A portfolio model for siting offshore wind farms with economic and environmental objectives

Alexana Cranmer, Erin Baker, Juuso Liesiö and Ahti Salo

European Journal of Operational Research, 2018, vol. 267, issue 1, 304-314

Abstract: Siting offshore wind farms is a complex problem due to the wake interactions between wind farms. We develop a profit maximizing portfolio model based on underlying network models to track the wake effects through a series of wind farms. Our portfolio model optimizes the siting of wind farms considering multiple wind directions and wind speeds and performs better than simple decision heuristics. Excluding sites from the portfolio has nonlinear impacts on the profitability of the portfolio of sites in that areas excluded from consideration have greater impacts on profit if they are grouped together or aligned parallel to the prevailing wind direction. The model can be readily adapted to include additional cost factors.

Keywords: OR in energy; Decision analysis; Integer programming; Networks; OR in environment and climate change (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0377221717310378
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ejores:v:267:y:2018:i:1:p:304-314

DOI: 10.1016/j.ejor.2017.11.026

Access Statistics for this article

European Journal of Operational Research is currently edited by Roman Slowinski, Jesus Artalejo, Jean-Charles. Billaut, Robert Dyson and Lorenzo Peccati

More articles in European Journal of Operational Research from Elsevier
Bibliographic data for series maintained by Catherine Liu ().