Optimal hydroelectric and geothermal project sequencing and sizing with dynamic programming
| Autor: | Egill Benedikt Hreinsson |
|---|---|
| Rok vydání: | 2016 |
| Předmět: |
Marginal cost
Mathematical optimization Engineering Total cost business.industry 020209 energy 02 engineering and technology Sizing Dynamic programming Permutation Resource (project management) Search algorithm 0202 electrical engineering electronic engineering information engineering business Heuristics |
| Zdroj: | ISGT Europe |
| DOI: | 10.1109/isgteurope.2016.7856332 |
| Popis: | The project sequencing problem with, for instance, hydroelectric or geothermal projects of fixed sizes, has been addressed using techniques such as Dynamic Programming (DP) and heuristics. This involved choosing a permutation sequence of projects, out of N! = N! (N −1),…,2 · 1 possible permutation sequences, to minimize total cost. Here, the problem of sequencing and sizing using a DP search algorithm is addressed with discrete sizing options added, which however expands the search space immensely. The DP method, however, dramatically saves computation time compared to exhaustive enumeration of the search space, and results in an globally optimal sequence and size of projects, given a set of projects with discrete sizing alternatives and other assumptions. The method is tested a data set and, in addition, assumes a given demand function and long range marginal cost (LRMC) of a back-up supply. This supply is assumed to be used after all hydroelectric or renewable energy resources or projects have been exhausted to satisfy the demand. The method has practical applications, for instance in the screening process for selecting and designing resource expansions of discrete projects in the field of renewable energy resources. |
| Databáze: | OpenAIRE |
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