Download or read book Optimization and Risk Scenario Analysis of Procurements and Planning of Energy Systems Using Z Utility Theory written by Shaya Sheikh and published by . This book was released on 2013 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation, we present an energy supply chain model called, energy planning problem, as a basic problem for analyzing distributed energy systems. We use multi-objective optimization and risk theory to optimize and analyze this problem under different circumstances. In the first chapter, we present energy planning problem with single or multiple decisions makers in energy system. These decision makers are able to buy or sell energy in the system according to their respective risk attitudes. We consider energy price of each generator as a decision problem under risk where each decision maker chooses its energy price as a function of its generated energy. Three different functions for risk attitude are considered for each decision maker; step function, piece-wise linear function, and polynomial function. A robust, simple, and verifiable approach for understanding and measuring risk of energy storages in distributed energy systems is introduced. We also show that the relationship between risk attitude and energy price simulates the behavior of real energy retailers or energy distribution companies. The resulting efficient optimization models provide the optimal risk strategy together with optimal amount of stored energy for each storage. In the second chapter, we use multi-objective optimization to formulate this problem using three criteria of cost, environmental impact and failure rate while satisfying operational and design constraints. We analyze the relationship between total cost, environmental impact, and failure rate using additive and goal seeking utility functions. We show that energy planning problem increases the flexibility of energy system in terms of changes in demand and energy price. Computational results and complexity analysis show that problems with extensive number of entities can be solved efficiently in reasonable time.
Download or read book Big Data Analytics Using Multiple Criteria Decision Making Models written by Ramakrishnan Ramanathan and published by CRC Press. This book was released on 2017-07-12 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multiple Criteria Decision Making (MCDM) is a subfield of Operations Research, dealing with decision making problems. A decision-making problem is characterized by the need to choose one or a few among a number of alternatives. The field of MCDM assumes special importance in this era of Big Data and Business Analytics. In this volume, the focus will be on modelling-based tools for Business Analytics (BA), with exclusive focus on the sub-field of MCDM within the domain of operations research. The book will include an Introduction to Big Data and Business Analytics, and challenges and opportunities for developing MCDM models in the era of Big Data.
Download or read book Electric Utility Resource Planning written by Joe Ferrari and published by Elsevier. This book was released on 2020-09-09 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electric Utility Resource Planning: Past, Present and Future covers the balance of renewable costs, energy storage, and flexible backstop mechanisms needed in electric utility resource planning. In addition, it covers the optimization of planning methodologies and market design. The book argues that net load, ramping and volatility concerns associated with renewables call into question the validity of almost a century of planning approaches. Finally, it suggests that accounting for flexibility helps optimize the efficiency of the entire fleet of assets, minimizing costs and CO2 generation simultaneously, concluding that a flexible, independent backstop mechanism is needed, regardless of renewables or storage. Case studies provide a mix of hypothetical "what if" scenarios and analyses of real-life utility portfolios drawn from international examples. Examines how resource planners and policy specialists can plan to incorporate renewable generation technologies, thus uniting considerations of technology, methodology, business and policy Focuses on the reality of long-term decision-making and planning processes in working utilities Reviews novel approaches towards resource planning that yield lower costs and CO2 Emphasizes the need for flexible backstop mechanisms to maintain reliability
Download or read book Energy Systems Evaluation Volume 2 written by Jingzheng Ren and published by Springer Nature. This book was released on 2021-05-24 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents various multi-criteria analysis methods for sustainability-oriented analysis and decision-making for energy systems, under various different conditions and scenarios. It presents methodologies to answer the questions relating to which of the options are the most sustainable among the alternatives, and how multi-criteria decision analysis methods can be used to select the most sustainable energy systems. A systematic innovative methodological framework is presented, which enables the most appropriate energy system to be selected under different conditions including: Scientific decision support tools for sustainable energy system selection; Fuzzy, grey, and rough sets based multi-criteria decision analysis; Decision-making models under uncertainties; and The combination of life cycle thinking and multi-criteria decision analysis This book is of interest to researchers, engineers, decision makers, and postgraduate students within the field of energy systems, sustainability, and multi-criteria decision analysis.
