Time Step vs. Dynamic Optimization of Generation-Capacity-Expansion Programs of Power Systems
Nissan Levin, Asher Tishler, Jacob Zahavi
Operations Research · 1983 · Volume 31 · Issue 5
Abstract
We derive conditions under which the time-step, or the myopic, approach to generation capacity planning in the power industry yields solutions identical to the solution obtained by an equivalent dynamic model that views the capacity expansion program simultaneously over time. The conditions are derived for thermal power systems for which the capacity expansion program is formulated using a convex, nonlinear mathematical programming model.
Keywords
182 myopic vs. dynamic optimization of power generation systems, 297 capacity expansion programs, 653 identity between myopic and dynamic solutions
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