Energy Management Strategies for Induction Furnaces: A Cost-Effective and Sustainable Approach to Steel Mills

The steel industry ranks among the most energy-demanding sectors. The induction melting processes play a crucial role in determining operational expenses and environmental effects. Steel manufacturing facilities can leverage time-based electricity pricing by strategically scheduling high-energy activities. This research aims to enhance energy efficiency in steel mills by introducing economically viable scheduling models for induction furnaces. An analysis was conducted on a 40-ton, 6 MW induction furnace that operates over 18 melting cycles, each for 80 minutes. The study methods include power regulation through step signal switching, pre-heating scrap metal with molten steel from prior cycles, and incorporating a Battery Energy Storage System (BESS) to optimize electricity expenditures by charging during off-peak periods and discharging during peak demand times. The data utilized in this research were gathered via simulations conducted in MATLAB, which integrated actual tariff rates alongside incentive-driven electricity pricing models. The results show that these strategies can greatly lower total energy consumption and operational costs with the suggested system saving up to 38% on melting costs compared to standard practices. The findings show that steel mills can improve their economic and environmental efficiency by implementing optimized scheduling and energy management systems.