Journal Article

FZJ-2021-05601

http://join2-wiki.gsi.de/foswiki/pub/Main/Artwork/join2_logo100x88.png Budget-cut: introduction to a budget based cutting-plane algorithm for capacity expansion models

Singh, B. (Corresponding author) ; Rehberg, O. ; Groß, T.FZJ*RWTH* ; Hoffmann, M.FZJ*RWTH* ; Kotzur, L.FZJ* ; Stolten, D.FZJ*RWTH*

2022
Springer Heidelberg

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Please use a persistent id in citations: http://hdl.handle.net/2128/31169  doi:10.1007/s11590-021-01826-w

Abstract: We present an algorithm to solve capacity extension problems that frequently occur in energy system optimization models. Such models describe a system where certain components can be installed to reduce future costs and achieve carbon reduction goals; however, the choice of these components requires the solution of a computationally expensive combinatorial problem. In our proposed algorithm, we solve a sequence of linear programs that serve to tighten a budget—the maximum amount we are willing to spend towards reducing overall costs. Our proposal finds application in the general setting where optional investment decisions provide an enhanced portfolio over the original setting that maintains feasibility. We present computational results on two model classes, and demonstrate computational savings up to 96% on certain instances.

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Contributing Institute(s):

1. Technoökonomische Systemanalyse (IEK-3)

Research Program(s):

1. 1111 - Effective System Transformation Pathways (POF4-111) (POF4-111)
2. 1112 - Societally Feasible Transformation Pathways (POF4-111) (POF4-111)

Appears in the scientific report 2022

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Database coverage:
; ; ; Clarivate Analytics Master Journal List ; Current Contents - Engineering, Computing and Technology ; DEAL Springer ; Essential Science Indicators ; IF < 5 ; JCR ; SCOPUS ; Science Citation Index Expanded ; Web of Science Core Collection

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