Economics at your fingertips  

An integrated approach to design site specific distributed electrical hubs combining optimization, multi-criterion assessment and decision making

A.T.D. Perera, Vahid M. Nik, Dasaraden Mauree and Jean-Louis Scartezzini

Energy, 2017, vol. 134, issue C, 103-120

Abstract: An integrated approach is presented in this study to design electrical hubs combining optimization, multi-criterion assessment and decision making. Levelized Energy Cost (LEC), Initial Capital Cost (ICC), Grid Integration Level (GI), Levelized CO2 emission (LCO2), utilization of renewable energy, flexibility of the system, loss of load probability (LOLP) are considered as criteria used to assess the design. The novel approach consists of several steps. Pareto analysis is conducted initially using 2D Pareto fronts to reduce the dimensions of the optimization problem. Subsequently, Pareto multi objective optimization is conducted considering LEC, GI and ICC which were identified as the best set of objective functions to represent the design requirements. Next, fuzzy TOPSIS and level diagrams are used for multi-criterion decision making (MCDM) considering the set of criteria and the boundary matrix that represents the design requirements of the application. Pareto analysis shows that 5D optimization problem can be reduced to a 3D optimization problem when considering LEC, ICC and GI as the objective functions. Finally, results obtained from the case study shows that the novel method can be used design distributed energy systems considering a set of criteria which is beyond the reach of Pareto optimization with different priority levels.

Keywords: Distributed energy system; Multi-objective optimization; Multi-criterion assessment; Decision making; Electrical hub; Fuzzy TOPSIS (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
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:

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

Page updated 2018-10-13
Handle: RePEc:eee:energy:v:134:y:2017:i:c:p:103-120