IDEAS home Printed from https://ideas.repec.org/a/spr/ijsaem/v15y2024i3d10.1007_s13198-023-02194-7.html
   My bibliography  Save this article

Optimizing aging assets replacement in power systems

Author

Listed:
  • Aidin Shaghaghi

    (Iran University of Science and Technology)

  • Mohammad Taghitahooneh

    (Iran University of Science and Technology)

  • Reza Dashti

    (Iran University of Science and Technology)

Abstract

The electrical distribution system comprises various assets with limited lifespans. The operational range of these assets is determined based on influential factors in the electrical distribution systems. Additionally, as the age of the assets, their performance becomes compromised and susceptible to disruptions. The major challenges in managing aging assets revolve around cost and cost-effectiveness. Replacing aging assets requires substantial capital investment. Failure to replace these assets leads to significant disruptions in the continuity and quality of power supply, imposing high costs on the electrical distribution system. This article aims to strike a balance between the costs of replacing aging assets and the costs incurred due to asset deterioration in electrical distribution systems to achieve the minimum capital investment cost. The main advantage of the proposed algorithm is its comprehensive consideration of all factors influencing the cost–benefit trade-off of aging assets. This algorithm determines the optimal time for replacing aging assets to achieve the most economical state possible. The investigations in this study reveal that the replacement time for aging assets varies between 39 to 42 years, depending on the different conditions examined.

Suggested Citation

  • Aidin Shaghaghi & Mohammad Taghitahooneh & Reza Dashti, 2024. "Optimizing aging assets replacement in power systems," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 15(3), pages 1098-1108, March.
    • Handle: RePEc:spr:ijsaem:v:15:y:2024:i:3:d:10.1007_s13198-023-02194-7
    DOI: 10.1007/s13198-023-02194-7
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13198-023-02194-7
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13198-023-02194-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:ijsaem:v:15:y:2024:i:3:d:10.1007_s13198-023-02194-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.