined with deep learning technology are used to achieve rapid and accurate fault identification and localization of PV panel arrays. It can not only automatically identify PV panels that are obscured by dust and foreign objects, but also locate PV panels that have bad dots or bad lines, which greatly improves the ability and effectiveness of remote sensing PV panel fault monitoring. The high-resolution unmanned air vehicle (UAV) optical image and thermal infrared image are applied in this experiment. The Mask RCNN algorithm is used to accurately locate and number the photovoltaic panel of the optical image. Then, the fault scene classification model is established for the multi-type fault characteristics of the optical image and thermal infrared image within the panel range, so as to identify five types of faults, such as dust cover, branch cover, bird droppings cover, internal bad points and bad lines of PV panel, which effectively solves the problem that the single optical remote sensing image cannot identify the internal component faults of the photovoltaic panel under normal conditions.

A Fast GPU Schedule For À-Trous Wavelet-Based Denoisers

Given limitations of contemporary graphics hardware, real-time ray-traced global illumination is only estimated using a few samples per pixel. This consequently causes stochastic noise in the resulting frame sequences which requires wide filter support during denoising for temporally stable estimates. The edge avoiding à-trous wavelet transform amortizes runtime cost by hierarchical filtering using a constant number of increasingly dilated taps in each iteration. While the number of taps stays constant, the runtime of each iteration increases in these usually memory-throughput bound shaders with increasing dilation, because the increasing non-locality negatively impacts cache hit rates. We present a scheduling approach that optimizes usage of the memory subsystem by permutating global invocation indices in such a way that each wavelet filter iteration is applied through undilated taps. In contrast to prior approaches, our method has identical performance characteristics in each iteration, effectively decreasing maintenance cost and improving performance predictability. Furthermore, we are able to leverage on-chip memory and hardware texture interpolation. Our permutation strategy is trivial to integrate into existing wavelet filters as a permutation before and after each level of the wavelet filter. We achieve speedups between 1.3 and 3.8 for usual wavelet configurations in Monte Carlo denoising and computational photography.

Pengembangan Modul Stock Fulfillment Online Transaction pada Aplikasi Distribution Center System menggunakan Framework Flask di PT.XYZ

The rapid advancement of information technology necessitates that every business adapts to keep pace with technological developments. PT. XYZ, a retail and distribution company, faced challenges with their outdated technology, specifically Oracle Forms. Oracle Forms incurred high maintenance costs and was limited to running on legacy systems. Consequently, PT.XYZ decided to create a Stock Fulfillment Online Transaction module using the Flask frameworks and Python. The development process followed the Agile Scrum methodology, including stages such as requirement analysis, sprint planning, iterative development, continuous testing, and final evaluation. The outcome of this application development demonstrates that using Flask frameworks and Python allows for an application that can operate across various platforms while reducing maintenance costs.

Enhancing Ethiopian power distribution with novel hybrid renewable energy systems for sustainable reliability and cost efficiency

