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A novel approach for efficiency assessment of conventional power plants based on principal component analysis

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  • Ali Azadeh
  • Mahmoud Ghiasi Moaser

Abstract

The investigation of performance efficiency and productivity in power generation sector has become a need due to the importance of energy consumption in the world. Several studies have concentrated on the performance assessment of conventional power plants through mathematical and statistical methods. This paper presents a novel approach based on principal component analysis (PCA) for efficiency assessment of conventional power plants. This study considers the previous approaches, namely: data envelopment analysis (DEA) and PCA for ranking of decision-making units (DMUs). The applicability and superiority of the proposed approach is shown for 15 actual conventional power plants. We also applied the proposed approach to other datasets in previous studies to show its advantages. The numerical results showed that the proposed approach provides better solution than previous studies. It has been shown that in some cases the effect of the number of efficient units is contrary to what previous studies have already predicted. Moreover, the results of the novel approach provide better rankings than previous studies.

Suggested Citation

  • Ali Azadeh & Mahmoud Ghiasi Moaser, 2010. "A novel approach for efficiency assessment of conventional power plants based on principal component analysis," International Journal of Productivity and Quality Management, Inderscience Enterprises Ltd, vol. 6(2), pages 231-248.
    • Handle: RePEc:ids:ijpqma:v:6:y:2010:i:2:p:231-248
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