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Optimizing investment of pumped hydro storage system for renewable energy future

Goudarzi, Z ; Sharif University of Technology | 2023

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  1. Type of Document: Article
  2. DOI: 10.22094/JOIE.2023.1974939.2022
  3. Publisher: Qazvin Islamic Azad University , 2023
  4. Abstract:
  5. Renewable energies are increasingly being considered for use in electricity networks. The hig h variability of consumption, and the instability of renewable energies, necessitate the use of energy storage systems. The problem of optimizing investment for an energy storage system is formulated here. The proposed model, in particular, ddetermines the optimal size of the energy storage system based on maximizing social welfare. The problem is formulate d as a mixed-integer linear programming (MILP), and an equivalent mixed complementary problem (MCP) to solve a quadratic system of nonlinear equations. Due to its high efficiency, the Benders decomposition technique is used to solve the proposed model. The results of solving a 300-node system that cannot be solved by CPLEX using the Benders decomposiition technique are presented. The results demonstrate that the proposed method can efficiently find a solution while consider ing the network’s limitations, increasing social welfare. Finally, the performance of the MILP and MCP models for various numerical cases is compared. The findings of this paper indicate that by increasing the dimensions of the problem, the performance of the MCP model improves compared to the MILP model in terms of computational time and the value of the obje ctive function. © 2023 Qazvin Islamic Azad University. All rights reserved
  6. Keywords:
  7. Benders decomposition ; Energy storage system ; Mixed complementary problem ; Optimal sizing
  8. Source: Journal of Optimization in Industrial Engineering ; Volume 16, Issue 1 , 2023 , Pages 167-184 ; 22519904 (ISSN)
  9. URL: https://civilica.com/doc/2068869