Economic development relies on access to electrical energy, which is crucial for society’s growth. However, power shortages are challenging due to non-renewable energy depletion, unregulated use, and a lack of new energy sources. Ethiopia’s Debre Markos distribution network experiences over 800 h of power outages annually, causing financial losses and resource waste on diesel generators (DGs) for backup use. To tackle these concerns, the present study suggests a hybrid power generation system, which combines solar and biogas resources, and integrates Superconducting Magnetic Energy Storage (SMES) and Pumped Hydro Energy Storage (PHES) technologies into the system. The study also thoroughly analyzes the current and anticipated demand connected to the distribution network using a backward/forward sweep load flow analysis method. The results indicate that the total power loss has reached its absolute maximum, and the voltage profiles of the networks have dropped below the minimal numerical values recommended by the Institute of Electrical and Electronics Engineers (IEEE) standards (i.e., 0.95–1.025 p.u.). After reviewing the current distribution network’s operation, additional steps were taken to improve its effectiveness, using metaheuristic optimization techniques to account for various objective functions and constraints. In the results section, it is demonstrated that the whale optimization algorithm (WOA) outperforms other metaheuristic optimization techniques across three important objective functions: financial, reliability, and greenhouse gas (GHG) emissions. This comparison is based on the capability of the natural selection whale optimization algorithm (NSWOA) to achieve the best possible values for four significant metrics: Cost of Energy (COE), Net Present Cost (NPC), Loss of Power Supply Probability (LPSP), and GHG Emissions. The NSWOA achieved optimal values for these metrics, namely 0.0812 €/kWh, 3.0017 × 106 €, 0.00875, and 7.3679 × 106 kg reduced, respectively. This is attributable to their thorough economic, reliability, and environmental evaluation. Finally, the forward/backward sweep load flow analysis employed during the proposed system’s integration significantly reduced the impact of new energy resources on the distribution network. This was evident in the reduction of total power losses from 470.78 to 18.54 kW and voltage deviation from 6.95 to 0.35 p.u., as well as the voltage profile of the distribution system being swung between 1 and 1.0234 p.u., which now comply with the standards set by the IEEE. Besides, a comparison of the cost and GHG emission efficiency of the proposed hybrid system with existing (grid + DGs) and alternative (only DGs) scenarios was done. The findings showed that, among the scenarios examined, the proposed system is the most economical and produces the least amount of GHG emissions.

Nanodiamond Coating in Energy and Engineering Fields: Synthesis Methods, Characteristics, and Applications.

Nanodiamonds are metastable allotropes of carbon. Based on their high hardness, chemical inertness, high thermal conductivity, and wide bandgap, nanodiamonds are widely used in energy and engineering applications in the form of coatings, such as mechanical processing, nuclear engineering, semiconductors, etc., particularly focusing on the reinforcement in mechanical performance, corrosion resistance, heat transfer, and electrical behavior. In mechanical performance, nanodiamond coatings can elevate hardness and wear resistance, improve the efficiency of mechanical components, and concomitantly reduce friction, diminish maintenance costs, particularly under high-load conditions. Concerning chemical inertness and corrosion resistance, nanodiamond coatings are gradually becoming the preferred manufacturing material or surface modification material for equipment in harsh environments. As for heat transfer, the extremely high coefficient of thermal conductivity of nanodiamond coatings makes them one of the main surface modification materials for heat exchange equipment. The increase of nucleation sites results in excellent performance of nanodiamond coatings during the boiling heat transfer stage. Additionally, concerning electrical properties, nanodiamond coatings elevate the efficiency of solar cells and fuel cells, and great performance in electrochemical and electrocatalytic is found. This article will briefly describe the application and mechanism analysis of nanodiamonds in the above-mentionedfields.

Energy Performance in Residential Buildings as a Property Market Efficiency Driver

Energy consumption plays an important role in contemporary economies. Its significance extends beyond utilitarian value, impacting economic robustness, environmental protection, and residents’ well-being. The escalating global energy requisites necessitate efficient energy utilization and a shift towards renewable sources to address climate change and strengthen energy independence. Developing accurate predictive models to forecast long-term energy costs and savings remains a complex problem. This paper aims to provide a methodology to identify the influence of building energy performance on real estate market efficiency, focusing on property maintenance costs. Real estate plays a crucial role in human life, serving both as a fundamental need and as a vehicle for achieving personal aspirations and secure financial investments, particularly during times of economic and social instability. Through interdisciplinary methodological architecture, this study addresses three key issues: the impact of rising energy costs on market efficiency, the responsiveness of the real estate market to energy price fluctuations, and the significance of property maintenance costs on market value. The research approach includes creating and applying AI algorithms capable of evaluating extensive datasets pertaining to real estate features. Utilizing machine learning methods, the algorithm determines the importance of energy efficiency measures as well as various other inherent and external attributes of properties. The suggested methodology provides a novel approach to improve the effectiveness of market efficiency analysis.