Download or read book Robust Energy Procurement of Large Electricity Consumers written by Sayyad Nojavan and published by Springer. This book was released on 2018-12-11 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book identifies the challenges faced by large electricity consumers when they use several sources to procure their energy. The huge penetration of distributed energy resources and the intermittent nature of renewables can put the operations of the large electricity consumer at risk. The book discusses the different types of energy sources including the pool market, bilateral contracts, electrical vehicles, energy storage systems, and demand response programs in detail and presents solutions for robust and risk based scheduling. The author provides models for determining and considering uncertainties and optimal bidding strategies. The book is useful to engineers and students involved in the integration of various energy types as well as those working in state and federal governmental organizations who regulate different aspects of electricity market operation and planning. Presents solutions for robust and risk based scheduling; Discusses the operation and planning of energy storage systems; Presents the most-up-to-date technological approaches to energy integration.
Download or read book Robust Optimization in Electric Energy Systems written by Xu Andy Sun and published by Springer Nature. This book was released on 2021-11-08 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers robust optimization theory and applications in the electricity sector. The advantage of robust optimization with respect to other methodologies for decision making under uncertainty are first discussed. Then, the robust optimization theory is covered in a friendly and tutorial manner. Finally, a number of insightful short- and long-term applications pertaining to the electricity sector are considered. Specifically, the book includes: robust set characterization, robust optimization, adaptive robust optimization, hybrid robust-stochastic optimization, applications to short- and medium-term operations problems in the electricity sector, and applications to long-term investment problems in the electricity sector. Each chapter contains end-of-chapter problems, making it suitable for use as a text. The purpose of the book is to provide a self-contained overview of robust optimization techniques for decision making under uncertainty in the electricity sector. The targeted audience includes industrial and power engineering students and practitioners in energy fields. The young field of robust optimization is reaching maturity in many respects. It is also useful for practitioners, as it provides a number of electricity industry applications described up to working algorithms (in JuliaOpt).
Download or read book Energy Policy Planning written by B. A. Bayraktar and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 463 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Advanced Research Institute (ARI) on "The Application of Systems Science to Energy Policy Planning" was held under the auspices of the NATO Special Programme Panel on Systems Science in collaboration with the National Center for Analysis of Energy Sys tems, Brookhaven National Laboratory, USA, as a part of the NATO Science Committee's continuous effort to promote the advancement of science through international cooperation. Advanced Research Institutes are sponsored by the NATO Science Committee for the purposes of bringing together senior scientists to seek consensus on an assessment of the present state of knowl edge on a specific topic and to make recommendations for future research directions. Meetings are structured to encourage inten sive group discussion. Invitees are carefully selected so that the group as a whole will contain the experience and expertise neces sary to make the conclusions valid and significant. A final report is published presenting the various viewpoints and conclusions. The NATO Systems Science Panel noted that the systems approach is increasingly being applied to energy policy analysis and plan ning in both public and private sectors of national economies. Consequently, it seemed appropriate at this time to bring together experts to review and evaluate recent experience, in order to iden tify strengths and weaknesses in current prac tice, and to make recommendations for research directions.
Download or read book Optimal Operation of Integrated Energy Systems Under Uncertainties written by Bo Yang and published by Elsevier. This book was released on 2023-09-20 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Optimal Operation of Integrated Energy Systems Under Uncertainties: Distributionally Robust and Stochastic Models discusses new solutions to the rapidly emerging concerns surrounding energy usage and environmental deterioration. Integrated energy systems (IESs) are acknowledged to be a promising approach to increasing the efficiency of energy utilization by exploiting complementary (alternative) energy sources and storages. IESs show favorable performance for improving the penetration of renewable energy sources (RESs) and accelerating low-carbon transition. However, as more renewables penetrate the energy system, their highly uncertain characteristics challenge the system, with significant impacts on safety and economic issues. To this end, this book provides systematic methods to address the aggravating uncertainties in IESs from two aspects: distributionally robust optimization and online operation. Presents energy scheduling, considering power, gas, and carbon markets concurrently based on distributionally robust optimization methods Helps readers design day-ahead scheduling schemes, considering both decision-dependent uncertainties and decision-independent uncertainties for IES Covers online scheduling and energy auctions by stochastic optimization methods Includes analytic results given to measure the performance gap between real performance and ideal performance
Download or read book Incorporating Risk and Uncertainty in Power System Planning written by Enrique Crousillat and published by . This book was released on 1989 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Planning and Operation of Multi Carrier Energy Networks written by Morteza Nazari-Heris and published by Springer Nature. This book was released on 2021-04-05 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses the optimal design and operation of multi-carrier energy systems, providing a comprehensive review of existing systems as well as proposing new models. Chapters cover the theoretical background and application examples of interconnecting energy technologies such as combined heat and power plants, natural gas-fired power plants, power to gas technology, hydropower plants, and water desalination systems, taking into account the operational and technical constraints of each interconnecting element and the network constraint of each energy system. This book will be a valuable reference for power network and mechanical system professionals and engineers, electrical power engineering researchers and developers, and professionals from affiliated power system planning communities. Provides insight on the design and operation of multi-carrier energy systems; Covers both theoretical aspects and technical applications; Includes case studies to help apply concepts to real engineering situations.
