Optimization In The Energy Industry

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Optimization in the Energy Industry

Author : Josef Kallrath,Panos M. Pardalos,Steffen Rebennack,Max Scheidt
Publisher : Springer Science & Business Media
Page : 537 pages
File Size : 43,5 Mb
Release : 2008-12-25
Category : Mathematics
ISBN : 9783540889656

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Optimization in the Energy Industry by Josef Kallrath,Panos M. Pardalos,Steffen Rebennack,Max Scheidt Pdf

This book offers a broad, in-depth overview that reflects the requirements, possibilities and limits of mathematical optimization and, especially, stochastic optimization in the energy industry.

Optimization and Decision-Making in the Renewable Energy Industry

Author : Balo, Figen,Topal, Ay?e,Demir, Ezgi,Uluta?, Alptekin
Publisher : IGI Global
Page : 304 pages
File Size : 40,5 Mb
Release : 2022-03-11
Category : Business & Economics
ISBN : 9781668424742

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Optimization and Decision-Making in the Renewable Energy Industry by Balo, Figen,Topal, Ay?e,Demir, Ezgi,Uluta?, Alptekin Pdf

With immense consumption of resources, increased global warming, and environmental pollution, the energy sector has inevitably embraced sustainability. Countries are releasing plans and programs to shift their fossil fuel-dependent energy sectors into clean energy sectors, and projections show that renewable energy will be a significant part of nations’ energy mixes in the near future. Optimization and decision-making techniques have been commonly used in the energy sector as problems encountered in this sector are complex and therefore need comprehensive techniques to solve them. With the uncertainty and high-cost issues of renewable resources, the complexity increases in the sector and requires optimization and decision-making techniques. Optimization and Decision-Making in the Renewable Energy Industry analyzes renewable energy sources using current mathematical methods and techniques and provides advanced knowledge on key opportunities and challenges. The book discusses current and trending mathematical methods, tests their validity and verification, and considers their practical application in the field. Covering topics such as urban sustainability and renewable energy systems, this reference work is ideal for practitioners, academicians, industry professionals, researchers, scholars, instructors, and students.

Energy and Process Optimization for the Process Industries

Author : Frank (Xin X.) Zhu
Publisher : John Wiley & Sons
Page : 419 pages
File Size : 55,7 Mb
Release : 2013-11-25
Category : Technology & Engineering
ISBN : 9781118782538

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Energy and Process Optimization for the Process Industries by Frank (Xin X.) Zhu Pdf

Exploring methods and techniques to optimize processing energy efficiency in process plants, Energy and Process Optimization for the Process Industries provides a holistic approach that considers optimizing process conditions, changing process flowschemes, modifying equipment internals, and upgrading process technology that has already been used in a process plant with success. Field tested by numerous operating plants, the book describes technical solutions to reduce energy consumption leading to significant returns on capital and includes an 8-point Guidelines for Success. The book provides managers, chemical and mechanical engineers, and plant operators with methods and tools for continuous energy and process improvements.

Optimization Methods for Gas and Power Markets

Author : Enrico Edoli,Stefano Fiorenzani,Tiziano Vargiolu
Publisher : Springer
Page : 192 pages
File Size : 46,7 Mb
Release : 2016-04-30
Category : Business & Economics
ISBN : 9781137412973

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Optimization Methods for Gas and Power Markets by Enrico Edoli,Stefano Fiorenzani,Tiziano Vargiolu Pdf

As power and gas markets are becoming more and more mature and globally competitive, the importance of reaching maximum potential economic efficiency is fundamental in all the sectors of the value chain, from investments selection to asset optimization, trading and sales. Optimization techniques can be used in many different fields of the energy industry, in order to reduce production and financial costs, increase sales revenues and mitigate all kinds of risks potentially affecting the economic margin. For this reason the industry has now focused its attention on the general concept of optimization and to the different techniques (mainly mathematical techniques) to reach it. Optimization Methods for Gas and Power Markets presents both theoretical elements and practical examples for solving energy optimization issues in gas and power markets. Starting with the theoretical framework and the basic business and economics of power and gas optimization, it quickly moves on to review the mathematical optimization problems inherent to the industry, and their solutions – all supported with examples from the energy sector. Coverage ranges from very long-term (and capital intensive) optimization problems such as investment valuation/diversification to asset (gas and power) optimization/hedging problems, and pure trading decisions. This book first presents the readers with various examples of optimization problems arising in power and gas markets, then deals with general optimization problems and describes the mathematical tools useful for their solution. The remainder of the book is dedicated to presenting a number of key business cases which apply the proposed techniques to concrete market problems. Topics include static asset optimization, real option evaluation, dynamic optimization of structured products like swing, virtual storage or virtual power plant contracts and optimal trading in intra-day power markets. As the book progresses, so too does the level of mathematical complexity, providing readers with an appreciation of the growing sophistication of even common problems in current market practice. Optimization Methods for Gas and Power Markets provides a valuable quantitative guide to the technicalities of optimization methodologies in gas and power markets; it is essential reading for practitioners in the energy industry and financial sector who work in trading, quantitative analysis and energy risk modeling.