Sand-Laden Wind Erosion Pair Experimental Analysis of Aerodynamic Performance of the Wind Turbine Blades

In the Inner Mongolia region, sand and dust storms are prevalent throughout the year, with sand erosion having a particularly significant impact on the performance of wind turbine blades. To enhance the performance stability of wind turbines and reduce operation and maintenance costs, this study delves into the specific impact of sand-laden wind erosion on the aerodynamic performance of scaled-down wooden wind turbine blades. The experiment conducts vehicle-mounted tests on scaled models of 1.5 MW wind turbine blades that have been eroded by wind-sand flows from different zones, analyzing the changes in aerodynamic performance of wind turbines caused by the erosion. The results indicate that with an increase in the angle of installation, both the overall power output and the wind energy utilization coefficient of the wind turbines show a declining trend. The power outputs of both the partially eroded group and the fully eroded group are unable to reach the rated power level of 100 W. Compared to the uneroded group, the leading-edge eroded group demonstrated higher power output and wind energy utilization coefficients across most wind speed ranges. This finding verifies the possibility that the drag-reducing effect caused by pits from leading-edge erosion has a positive impact on the aerodynamic performance of the blades. It also provides a new research perspective and strong evidence for the study of erosion effects on wind turbine blades and the optimization of their aerodynamic performance.

Wind speed prediction

With the help of wind farms, wind energy is a vital renewable energy source that contributes significantly to the worlds energy balance. The lifespan and maintenance costs of wind turbines will be reduced with an accurate wind speed prediction. On the other hand, wind speed is highly volatile and unpredictable. Thus, it is essential to do research into creating complex models and algorithms for precise wind speed prediction. So far, some of the most promising models include Support Vector Machine (SVM), Artificial Neural Networks (ANN), and Autoregressive Moving Average (ARMA). Python, as an advanced and versatile programming language, is exceptionally suited for scripting the algorithms of these sophisticated models. This paper will use the data from Austin Texas and apply a Support Vector Machine (SVM) for wind speed prediction involves several stages, including data collection, data preprocessing, model selection, model training, parameter optimization, model validation, and prediction. Wind energy resource optimisation, maintenance cost reduction, and total wind farm efficiency can all be significantly improved by incorporating these models into predictive analytics and continuously improving them against changing data.

Design and operational control methodology for large-scale photovoltaic system in green port application

ABSTRACT Due to the complex-shading and ununiform-corrosion problems caused by the oceanic climate, the working conditions of photovoltaic (PV) system in port are poor. In this study, some effective PV topologies are developed and compared under typical oceanic conditions. In order to improve the output of port PV system, a novel maximum power point tracking (MPPT) method is developed, in which the convolutional neural network (CNN) and bidirectional long short time memory network (BiLSTM) are introduced to forecast the real-time optimal operation point. Finally, the developed topology and MPPT method are verified by a comprehensive set of case studies. Experimental results show that the total-cross-tied (TCT) and gradient (GT) topologies can achieve the best performance. However, by considering the complex structure and higher failure rate due to the large number of joints in TCT topology, the PV arrays installed on the roofs, in the free space of green belt, freight yard and near the seaside are suggested to be connected in GT topology to balance operation efficiency, failure rate and maintenance costs. Moreover, the developed CNN-BiLSTM-based MPPT method and PV topology can effectively work together, and the average forecasting error is just 3.482%, which outperforms the compared state-of-the-art methods significantly.

