Related papers: Multi-year Investment Modelling in Energy Systems
This paper reviews discounting approaches for modeling multi-year energy investments, focusing on total versus annualised cost formulations. We discuss how time value of money is handled, and how salvage value and milestone-year weighting…
This paper reviews two established formulations for modelling multi-year energy investments: the simple method, which aggregates all capacity regardless of commissioning year, and the vintage method, which explicitly tracks investments by…
In this paper, we investigate the energy system design problems with the multi-generation technologies, i.e., simultaneous generation of multiple types of energy. We propose a long-term planning model which integrates macro-level strategic…
We offer an insight into our mathematical endeavors, which aim to advance the foundational understanding of energy systems in a broad context, encompassing facets such as charge transport, energy storage, markets, and collective behavior.…
The rapid emergence of hydrogen in long-term energy strategies requires a broad understanding on how hydrogen is currently modelled in national energy system models. This study provides a review on hydrogen representation within selected…
This paper surveys the primary computational hurdles of Energy Systems optimization coming from different sources: model-induced complexity, optimization algorithm requirements, and uncertainties handling (both aleatoric and epistemic).…
Pathways that describe the optimal evolution of energy systems across multiple decades are important in energy system research and policy literature, with net-zero and similar climate policies being common drivers behind them. While there…
The need to decarbonize the energy system has intensified the focus on district heating networks in urban and suburban areas. Therefore, exploring transformation pathways with reasonable trade-offs between economic viability and…
Investments into renewable energy are increasing rapidly around the world. Energy system models are able to provide insights into optimal investment capacities and thus are widely used to aid the long-term investment decision-making under…
Energy system models underpin decisions by energy system planners and operators. Energy system modelling faces a transformation: accounting for changing meteorological conditions imposed by climate change. To enable that transformation, a…
This paper introduces a generalised version of importance subsampling for time series reduction/aggregation in optimisation-based power system planning models. Recent studies indicate that reliably determining optimal electricity…
The determination of environmentally- and economically-optimal energy system designs and operations is complex. In particular, the integration of weather-dependent renewable energy technologies into energy system optimization models…
Load forecasts have become an integral part of energy security. Due to the various influencing factors that can be considered in such a forecast, there is also a wide range of models that attempt to integrate these parameters into a system…
Modelling renewable energy systems is a computationally-demanding task due to the high fluctuation of supply and demand time series. To reduce the scale of these, this paper discusses different methods for their aggregation into typical…
In [1], a single-period co-optimization model of energy and reserve is considered to better illustrate the properties of the co-optimization model and the associated market mechanism. To make the discussion more general, in this paper, the…
In this paper we build a method to optimize Multi-Year Prospective Budgets. First we present a systemic model of Local Community Finances. Then, from two acceptable Multi-Year Prospective Budgets the method implements a Genetic Algorithm to…
With economic development, the complexity of infrastructure has increased drastically. Similarly, with the shift from fossil fuels to renewable sources of energy, there is a dire need for such systems that not only predict and forecast with…
Energy systems optimisation models are a leading tool for informing decisions in the energy transition. However, these models often remain opaque, and results are frequently presented without a clear discussion of their epistemic…
The interdependence of electricity and natural gas markets is becoming a major topic in energy research. Integrated energy models are used to assist decision-making for businesses and policymakers addressing challenges of energy transition…
In this paper, I outline several conceptual and methodological issues related to modeling individual and group processes embedded in clustered/hierarchical data structures. We position multilevel modeling techniques within a broader set of…