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This paper presents a study to optimize the heating energy costs in a residential building with varying electricity price signals based on an Economic Model Predictive Controller (EMPC). The investigated heating system consists of an air source heat pump (ASHP) incorporated with a hot water tank as active Thermal Energy Storage (TES), where two optimization problems are integrated together to optimize both the ASHP electricity consumption and the building heating consumption utilizing a heat dynamic model of the building. The results show that the proposed EMPC can save the energy cost by load shifting compared with some reference cases.

Economic Model Predictive Control for Hot Water Based Heating Systems in Smart Buildings