Effects of the U.S. inflation reduction act on SMR economics

The U.S. Inflation Reduction Act (IRA) of 2022 provides a wide array of tax credits and other incentives for low-carbon energy. The technology-neutral clean generation production tax credit (PTC) (Section 45Y of the U.S. Internal Revenue Code) and the technology-neutral investment tax credit (ITC) (Section 48E) lower the net cost of new electricity generation projects with zero or negative greenhouse gas emission rates. We evaluate the impact of the IRA legislation—specifically the PTC and ITC—on the cost-competitiveness of small modular reactors (SMRs). We use the Argonne Low-carbon Energy Analysis Framework (A-LEAF) model to calculate the capacity factor of an SMR with a range of hypothetical variable operating and maintenance (O&M) costs in the Electric Reliability Council of Texas (ERCOT) electricity market. We selected ERCOT for market modeling because of its competitive structure, available data, and extensive use in prior literature. We use a discounted cash flow model to calculate the SMR’s net present value based on the market prices and capacity factors from A-LEAF, hypothetical ranges of capital and variable O&M costs, and other input parameters, with or without the IRA tax credits. We determine the SMR owner’s optimal choice of PTC or ITC for the hypothetical ranges of capital and variable O&M costs. We also evaluate potential shifts in the SMR owner’s optimal choice of PTC or ITC based on historical patterns of nuclear capital cost overruns in the United States. We also assess the sensitivity of our results to longer PTC period and electricity prices from the New England market, which tend to be higher than electricity prices in ERCOT. We find that even with the IRA tax credits, only SMRs with low capital and variable O&M costs would be economically feasible in the low-price ERCOT market scenario modeled. A longer PTC period and higher-price market such as New England, however, would significantly expand the economic feasibility of SMRs in the United States.

Evaluating the cost of robotic-assisted total and unicompartmental knee arthroplasty.

As uptake of robotic-assisted arthroplasty increases there is a need for economic evaluation of the implementation and ongoing costs associated with robotic surgery. The aims of this study were to describe the in-hospital cost of robotic-assisted total knee arthroplasty (RA-TKA) and robotic-assisted unicompartmental knee arthroplasty (RA-UKA) and determine the influence of patient characteristics and surgical outcomes on cost. This prospective cohort study included adult patients (≥ 18years) undergoing primary unilateral RA-TKA and RA-UKA, at a tertiary hospital in Sydney between April 2017 and June 2021. Patient characteristics, surgical outcomes, and in-hospital cost variables were extracted from hospital medical records. Differences between outcomes for RA-TKA and RA-UKA were compared using independent sample t-tests. Logistic regression was performed to determine drivers of cost. Of the 308 robotic-assisted procedures, 247 were RA-TKA and 61 were RA-UKA. Surgical time, time in the operating room, and length of stay were significantly shorter in RA-UKA (p < 0.001); whereas RA-TKA patients were older (p = 0.002) and more likely to be discharged to in-patient rehabilitation (p = 0.009). Total in-hospital cost was significantly higher for RA-TKA cases (AU$18580.02 vs $13275.38; p < 0.001). Robotic system and maintenance cost per case was AU$3867.00 for TKA and AU$5008.77 for UKA. Patients born overseas and lower volume robotic surgeons were significantly associated with higher total cost of RA-UKA. Increasing age and male gender were significantly associated with higher total cost of RA-TKA. Total cost was significantly higher for RA-TKA than RA-UKA. Robotic system costs for RA-UKA are inflated by the software cost relative to the volume of cases compared with RA-TKA. Cost is an important consideration when evaluating long term benefits of robotic-assisted knee arthroplasty in future studies to provide evidence for the economic sustainability of this practice.

Design of OFDM‐based two‐wire bus communication system for fire safety

SummaryIntelligent fire safety systems place higher demands on the speed and reliability of data communication between sensors, controllers, and other devices. The two‐wire bus has become a significant trend in developing fire safety communication systems because of its low cost and simple maintenance. This paper proposes a two‐wire bus communication system for fire safety based on orthogonal frequency division multiplexing (OFDM) technology. First, we introduce the low‐voltage power line channel model and conduct relevant simulations, providing the conditions for subsequent simulation work. Then, we design the system's transmission and reception schemes, provide the parameters, and introduce each technology used. Finally, we conducted system simulations based on three different channel models, and the system performance is compared among different encoding, modulation, and channel estimation methods. The simulation results show that the system designed in this paper has superior performance compared with other systems and can meet the requirements of intelligent fire safety systems for communication speed and reliability.