Download or read book Managing Energy Risk written by Markus Burger and published by John Wiley & Sons. This book was released on 2008-04-30 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mathematical techniques for trading and risk management. Managing Energy Risk closes the gap between modern techniques from financial mathematics and the practical implementation for trading and risk management. It takes a multi-commodity approach that covers the mutual influences of the markets for fuels, emission certificates, and power. It includes many practical examples and covers methods from financial mathematics as well as economics and energy-related models.
Download or read book Handbook of Risk Management in Energy Production and Trading written by Raimund M. Kovacevic and published by Springer Science & Business Media. This book was released on 2013-11-27 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents an overview of the risks involved in modern electricity production, delivery and trading, including technical risk in production, transportation and delivery, operational risk for the system operators, market risks for traders, and political and other long term risks in strategic management. Using decision making under uncertainty as a methodological background, the book is divided into four parts, with Part I focusing on energy markets, particularly electricity markets. Topics include a nontechnical overview of energy markets and their main properties, basic price models for energy commodity prices, and modeling approaches for electricity price processes. Part II looks at optimal decisions in managing energy systems, including hydropower dispatch models, cutting plane algorithms and approximative dynamic programming; hydro-thermal production; renewable; stochastic investments and operational optimization models for natural gas transport; decision making in operating electricity networks; and investment in extending energy production systems. Part III explores pricing, including electricity swing options and the pricing of derivatives with volume control. Part IV looks at long-term and political risks, including energy systems under aspects of climate change, and catastrophic operational risks, particularly risks from terrorist attacks.
Download or read book Energy Power Risk written by George Levy and published by Emerald Group Publishing. This book was released on 2018-12-10 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book describes both mathematical and computational tools for energy and power risk management, deriving from first principles stochastic models for simulating commodity risk and how to design robust C++ to implement these models.
Download or read book Optimal Planning and Operation of Distributed Energy Resources written by S. N. Singh and published by Springer Nature. This book was released on 2023-08-07 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book deals with integrated distributed energy resources in existing power systems optimally to mitigate power quality issues in power systems. The book is designed for research using modern optimization techniques and a thorough analysis of renewable energy. The book provides an in-depth study of recent trends of research scope around the globe and also includes modern heuristic approaches, hands-on data, and case studies of all important dimensions of distributed energy resources. It addresses key issues such as the integration of DERs and electric vehicles, optimization algorithms, management of DERs with electric vehicles, energy pool management mechanisms, protection, and reliability in the restructured power system. This book will be useful for students, research scholars, practitioners, and academicians.
Download or read book Comparative Risk Analysis of Different Energy Sources Using Utility Theory written by Shahid Ahmed and published by . This book was released on 1978 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Optimization of Energy Supply Systems written by Janet Nagel and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes how a model for optimizing the energy supply system in Germany can be implemented. It focuses on the open energy modeling framework (Oemof) program for modeling energy supply systems. The individual elements of Oemof are described, as well as the model's structure. The technical components of Oemof are subsequently demonstrated in mathematical calculations, along with sufficient Python code to begin basic modeling. The book will appeal to anyone with an interest in optimization models for energy supply systems, or in the mathematical description of the technical components of such systems in practical implementation, using a real example, Oemof. Thermodynamic descriptions of combustion are provided, so that readers can focus on modeling aspects. Researchers and practitioners will also find the book useful, as it expands on their knowledge of the technical components of energy supply systems, supported with detailed mathematical calculations.
Download or read book Large scale Integrated Energy Systems written by Q. H. Wu and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book discusses key issues in the planning and operation of large-scale integrated energy systems (LSIES). It establishes individual-based models for LSIES and develops multi-objective optimization algorithms and multi-attribute decision making support systems, which are applied to the planning and optimal operation of LSIES. It is a valuable reference work for researchers, students and engineers who are interested in energy systems, operation research and decision theory.
