A risk-averse stochastic dynamic programming approach to energy hub optimal dispatch
This paper studies the optimal operation problem of an energy hub with multiple energy sources to serve stochastic electricity and heat loads in the presence of uncertain prices as well as operational constraints, such as minimum uptime and downtime requirements. Price and demand uncertainties a...
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| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
2019
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| Subjects: | |
| Online Access: | https://hdl.handle.net/10356/104690 http://hdl.handle.net/10220/50052 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This paper studies the optimal operation problem of
an energy hub with multiple energy sources to serve stochastic electricity
and heat loads in the presence of uncertain prices as well
as operational constraints, such as minimum uptime and downtime
requirements. Price and demand uncertainties are modeled by
stochastic processes. The goal is to minimize some risk functional
of the energy hub operational cost. A stochastic dynamic optimization
formulation is introduced for the problem. An approximate
dynamic programming framework, based on cost function approximation,
is proposed to obtain dynamic dispatch policies. The approach
enables a risk-sensitive energy hub operator to consider a
non-differentiable risk measure and various constraints. The performance
of the approach for the energy hub dispatch problem and
characteristics of the storage levels are numerically investigated. |
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