Bibliometric Analysis of Key Issues and Objectives in Environmental, Economic, and Social Sustainable Project Management

The environmental, economic, and social sustainability of construction project management was researched through a literature review in this study. This paper aimed to analyze the trends in studies about issues in sustainable project management and to research the importance and components of environmental, economic, and social sustainability and their interrelationships. In the scope of the bibliometric analysis, the articles were analyzed by their publication years, authors, authors' countries, authors' organizations, and keyword occurrences. Then, the problems in ensuring the sustainability of construction project management and suggestions for overcoming these problems were reviewed. In previous studies, high energy and raw material consumption and waste became the main factors that prevented environmental sustainability. A strong relationship was found between economic sustainability and life cycle cost assessment, and effective stakeholder engagement is considered the major contributor to the social sustainability of construction management. Sustainability regulations and policies, managerial capabilities, and organizational learning also have critical significance for achieving sustainable construction. The dimensions of sustainability in construction management are closely related to one another, and each one is crucial to achieving the other aspects of sustainability in construction projects. Therefore, a comprehensive strategy that takes into account social, economic, and environmental sustainability criteria should be adopted in construction project management.

Optimal predictive selective maintenance for fleets of mission-oriented systems

ABSTRACT In many settings, fleets of assets must perform series of missions with in-between finite breaks. For such fleets, a widely used maintenance strategy is the fleet selective maintenance (FSM). Under resource constraints, the FSM problem selects an optimal subset of feasible maintenance actions to be performed on a subset of components to minimise the maintenance cost while ensuring high system reliability during the upcoming mission. The majority of extant FSMP models are focussed on traditional physics-based reliability models. With recent advances in Machine Learning (ML) and Deep Learning (DL) algorithms, data-driven methods have shown accuracy in predicting remaining useful life (RUL). This paper proposes a predictive FSM strategy for fleets of complex and large multicomponent systems. It relies on a concurrent ML/DL and optimisation approach where a clustering algorithm is used to determine the health states of components and a probabilistic RUL prognostics model is used for component reliability assessment. An optimisation model is developed to solve the predictive FSM problem to ensure high reliability of all systems within the fleet. An efficient two-phase solution approach is developed to solve this complex optimisation problem. Numerical experiments show the validity of the approach and highlight the improved maintenance plans achieved.

Investment Strategy and Benefit Analysis of Power and Heat Hybrid Energy Storage in Industrial Parks Based on Energy Performance Contracting

To solve the problems of a single mode of energy supply and high energy cost in the park, the investment strategy of power and heat hybrid energy storage in the park based on contract energy management is proposed. Firstly, the concept of energy performance contracting (EPC) and the advantages and disadvantages of its main modes are analyzed, and the basic scheme of EPC for parks is proposed combined with the actual demand. Furthermore, the multiple energy storage model for power and heat storage in parks is established, which includes lithium batteries and heat storage tanks. Based on this, minimizing the annual operation cost of parks is taken as the optimization goal, and the capacity optimization model for power and heat storage is constructed, which considers the investment costs, operation and maintenance costs, purchased energy costs, peak-shaving subsidy, and environmental subsidy. Finally, an industrial park is selected as an example of EPC to verify the effectiveness of our proposed investment strategy. The results show that compared with the situation before the energy-saving renovation, the park can save 35.14 ten thousand CNY in annual cost expenses. When the unit power price of the lithium battery exceeds 3900 CNY/kW, the unit capacity price exceeds 5460 CNY/kWh, the unit power price of the heat storage tank (HST) exceeds 6000 CNY/kW, and the unit capacity price exceeds 1000 CNY/kWh, the configuration of the lithium battery and HST in the park is no longer the optimal choice to perform the energy-saving renovation.