Abstract
The paper presents the application of Mixed Integer Multiple Objective Linear Programming (MIMOLP) in the power generation expansion problem of Crete for the period 2005–2020. The developed 3-period MIMOLP model includes two conflicting objectives (cost and CO2 emissions minimization) continuous and integer variables and a number of operational and logical constraints. The model is solved with the Multi-Criteria Branch and Bound (MCBB) method that provides all the efficient solutions for MIMOLP problems. A sensitivity analysis is performed in order to handle the uncertainty related to the future electricity demand in the island. Interesting conclusions are drawn from the trade offs between the two objective functions. They reveal that contrary to a fixed perception, the integration of the CO2 reduction objective can lead to solutions that are not only environmentally benign but also economically attractive in view of the potential exchange of emission permits in the framework of the emission trading mechanism.
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Mavrotas, G., Diakoulaki, D. (2005). A Mixed Integer Multiple Objective Linear Programming Model for Capacity Expansion in an Autonomous Power Generation System. In: Loulou, R., Waaub, JP., Zaccour, G. (eds) Energy and Environment. Springer, Boston, MA. https://doi.org/10.1007/0-387-25352-1_8
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DOI: https://doi.org/10.1007/0-387-25352-1_8
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