PRE2023 1 Group1: Difference between revisions
(Created page with "{| class="wikitable" |+Group members !Name !Student number !Major |- |Marijn Bikker |1378392 |BAP |- |Jules van Gisteren | |BAP |- | | | |- | | | |- | | | |- | | | |} == Problem statement == The problem that will be addressed in this project is the development of an algorithm that finds the moment the price for electricity is the lowest for electric devices, reducing the amount of money one loses to its yearly electricity bill. With the variable fee of the energy contr...") |
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== Problem statement == | ==Problem statement== | ||
The problem that will be addressed in this project is the development of an algorithm that finds the moment the price for electricity is the lowest for electric devices, reducing the amount of money one loses to its yearly electricity bill. With the variable fee of the energy contract, the timing of the use of your electric device matters for the price one pays for the electricity. At moments when the energy generation exceeds the demand of electricity, the price will be low. An smart algorithm putting on the dish washer or washing machine at the moment the price is the best during the night could be profitable. Today, people can already take advantage of the hourly fluctuating prices by watching the costs of a kilowatt | The problem that will be addressed in this project is the development of an algorithm that finds the moment the price for electricity is the lowest for electric devices, reducing the amount of money one loses to its yearly electricity bill. With the variable fee of the energy contract, the timing of the use of your electric device matters for the price one pays for the electricity. At moments when the energy generation exceeds the demand of electricity, the price will be low. An smart algorithm putting on the dish washer or washing machine at the moment the price is the best during the night could be profitable. Today, people can already take advantage of the hourly fluctuating prices by watching the costs of a kilowatt in an app, and then setting the time of an high electricity demanding device at an inexpensive moment. This is a practice for some people, but not everyone likes put in the effort to do this consistently. For those this algortihm combined with an app that does the work for you can come in handy, in particular if the algoritm can be connected to smart electric devices to operate them, making sure the system operates on its own without the need of human activity. | ||
== Objectives == | ==Objectives== | ||
Revision as of 14:41, 7 September 2023
| Name | Student number | Major |
|---|---|---|
| Marijn Bikker | 1378392 | BAP |
| Jules van Gisteren | BAP | |
Problem statement
The problem that will be addressed in this project is the development of an algorithm that finds the moment the price for electricity is the lowest for electric devices, reducing the amount of money one loses to its yearly electricity bill. With the variable fee of the energy contract, the timing of the use of your electric device matters for the price one pays for the electricity. At moments when the energy generation exceeds the demand of electricity, the price will be low. An smart algorithm putting on the dish washer or washing machine at the moment the price is the best during the night could be profitable. Today, people can already take advantage of the hourly fluctuating prices by watching the costs of a kilowatt in an app, and then setting the time of an high electricity demanding device at an inexpensive moment. This is a practice for some people, but not everyone likes put in the effort to do this consistently. For those this algortihm combined with an app that does the work for you can come in handy, in particular if the algoritm can be connected to smart electric devices to operate them, making sure the system operates on its own without the need of human activity.