This thesis presents an integrated model and methodology to quantify and demonstrate the thermal exibility potential of a residential building featuring an air-based building integrated photovoltaic thermal (BIPV/T) system coupled to an air-source heat pump and a water-based sensible thermal energy storage. A BIPV/T system is used to preheat outdoor air drawn under the PV with a fan, in addition to producing solar electricity. The pre-heated air leaving the BIPV/T cavity in the heating season is sent to the evaporator coil of the air-source heat pump so as to increase its coe�cient of performance. The condenser side of the heat pump is connected to a water thermal energy storage from which water is fed to a hydronic air-system used for space heating. An integration with a thermal energy storage as a means of decoupling the loads from the source is proposed with the objective of shifting thermal loads and electrical peak demand so that they are outside the peak demand periods for the grid. A model was developed and a case study of a residential net-zero energy solar building was simulated in TRNSYS. Rule-based control strategies and a deterministic electrical grid state schedule were used to optimize the pro�le of the electric demand of the building. The exibility potential of di�erent design alternatives and control strategies were quanti�ed using load matching grid interaction indicators, energy metrics, and di�erent pricing schemes. The gross energy consumption of the building was reduced by more than 40% during peak grid events, the overall coe�cient of performance of the air-source heat pump was improved by 22%, and the cost of electricity was decreased by 46% with the implementation of a variable tari� price structure and a net-metering agreement.