System for optimizing thermal energy generation from multiple energy sources

A system for generating thermal energy from a plurality of different energy sources, the system comprising:

• a combustion-powered thermal energy source having at least one combustion heater, each combustion heater having a combustion-based thermal output capacity;
• an electric-powered thermal energy source having at least one electric heater, each electric heater having an electric-based thermal output capacity;
• and
• a controller configured to calculate a cost of thermal energy and dispatch either or both of the combustion-powered thermal energy source and the electric-powered thermal energy source, the cost of thermal energy is calculated based upon (a) at least one of:
• a forecast of future energy prices, an electricity demand model;
• a carbon cost model;
• and a marginal cost of utilizing the combustion-powered thermal energy source or the electric-powered thermal energy source and (b) a system storage capacity,
• wherein the system storage capacity is determined based on a storage capacity of a thermal energy store and information measured by an output fluid temperature sensor, an output fluid pressure sensor, and a building envelope temperature sensor.