Integrated production and renewable energy generation in the presence of hydrogen energy storage
Youyi Feng, Mozart B.C. Menezes
Production and Operations Management · 2022 · Volume 31 · Issue 5
Abstract
In this paper, we propose an inventory model that considers dual sources with energy storage to address the energy efficiency of an effective make-to-stock production facility that has access to grid electricity and a source of renewable energy, along with energy-storage capabilities. Such systems are being implemented in practice; however, the literature on inventory models does not offer solutions for extracting value from the management of such a complex energy mix coupled to energy-storage technologies. We explore a periodic review production/inventory model in which hydrogen functions as an energy-storage mechanism. We identify the structural properties of the objective function and obtain managerial insights through a complementarity analysis that is aimed at characterizing optimal energy-efficiency policies.
Keywords
energy storage, optimal inventory-production management policies, renewable energy, sustainable development goals, wind-grid hydrogen
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