Optimal management of wind and solar energy resources

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dc.contributor.author Thomaidis, Nikolaos S.
dc.contributor.author Santos Alamillos, Francisco J.
dc.contributor.author Pozo Vázquez, David
dc.contributor.author Usaola García, Julio
dc.date.accessioned 2016-09-08T10:08:01Z
dc.date.available 2019-02-01T23:00:05Z
dc.date.issued 2016-02-01
dc.identifier.bibliographicCitation Computers & Operations Research, 2016, 66, pp. 284-291
dc.identifier.issn 0305-0548
dc.identifier.uri http://hdl.handle.net/10016/23529
dc.description.abstract This paper presents a portfolio-based approach to the harvesting of renewable energy (RE) resources. Our examined problem setting considers the possibility of distributing the total available capacity across an array of heterogeneous RE generation technologies (wind and solar power production units) being dispersed over a large geographical area. We formulate the capacity allocation process as a bi-objective optimization problem, in which the decision maker seeks to increase the mean productivity of the entire array while having control on the variability of the aggregate energy supply. Using large-scale optimization techniques, we are able to calculate - to an arbitrary degree of accuracy - the complete set of Pareto-optimal configurations of power plants, which attain the maximum possible energy delivery for a given level of power supply risk. Experimental results from a reference geographical region show that wind and solar resources are largely complementary. We demonstrate how this feature could help energy policy makers to improve the overall reliability of future RE generation in a properly designed risk management framework.
dc.format.extent 8
dc.format.mimetype application/pdf
dc.language.iso eng
dc.publisher Elsevier
dc.rights © Elsevier 2015
dc.rights Atribución-NoComercial-SinDerivadas 3.0 España
dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.other Renewable energy harvesting
dc.subject.other Energy supply risk management
dc.subject.other Multi-criteria mathematical programming
dc.subject.other Pareto-optimal set
dc.subject.other Markowitz's portfolio theory
dc.subject.other Numerical weather prediction
dc.subject.other Portfolio selection
dc.subject.other Baseload power
dc.subject.other Optimization
dc.subject.other Variability
dc.subject.other Plants
dc.subject.other Farms
dc.title Optimal management of wind and solar energy resources
dc.type article
dc.relation.publisherversion http://dx.doi.org/10.1016/j.cor.2015.02.016
dc.subject.eciencia Ingeniería Industrial
dc.identifier.doi 10.1016/j.cor.2015.02.016
dc.rights.accessRights openAccess
dc.relation.projectID Gobierno de España. ENE2013-43131-R
dc.type.version acceptedVersion
dc.relation.eventtype proceeding
dc.identifier.publicationfirstpage 284
dc.identifier.publicationlastpage 291
dc.identifier.publicationtitle Computers and operations research
dc.identifier.publicationvolume 66
dc.identifier.uxxi AR/0000017575
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