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Peak demand, peak load or on-peak are terms used in energy demand management describing a period in which electrical power is expected to be provided for a sustained period at a significantly higher than average supply level. Peak demand fluctuations may occur on daily, monthly, seasonal and yearly cycles.
Peak demand management does not necessarily decrease total energy consumption, but could be expected to reduce the need for investments in networks and/or power plants for meeting peak demands. An example is the use of energy storage units to store energy during off-peak hours and discharge them during peak hours.
A load-following power plant, regarded as producing mid-merit or mid-priced electricity, is a power plant that adjusts its power output as demand for electricity fluctuates throughout the day. [1] Load-following plants are typically in between base load and peaking power plants in efficiency, speed of start-up and shut-down, construction cost ...
Peaking power plants, also known as peaker plants, and occasionally just "peakers", are power plants that generally run only when there is a high demand, known as peak demand, for electricity. [1] Because they supply power only occasionally, the power supplied commands a much higher price per kilowatt hour than base load power.
On a cost basis, wind and solar is the best economic choice in markets where firm generation resources exist and demand is growing." [85]: 24 They further reported "the levelized cost of energy from lithium-ion battery storage systems is competitive with many peak-demand generators."
Load balancing, load matching, or daily peak demand reserve refers to the use of various techniques by electrical power stations to store excess electrical power during low demand periods for release as demand rises. [1] The aim is for the power supply system to have a load factor of 1.
The duck curve is a graph of power production over the course of a day that shows the timing imbalance between peak demand and solar power generation. The graph resembles a sitting duck, and thus the term was created. [2] Used in utility-scale electricity generation, the term was coined in 2012 by the California Independent System Operator.
Demand response programs such as those enabled by smart grids attempt to incentivize the consumer to limit usage based upon cost concerns. As costs rise during the day (as the system reaches peak capacity and more expensive peaking power plants are used), a free market economy should allow the price to rise. A corresponding drop in demand for ...