TIME STEP VS. DYNAMIC OPTIMIZATION OF GENERATION-CAPACITY-EXPANSION PROGRAMS OF POWER SYSTEMS.

Research output: Contribution to journalArticlepeer-review

Abstract

The authors derive conditions under which the time-step, or the myopic, approach to generation capacity planning in the power industry yields solutions identical to the solution obtained by an equivalent dynamic model that views the capacity expansion program simultaneously over time. The conditions are derived for thermal power systems for which the capacity expansion program is formulated using a convex, nonlinear mathematical programming model.

Original languageEnglish
Pages (from-to)891-914
Number of pages24
JournalOperations Research
Volume31
Issue number5
DOIs
StatePublished - 1983

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