Long Term Power Generation Planning Under Uncertainty

dc.contributor.advisor Sarah M. Ryan
dc.contributor.author Jin, Shan
dc.contributor.department Industrial and Manufacturing Systems Engineering
dc.date 2018-08-11T11:17:21.000
dc.date.accessioned 2020-06-30T02:31:07Z
dc.date.available 2020-06-30T02:31:07Z
dc.date.copyright Thu Jan 01 00:00:00 UTC 2009
dc.date.embargo 2013-06-05
dc.date.issued 2009-01-01
dc.description.abstract <p>Generation expansion planning concerns investment and operation decisions for different types of power plants over a multi-decade horizon under various uncertainties. The goal of this research is to improve decision-making under various long term uncertainties and assure a robust generation expansion plan with low cost and risk over all possible future scenarios. In a multi-year numerical case study, we present a procedure to deal with the long term uncertainties by first modeling them as a multidimensional stochastic process and then generating a scenario tree accordingly. Two-stage stochastic programming is applied to minimize the total expected cost, and robust optimization is further applied to reduce the cost variance. Results of experiments on a realistic case study are compared. An efficient frontier of the planning solutions that illustrates the tradeoff between the cost and risk is further shown and analyzed.</p>
dc.format.mimetype application/pdf
dc.identifier archive/lib.dr.iastate.edu/etd/10803/
dc.identifier.articleid 1878
dc.identifier.contextkey 2807076
dc.identifier.doi https://doi.org/10.31274/etd-180810-3102
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath etd/10803
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/25009
dc.language.iso en
dc.source.bitstream archive/lib.dr.iastate.edu/etd/10803/Jin_iastate_0097M_10651.pdf|||Fri Jan 14 18:28:43 UTC 2022
dc.subject.disciplines Industrial Engineering
dc.subject.keywords power generation expansion planning
dc.subject.keywords production tax credit
dc.subject.keywords robust optimization
dc.subject.keywords scenario tree
dc.subject.keywords stochastic programming
dc.subject.keywords uncertainty
dc.title Long Term Power Generation Planning Under Uncertainty
dc.type article
dc.type.genre thesis
dspace.entity.type Publication
relation.isOrgUnitOfPublication 51d8b1a0-5b93-4ee8-990a-a0e04d3501b1
thesis.degree.level thesis
thesis.degree.name Master of Science
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