A multi-objective optimization approach to generation expansion planning is presented. The approach is designed by adding a new multi-criterie decision (MCD) procedure to the conventional algorithm which combines dynamic programming with production simulation method. The MCD procedure can help decision makers weight the relative importance of multiple attributes associated with the decision alternatives, and find the near-best compromise solution efficiently at each optimization step of the conventional, algorithm. Practical application of proposed approach to feasibility evaluation of the fourth nuclear power plant of Taiwan is also presented, demonstrating the effectiveness and limitations of the approach.
All Science Journal Classification (ASJC) codes
- Energy Engineering and Power Technology
- Electrical and Electronic Engineering