Electricity cost minimization in cooling systems with storage

Load optimization with load shifting can be readily implemented with energy storage. In hot climates, cooling systems are a major factor in the electrical bill. Some systems have large reservoirs for cold water which can be used for pre-cooling and load shifting. A similiar setup is possible when optimizing cost of electrical heating with heat storage. This abstract examines and formally defines the problem as an MDP, and proposes a solution algorithm, for the problem of electricity cost minimization in the presence of storage, in the form of a large water tank.