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Energy Systems

, Volume 8, Issue 1, pp 127–147 | Cite as

Investment and generation optimization in electricity systems with intermittent supply

  • Athena Wu
  • Andy Philpott
  • Golbon Zakeri
Original Paper

Abstract

Increasing levels of renewable power generation require changes in investment models to deal with intermittent supply. We present a Markov decision problem that can be used to model thermal plant operation with intermittent demand, and show how this can be incorporated into a mixed integer programming model for optimally choosing investments. The model is extended to deal with staging investment over long planning horizons.

Keywords

Wind Investment Intermittency Markov chain Dantzig–Wolfe decomposition 

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Copyright information

© Springer-Verlag Berlin Heidelberg 2016

Authors and Affiliations

  1. 1.Mighty River Power LimitedAucklandNew Zealand
  2. 2.Electric Power Optimization Centre, University of AucklandAucklandNew Zealand

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