EURO-Online login
- New to EURO? Create an account
- I forgot my username and/or my password.
- Help with cookies
(important for IE8 users)
4002. Models for electricity capacity expansion with demand uncertainty and a carbon budget
Invited abstract in session WB-22: Capacity expansion planning for energy systems, stream Energy Management.
Wednesday, 10:30-12:00Room: 81 (building: 116)
Authors (first author is the speaker)
| 1. | Beste Akbas
|
| Imperial College London | |
| 2. | Eddie Anderson
|
| Analytics and Operations Management, Imperial College London | |
| 3. | Heikki Peura
|
| Information and Service Department, Aalto University School of Business |
Abstract
Energy capacity planning faces numerous uncertainties, especially regarding future demand and changes in generation costs. The development of new technologies has challenged previous assumptions about the affordability of renewable energy sources. As a result, the changing cost dynamics disrupt the traditional patterns, leading to significant impacts on expansion decisions and the future composition of the generation portfolio, influenced by the shifting dynamics between renewables and conventional sources. Additionally, the construction of new electricity generation facilities powered by gas or nuclear typically entails lengthy construction periods, with operational lifespans expected to extend beyond 15 years. Nevertheless, capacity expansion extends beyond long-term projects. Short-term strategies, including extending the lifespan of existing generation capacity that would otherwise be retired, and implementing demand response initiatives, have significant influence over the overall capacity landscape. In this study, we examine the socially optimal capacity expansion decisions, taking into account future carbon targets, demand uncertainty, and the integration of long-term and short-term generators.
Keywords
- Energy Policy and Planning
- Programming, Linear
Status: accepted
Back to the list of papers