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Plexos Tutorials Long - Term - Modelling - (I)

The document discusses long term capacity expansion modelling. It describes how capacity expansion aims to find the optimal combination of generation builds, retirements, and transmission upgrades over a long planning horizon to minimize total system costs. It outlines the formulation of the long term objective function that considers capital costs, production costs, and unserved energy costs. The formulation is presented as a mixed integer problem subject to constraints including energy balance, feasible dispatch, build limits, and integrality of builds.

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410 views11 pages

Plexos Tutorials Long - Term - Modelling - (I)

The document discusses long term capacity expansion modelling. It describes how capacity expansion aims to find the optimal combination of generation builds, retirements, and transmission upgrades over a long planning horizon to minimize total system costs. It outlines the formulation of the long term objective function that considers capital costs, production costs, and unserved energy costs. The formulation is presented as a mixed integer problem subject to constraints including energy balance, feasible dispatch, build limits, and integrality of builds.

Uploaded by

zrqtsinghua
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
  • Fundamentals
  • Formulation

Long Term Modelling (I)

Agenda

1 Fundamentals

2 Formulation

3 Modelling and Decomposition of Long Term Constraints

4 Hydro Efficiency

© 2022 Energy Exemplar | 2


Fundamentals

© 2021
2022 Energy Exemplar | 3
Capacity Expansion
“Capacity Expansion”: the problem of finding the optimal combination of generation new builds and retirements
and transmission upgrades (and retirements) that minimizes the net present value (NPV) of the total costs of the
system over a long-term planning horizon.

Cost of
retirements

Objective
Function: Fixed
Cost of new operating
builds minimizes net
costs
present value
(NPV) of

Variable
operating
costs

© 2022 Energy Exemplar | 4


Capacity Expansion
Long Term Plan

© 2022 Energy Exemplar | 5


Formulation

© 2021
2022 Energy Exemplar | 6
LT Objective

1 2
Capital costs C(x) Production costs P(x)

• Cost of new generator builds • Cost of operating the system with any
• Cost of transmission expansion given set of existing and new builds and
transmission network
• Cost of generator retirements
• Notional cost of unserved energy

© 2022 Energy Exemplar | 7


LT Optimisation

Objective:
Cost $ Minimum cost plan Total Cost C(x) = P(x)
Minimize NPV of capital & production costs
formulated as Mixed-Integer Problem
Capital Cost C(x)

Production Cost P(x)


Total
C(x) P(x)
Cost
x = Assets

© 2022 Energy Exemplar | 8


Formulation: Minimal Form

objective function
∑ ( y ) ∑ ( g ) DFy × ( BuildCostg × GenBuild(g,y) )
minimize cost: +∑ ( y ) DFy X [ FOMChargeg × 1000 × PMAXg ( Unitsg + ∑ i≤y GenBuild Unitsg,i )]
+∑ ( t ) DFt∈y × Lt × [ VoLL × USE t + ∑ g (SRMCg × GenLoadg,t )]

constraints

› Equation 1: Energy Balance


∑ ( g ) GenLoad(g,y) + USEt = Demandt ∀t
› Equation 2: Feasible Energy Dispatch
GenLoad(g,t) ≤ PMAX ( Unitsg + ∑ i≤y GenBuild Unitsg,i )
subject to: › Equation 3: Feasible Builds
∑ i≤y GenBuild g,i ≤ MaxUnitsBuiltg,y
› Equation 4: Integrality
GenBuild(g,y) integer

© 2022 Energy Exemplar | 9


LT Plan Object
Discount Rate

Expansion Algorithm
Step Size

Transmission
Chronology

© 2022 Energy Exemplar | 10


LT Plan Object
Transmission
Discount Rate

Step Size

Chronology Expansion Algorithm

© 2022 Energy Exemplar | 11

Long Term Modelling (I)
© 2022 Energy Exemplar | 2 1 2 3 4 Agenda Fundamentals Formulation Modelling and Decomposition of Long Term Constraints Hy
© 2022 Energy Exemplar | 3 © 2021 Energy Exemplar | 3 Fundamentals
© 2022 Energy Exemplar | 4 “Capacity Expansion”: the problem of finding the optimal combination of generation new builds an
© 2022 Energy Exemplar | 5 Long Term Plan Capacity Expansion
© 2022 Energy Exemplar | 6 © 2021 Energy Exemplar | 6 Formulation
© 2022 Energy Exemplar | 7 1 2 LT Objective Capital costs C(x) Production costs P(x) • Cost of new generator builds • Cost
© 2022 Energy Exemplar | 8 Objective: Minimize NPV of capital & production costs formulated as Mixed-Integer Problem C(x)
© 2022 Energy Exemplar | 9 Formulation: Minimal Form ∑ ( y ) ∑ ( g ) DFy × ( BuildCostg × GenBuild(g,y) ) +∑ ( y ) DFy X [
© 2022 Energy Exemplar | 10 LT Plan Object Step Size Chronology Discount Rate Transmission Expansion Algorithm

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