DocumentCode
3274797
Title
Replacing an old household furnace with a new one: An evaluation
Author
Patel, N. ; Wahab, M.I.M.
Author_Institution
Dept. of Mech. & Ind. Eng., Ryerson Univ., Toronto, ON, Canada
fYear
2010
fDate
28-30 June 2010
Firstpage
1
Lastpage
5
Abstract
A Hull-White one factor model based analysis has been presented to evaluate the savings of replacing an old residential furnace with a new high efficiency residential furnace. Savings is calculated by a dynamic programming approach based on a trinomial tree representing the spot prices of natural gas, the most widely used fuel for residential furnaces. The analysis may help both policy makers in government agencies and homeowners in saving energy costs and reducing carbon emissions.
Keywords
domestic appliances; dynamic programming; furnaces; heat systems; trees (mathematics); Hull-White one factor model based analysis; carbon emission reduction; dynamic programming; energy cost saving; government agencies; homeowners; household furnace; residential furnace; trinomial tree; Costs; Dynamic programming; Energy consumption; Energy measurement; Fuels; Furnaces; Government; Natural gas; Space heating; Stochastic processes; Hull-White model; dynamic programming; mean-reverting process;
fLanguage
English
Publisher
ieee
Conference_Titel
Service Systems and Service Management (ICSSSM), 2010 7th International Conference on
Conference_Location
Tokyo
Print_ISBN
978-1-4244-6485-2
Type
conf
DOI
10.1109/ICSSSM.2010.5530269
Filename
5530269
Link To Document