Intelligent optimization of renewable resource mixes incorporating the effect of fuel risk, fuel cost and CO2 emission

Frontiers in Energy

Volumn 9, Issue 1, 2015, Pages 91-105

  Kumar, Deepak ^a   Mohanta, D K ^b   Reddy, M Jaya Bharata ^c  

^a INDIAN INSTITUTE OF TECHNOLOGY BHUBANESWAR   (India)

^b BIRLA INSTITUTE OF TECHNOLOGY   (India)

^c NATIONAL INSTITUTE OF TECHNOLOGY   (India)

Author keywords

CO2 emissions; energy policy; modern portfolio theory; multi objective optimization; planning commission

Indexed keywords

CARBON DIOXIDE; COSTS; DEVELOPING COUNTRIES; ELECTRIC POWER SYSTEM PLANNING; ENERGY POLICY; EVOLUTIONARY ALGORITHMS; FOSSIL FUELS; INVESTMENTS; PARETO PRINCIPLE; RENEWABLE ENERGY;

CO 2 EMISSION; FUEL PRICES; INDIAN POWER SYSTEMS; INTELLIGENT OPTIMIZATION; MODERN PORTFOLIO THEORIES; MULTI-OBJECTIVES OPTIMIZATION; PLANNING COMMISSION; POWER SYSTEMS PLANNING; PRICE VOLATILITY; RENEWABLE RESOURCE;

MULTIOBJECTIVE OPTIMIZATION;

EID: 84923254231     PISSN: 20951701     EISSN: 20951698     Source Type: Journal    
DOI: 10.1007/s11708-015-0345-y     Document Type: Article

References (26)

1. Wang X, McDonald J R. Modern Power System Planning. McGraw Hill, 1994
2. Mishra S K, Panda G, Majhi R. Constrained portfolio asset selection using multiobjective bacteria foraging optimization. Operations Research, 2014, 14(1): 113–145
3. Liu S T. A fuzzy modeling for fuzzy portfolio optimization. Expert Systems with Applications, 2011, 38(11): 13803–13809
4. Bazilian M, Roques F. Analytical Methods for Energy Diversity and Security. Elsevier Science, 2008
5. Awerbuch, S. Getting it right: the real cost impacts of a renewables portfolio standard. Public Utilities Fortnightly, February 15, 2000.
6. Awerbuch S. New economic cost perspectives for valuing solar technologies. In: Böer K W ed. Advances in Solar Energy: an Annual Review of Research and Development. Boulder: ASES. 1995
7. Awerbuch S. Market-Based IRP: It’s Easy! Electricity Journal, 1995, 8(3): 50–67
8. Awerbuch S, Berger M. Applying portfolio theory to EU electricity planning and policy-making. International Energy Agency Report number EET/2003/03. 2003
9. Awerbuch S, Dillard J, Mouck T, Preston A. Capital budgeting, technological innovation and the emerging competitive environment of the electric power industry. Energy Policy, 1996, 24(2): 195–202
10. Stirling A. On the economics and analysis of diversity. SPRU Electronic Working Paper No. 28. 1998
11. Krey B, Zweifel P. Efficient electricity portfolios for the United States and Switzerland: an investor view. 2008-10, http://www.econ.uzh.ch/faculty/groupzweifel/research/wp0812.pdf
12. Awerbuch S. The Cost of geothermal energy in the western us regions: a portfolio based approach. Sandia Report SAND 2005-5173, Sandia National Laboratories, TN, USA, 2005
13. Anagnostopoulos K P, Mamanis G. The mean-variance cardinality constrained portfolio optimization problem: an experimental evaluation of five multiobjective evolutionary algorithms. Expert Systems with Applications, 2011, 38(11): 14208–14217
14. Gent M R, Lamont J W. Minimum emission dispatch. IEEE Transactions on Power Apparatus and Systems, 2007, PAS-90(60): 2650–2660
15. Deb K, Pratap A, Agarwal S, Meyarivan T. A fast and elitist multiobjective genetic algorithm: NSGA-II. IEEE Transactions on Evolutionary Computation, 2002, 6(2): 182–197
16. Carrano E G, Soares L A E, Takahashi R H C, Saldanha R R, Neto O M. Electric distribution network multiobjective design using a problem-specific genetic algorithm. IEEE Transactions on Power Delivery, 2006, 21(2): 995–1005
17. Srinivas N, Deb K. Multiobjective optimization using nondominated sorting in genetic algorithms. Evolutionary Computation, 1994, 2(3): 221–248
18. Kumar D, Samantaray S R, Kamwa I, Sahoo N C. Reliability-constrained optimal placement of multiple distributed generators in power distribution network using cat-swarm-optimization. Electric Power Components and Systems, 2014, 42(2): 149–164
19. California Energy Commission. Comparative costs of California central station electricity generation technologies (Draft Staff Report). 2007, www.energy.ca.gov/2007publications/CEC-200-2007-011/CEC-200-2007-011-SD.PDF
20. Planning Commission of India. Mid-term appraisal for eleventh five year plan (2007–2012). 2010, http://planningcommission.nic.in/plans/mta/11th_mta/MTA.html
21. Planning Commission of India. Approach paper to the twelfth five year plan (2012-2017). 2011-10, http://planningcommission.nic.in/plans/planrel/12appdrft/appraoch_12plan.pdf
22. Corporate Catalyst India. A report on Indian power and energy industry. 2007, www.cci.in/pdfs/surveys-reports/power-and-energyindustry-in-india.pdf
23. Ministry of New and Renewable Energy. India. Annual Report 2010–2011. http://www.mnre.gov.in/file-manager/annual-report/2010-2011/EN/index.htm.
24. Lazard. Levelized cost of energy analysis. 2009, http://solarthermalworld.org/content/levelized-cost-energy-analysis-2009
25. Central Electricity Authority. India. Cost of generation for the year 2008-2009. 2010, http://www.cea.nic.in/report.html
26. Central Electricity Authority. India. Growth of electricity sectors in India from 1947–2013. 2013-07, http://www.cea.nic.in/reports/planning/dmlf/growth.pdf