Multi-period multi-objective electricity generation expansion planning problem with Monte-Carlo simulation

Hatice Tekiner, David W. Coit, Frank Felder

Research output: Contribution to journalArticle

99 Citations (Scopus)

Abstract

A new approach to the electricity generation expansion problem is proposed to minimize simultaneously multiple objectives, such as cost and air emissions, including CO2 and NOx, over a long term planning horizon. In this problem, system expansion decisions are made to select the type of power generation, such as coal, nuclear, wind, etc., where the new generation asset should be located, and at which time period expansion should take place. We are able to find a Pareto front for the multi-objective generation expansion planning problem that explicitly considers availability of the system components over the planning horizon and operational dispatching decisions. Monte-Carlo simulation is used to generate numerous scenarios based on the component availabilities and anticipated demand for energy. The problem is then formulated as a mixed integer linear program, and optimal solutions are found based on the simulated scenarios with a combined objective function considering the multiple problem objectives. The different objectives are combined using dimensionless weights and a Pareto front can be determined by varying these weights. The mathematical model is demonstrated on an example problem with interesting results indicating how expansion decisions vary depending on whether minimizing cost or minimizing greenhouse gas emissions or pollutants is given higher priority.

Original languageEnglish
Pages (from-to)1394-1405
Number of pages12
JournalElectric Power Systems Research
Volume80
Issue number12
DOIs
Publication statusPublished - Dec 2010

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Electricity
Planning
Availability
Gas emissions
Greenhouse gases
Power generation
Costs
Coal
Monte Carlo simulation
Mathematical models
Air

Keywords

  • Generation expansion
  • Generation planning
  • Monte-Carlo simulation
  • Multi-objective optimization

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

Cite this

Multi-period multi-objective electricity generation expansion planning problem with Monte-Carlo simulation. / Tekiner, Hatice; Coit, David W.; Felder, Frank.

In: Electric Power Systems Research, Vol. 80, No. 12, 12.2010, p. 1394-1405.

Research output: Contribution to journalArticle

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