A controller for a central plant having a plurality of subplants that serve thermal energy loads of a building or building system, the controller comprising: a processing circuit comprising a processor and memory, wherein the processing circuit comprises: a high level optimization module configured to generate a thermal energy load setpoint for a subplant of the central plant, by performing a high level optimization that determines optimum thermal energy load setpoints for each of the plurality of subplants by optimally distributing a predicted thermal energy load for the building across the plurality of subplants; a low level optimization module comprising a binary optimization module configured to use binary optimization to determine one or more feasible on/off configurations for equipment of the subplant to achieve the thermal energy load setpoint generated by the high level optimization; the low level optimization module comprising a setpoint evaluator module configured to determine optimum operating setpoints for the subplant equipment for each feasible on/off configuration; wherein the low level optimization module is configured to generate a resource consumption curve for the subplant by optimizing an amount of resource consumption by the subplant for several different combinations of thermal energy load and weather conditions, the resource consumption curve indicating a minimum amount of resource consumption by the subplant as a function of a thermal energy load on the subplant and wherein the high level optimization module is configured to receive the resource consumption curve for the subplant from the low level optimization module; and a subplant control module configured to generate operating parameters for the subplant equipment, the operating parameters comprising at least one of the feasible on/off configurations and the optimum operating setpoints; and a communications interface coupled to the processing circuit and configured to output the generated operating parameters for use in controlling the subplant equipment. a processing circuit comprising a processor and memory, wherein the processing circuit comprises: a high level optimization module configured to generate a thermal energy load setpoint for a subplant of the central plant, by performing a high level optimization that determines optimum thermal energy load setpoints for each of the plurality of subplants by optimally distributing a predicted thermal energy load for the building across the plurality of subplants; a low level optimization module comprising a binary optimization module configured to use binary optimization to determine one or more feasible on/off configurations for equipment of the subplant to achieve the thermal energy load setpoint generated by the high level optimization; the low level optimization module comprising a setpoint evaluator module configured to determine optimum operating setpoints for the subplant equipment for each feasible on/off configuration; wherein the low level optimization module is configured to generate a resource consumption curve for the subplant by optimizing an amount of resource consumption by the subplant for several different combinations of thermal energy load and weather conditions, the resource consumption curve indicating a minimum amount of resource consumption by the subplant as a function of a thermal energy load on the subplant and wherein the high level optimization module is configured to receive the resource consumption curve for the subplant from the low level optimization module; and a subplant control module configured to generate operating parameters for the subplant equipment, the operating parameters comprising at least one of the feasible on/off configurations and the optimum operating setpoints; and a high level optimization module configured to generate a thermal energy load setpoint for a subplant of the central plant, by performing a high level optimization that determines optimum thermal energy load setpoints for each of the plurality of subplants by optimally distributing a predicted thermal energy load for the building across the plurality of subplants; a low level optimization module comprising a binary optimization module configured to use binary optimization to determine one or more feasible on/off configurations for equipment of the subplant to achieve the thermal energy load setpoint generated by the high level optimization; the low level optimization module comprising a setpoint evaluator module configured to determine optimum operating setpoints for the subplant equipment for each feasible on/off configuration; wherein the low level optimization module is configured to generate a resource consumption curve for the subplant by optimizing an amount of resource consumption by the subplant for several different combinations of thermal energy load and weather conditions, the resource consumption curve indicating a minimum amount of resource consumption by the subplant as a function of a thermal energy load on the subplant and wherein the high level optimization module is configured to receive the resource consumption curve for the subplant from the low level optimization module; and a subplant control module configured to generate operating parameters for the subplant equipment, the operating parameters comprising at least one of the feasible on/off configurations and the optimum operating setpoints; and a communications interface coupled to the processing circuit and configured to output the generated operating parameters for use in controlling the subplant equipment.