Methods and systems for modulating energy usage

A computer-implemented method of modulating energy consumption by a water provision system installed in a building, the water provision system comprising one or more electrical heating elements operable to heat water, a heat pump configured to transfer thermal energy from outside the building to a thermal energy storage medium within a thermal energy storage inside the building, a heat exchanger arranged proximal to the thermal energy storage configured to heat water for provision by the water provision system using thermal energy stored in the thermal energy storage medium, and a control module executing instructions stored on a non-transitory computer readable medium which causes the control module to control operation of the water provision system, the water provision system being configured to provide water heated by the one or more electrical heating elements and/or the thermal energy storage medium to one or more water outlets, the method being performed by the control module and comprising:

• determining a level of energy demands of a geographical region comprising the building;
• and
• upon determining that the level of energy demands is high, controlling the water provision system to switch from using the one or more electrical heating elements to the thermal energy storage medium to heat water for provision of heated water.