Building energy cost optimization system with asset sizing

1. An energy cost optimization system for a building or campus, the system comprising:

equipment operable to satisfy an energy load of the building or campus; and

a controller configured to:

obtain a cost function defining a cost of operating the equipment over a time period as a function of one or more energy load setpoints for the equipment, the cost function comprising a revenue term defining revenue to be obtained by operating the equipment to participate in an incentive program over the time period;

modify the cost function to account for both an initial purchase cost of a new asset to be added to the equipment and an effect of the new asset on the cost of operating the equipment, wherein both the initial purchase cost of the new asset and the effect of the new asset on the cost of operating the equipment are functions of one or more asset size variables;

perform an optimization of the modified cost function to determine values for the energy load setpoints, the asset size variables, and participation in the incentive program over the time period; and

cause the new asset to be acquired and installed, the new asset having an asset size based on the values of the asset size variables resulting from the optimization of the modified cost function.

2. The energy cost optimization system of claim 1 , wherein the revenue term comprises one or more of a demand response term or a frequency regulation term.

3. The energy cost optimization system of claim 1 , wherein the cost function comprises an equipment degradation term defining a cost of degradation of the equipment.

4. The energy cost optimization system of claim 1 , wherein the cost function comprises a maintenance cost term defining a cost of maintaining the equipment.

5. The energy cost optimization system of claim 1 , wherein the cost function comprises a peak load contribution term defining a cost of purchasing an energy resource from a utility provider during peak load subperiods.

6. The energy cost optimization system of claim 5 , wherein the controller is configured to modify the peak load contribution term by applying a peak subperiods vector to the peak load contribution term, the peak subperiods vector comprising a prediction of which peak subperiods in the time period will be peak hours.

7. The energy cost optimization system of claim 1 , wherein the controller is configured to perform the optimization of the modified cost function to determine values for the energy load setpoints, the asset size variables, and participation in the incentive program following a stochastic optimization process.

8. The energy cost optimization system of claim 7 , wherein the stochastic optimization process comprises:

obtaining representative loads and rates for the building or campus for each of a plurality of scenarios;

performing a first optimization to determine an asset size target, wherein the asset size target minimizes a risk attribute of the cost function over the plurality of the scenarios; and

performing a second optimization subject to a constraint defined by the asset size target to determine values for the energy load setpoints, the asset size variables, and participation in the incentive program over the time period.

9. A method, comprising:

obtaining a cost function defining a cost of operating building equipment over a time period as a function of one or more energy load setpoints for the equipment, the cost function comprising a revenue term defining revenue to be obtained by operating the equipment to participate in an incentive program over the time period;

modifying the cost function to account for both an initial purchase cost of a new asset to be added to the equipment and an effect of the new asset on the cost of operating the equipment, wherein both the initial purchase cost of the new asset and the effect of the new asset on the cost of operating the equipment are functions of one or more asset size variables;

performing an optimization of the modified cost function to determine values for the energy load setpoints, the asset size variables, and participation in the incentive program over the time period; and

acquiring and installing the new asset having an asset size based on the values of the asset size variables resulting from the optimization of the modified cost function.

10. The method of claim 9 , wherein the revenue term comprises one or more of a demand response term or a frequency regulation term.

11. The method of claim 9 , wherein the cost function comprises an equipment degradation term defining a cost of degradation of the equipment.

12. The method of claim 9 , wherein the cost function comprises a maintenance cost term defining a cost of maintaining the equipment.

13. The method of claim 9 , wherein the cost function comprises a peak load contribution term defining a cost of purchasing an energy resource from a utility provider during peak load subperiods.

14. The method of claim 9 , wherein performing the optimization of the modified cost function comprises performing a stochastic optimization process.

15. The method of claim 14 , wherein performing the stochastic optimization process comprises:

obtaining loads and rates for a building or campus for each of a plurality of scenarios;

performing a first optimization to determine an asset size target, wherein the asset size target minimizes a risk attribute of the cost function over the plurality of the scenarios; and

performing a second optimization subject to a constraint defined by the asset size target to determine values for the energy load setpoints, the asset size variables, and participation in the incentive program over the time period.

16. The method of claim 14 , wherein performing the stochastic optimization process comprises determining values of the asset size variables that minimize the cost function over a plurality of scenarios.

17. The method of claim 9 , comprising automatically scheduling an installation period for the new asset and controlling the building equipment to facilitate installation of the new asset during the installation period.

18. One or more non-transitory computer-readable media containing program instructions that, when executed by one or more processors, cause the one or more processors to perform operations comprising:

obtaining a cost function defining a cost operating building equipment over a time period as a function of one or more energy load setpoints for the equipment, the cost function comprising a revenue term defining revenue to be obtained by operating the equipment to participate in an incentive program over the time period;

modifying the cost function to account for both an initial purchase cost of a new asset to be added to the equipment and an effect of the new asset on the cost of operating the equipment, wherein both the initial purchase cost of the new asset and the effect of the new asset on the cost of operating the equipment are functions of one or more asset size variables;

performing an optimization of the modified cost function to determine values for the energy load setpoints, the asset size variables, and participation in the incentive program over the time period; and

causing acquisition and installation of the new asset having an asset size based on the values of the asset size variables resulting from the optimization of the modified cost function.

19. The non-transitory computer-readable media of claim 1 , wherein the revenue term comprises one or more of a demand response term or a frequency regulation term.

20. The non-transitory computer-readable media of claim 18 , wherein the cost function comprises one or more of an equipment degradation term defining a cost of degradation of the equipment or a maintenance cost term defining a cost of maintaining the equipment.