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Time Step vs. Dynamic Optimization of Generation-Capacity-Expansion Programs of Power Systems

Author

Listed:
  • Nissan Levin

    (Tel Aviv University, Tel Aviv, Israel)

  • Asher Tishler

    (Tel Aviv University, Tel Aviv, Israel)

  • Jacob Zahavi

    (Tel Aviv University, Tel Aviv, Israel)

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.

Suggested Citation

  • Nissan Levin & Asher Tishler & Jacob Zahavi, 1983. "Time Step vs. Dynamic Optimization of Generation-Capacity-Expansion Programs of Power Systems," Operations Research, INFORMS, vol. 31(5), pages 891-914, October.
    • Handle: RePEc:inm:oropre:v:31:y:1983:i:5:p:891-914
    DOI: 10.1287/opre.31.5.891
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    Citations

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    Cited by:

    1. Sarid, A. & Tzur, M., 2018. "The multi-scale generation and transmission expansion model," Energy, Elsevier, vol. 148(C), pages 977-991.
    2. Wang, Earl-Juei & Jaraiedi, Majid & Torries, Thomas F., 1996. "Modelling long-run cost minimization and environmental provisions for utility expansion," Energy Economics, Elsevier, vol. 18(1-2), pages 49-68, April.
    3. Berna Tektaş & Hasan Hüseyin Turan & Nihat Kasap & Ferhan Çebi & Dursun Delen, 2022. "A Fuzzy Prescriptive Analytics Approach to Power Generation Capacity Planning," Energies, MDPI, vol. 15(9), pages 1-26, April.
    4. Oren Setter & Asher Tishler, 2006. "A Brave Leap Or A Gradual Climb? The Dynamics Of Investment In R&D Of Integrative Technologies," Defence and Peace Economics, Taylor & Francis Journals, vol. 17(3), pages 201-222.
    5. Tishler, A. & Newman, J. & Spekterman, I. & Woo, C.K., 2006. "Cost-benefit analysis of reforming Israel's electricity industry," Energy Policy, Elsevier, vol. 34(16), pages 2442-2454, November.
    6. Ahmed, Shabbir & Sahinidis, Nikolaos V., 2008. "Selection, acquisition, and allocation of manufacturing technology in a multi-period environment," European Journal of Operational Research, Elsevier, vol. 189(3), pages 807-821, September.
    7. Gander, James P., 2012. "A simple dynamic energy capacity model," Energy Economics, Elsevier, vol. 34(1), pages 78-81.
    8. Tishler, A. & Newman, J. & Spekterman, I. & Woo, C.K., 2008. "Assessing the options for a competitive electricity market in Israel," Utilities Policy, Elsevier, vol. 16(1), pages 21-29, March.
    9. Güner, Yusuf Emre, 2018. "The improved screening curve method regarding existing units," European Journal of Operational Research, Elsevier, vol. 264(1), pages 310-326.

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