Model-based energy management systems: Weighting of multiobjective functions using the Volatile Energy Prices Scalarization (VEPS)

Abstract

Predictive energy management systems (EMSs) enable industrial plants to operate the energy supply systems at optimal efficiency, taking account of multiple objectives, including energy cost reduction. The performance of model-based EMSs depends on the appropriate design and correct scalarization of the resulting multiobjective function. This paper introduces the Volatile Energy Prices Scalarization (VEPS) method, which effectively designs, standardizes, and weighs the multiobjective function of model-based EMSs without the need for prior simulations or test runs. We present a case study, in which we compare the VEPS method to other state-of-the-art methods, utilizing a validated simulation model from an industrial food plant. The results show that the VEPS method outperforms other weighting methods with comparable tuning effort in this case-study. Moreover, the performance of the VEPS method is close to the Pareto-optimal performance. Economic weighting methods such as VEPS enable a fast and cost-effective implementation of EMS in the manufacturing industry.