Optimization of Energy Supply Systems

Author : Janet Nagel
Publisher : Springer
Page : 301 pages
File Size : 49,9 Mb
Release : 2018-09-28
Category : Technology & Engineering
ISBN : 9783319963556

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Optimization of Energy Supply Systems by Janet Nagel Pdf

This book describes how a model for optimizing the energy supply system in Germany can be implemented. It focuses on the open energy modeling framework (Oemof) program for modeling energy supply systems. The individual elements of Oemof are described, as well as the model’s structure. The technical components of Oemof are subsequently demonstrated in mathematical calculations, along with sufficient Python code to begin basic modeling. The book will appeal to anyone with an interest in optimization models for energy supply systems, or in the mathematical description of the technical components of such systems in practical implementation, using a real example, Oemof. Thermodynamic descriptions of combustion are provided, so that readers can focus on modeling aspects. Researchers and practitioners will also find the book useful, as it expands on their knowledge of the technical components of energy supply systems, supported with detailed mathematical calculations.

Design and Performance Optimization of Renewable Energy Systems

Author : Mamdouh Assad,Marc A Rosen
Publisher : Academic Press
Page : 319 pages
File Size : 40,7 Mb
Release : 2021-01-12
Category : Science
ISBN : 9780128232323

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Design and Performance Optimization of Renewable Energy Systems by Mamdouh Assad,Marc A Rosen Pdf

Design and Performance Optimization of Renewable Energy Systems provides an integrated discussion of issues relating to renewable energy performance design and optimization using advanced thermodynamic analysis with modern methods to configure major renewable energy plant configurations (solar, geothermal, wind, hydro, PV). Vectors of performance enhancement reviewed include thermodynamics, heat transfer, exergoeconomics and neural network techniques. Source technologies studied range across geothermal power plants, hydroelectric power, solar power towers, linear concentrating PV, parabolic trough solar collectors, grid-tied hybrid solar PV/Fuel cell for freshwater production, and wind energy systems. Finally, nanofluids in renewable energy systems are reviewed and discussed from the heat transfer enhancement perspective. Reviews the fundamentals of thermodynamics and heat transfer concepts to help engineers overcome design challenges for performance maximization Explores advanced design and operating principles for solar, geothermal and wind energy systems with diagrams and examples Combines detailed mathematical modeling with relevant computational analyses, focusing on novel techniques such as artificial neural network analyses Demonstrates how to maximize overall system performance by achieving synergies in equipment and component efficiency

Stochastic Optimization Methods in Finance and Energy

Author : Marida Bertocchi,Giorgio Consigli,Michael A. H. Dempster
Publisher : Springer Science & Business Media
Page : 476 pages
File Size : 41,5 Mb
Release : 2011-09-15
Category : Business & Economics
ISBN : 1441995862

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Stochastic Optimization Methods in Finance and Energy by Marida Bertocchi,Giorgio Consigli,Michael A. H. Dempster Pdf

This volume presents a collection of contributions dedicated to applied problems in the financial and energy sectors that have been formulated and solved in a stochastic optimization framework. The invited authors represent a group of scientists and practitioners, who cooperated in recent years to facilitate the growing penetration of stochastic programming techniques in real-world applications, inducing a significant advance over a large spectrum of complex decision problems. After the recent widespread liberalization of the energy sector in Europe and the unprecedented growth of energy prices in international commodity markets, we have witnessed a significant convergence of strategic decision problems in the energy and financial sectors. This has often resulted in common open issues and has induced a remarkable effort by the industrial and scientific communities to facilitate the adoption of advanced analytical and decision tools. The main concerns of the financial community over the last decade have suddenly penetrated the energy sector inducing a remarkable scientific and practical effort to address previously unforeseeable management problems. Stochastic Optimization Methods in Finance and Energy: New Financial Products and Energy Markets Strategies aims to include in a unified framework for the first time an extensive set of contributions related to real-world applied problems in finance and energy, leading to a common methodological approach and in many cases having similar underlying economic and financial implications. Part 1 of the book presents 6 chapters related to financial applications; Part 2 presents 7 chapters on energy applications; and Part 3 presents 5 chapters devoted to specific theoretical and computational issues.

Robust Optimization in Electric Energy Systems

Author : Xu Andy Sun,Antonio J. Conejo
Publisher : Springer Nature
Page : 337 pages
File Size : 54,8 Mb
Release : 2021-11-08
Category : Business & Economics
ISBN : 9783030851286

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Robust Optimization in Electric Energy Systems by Xu Andy Sun,Antonio J. Conejo Pdf

This book covers robust optimization theory and applications in the electricity sector. The advantage of robust optimization with respect to other methodologies for decision making under uncertainty are first discussed. Then, the robust optimization theory is covered in a friendly and tutorial manner. Finally, a number of insightful short- and long-term applications pertaining to the electricity sector are considered. Specifically, the book includes: robust set characterization, robust optimization, adaptive robust optimization, hybrid robust-stochastic optimization, applications to short- and medium-term operations problems in the electricity sector, and applications to long-term investment problems in the electricity sector. Each chapter contains end-of-chapter problems, making it suitable for use as a text. The purpose of the book is to provide a self-contained overview of robust optimization techniques for decision making under uncertainty in the electricity sector. The targeted audience includes industrial and power engineering students and practitioners in energy fields. The young field of robust optimization is reaching maturity in many respects. It is also useful for practitioners, as it provides a number of electricity industry applications described up to working algorithms (in JuliaOpt).

Analytics and Optimization for Renewable Energy Integration

Author : Ning Zhang,Chongqing Kang,Ershun Du,Yi Wang
Publisher : CRC Press
Page : 261 pages
File Size : 51,8 Mb
Release : 2019-02-21
Category : Technology & Engineering
ISBN : 9780429847691

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Analytics and Optimization for Renewable Energy Integration by Ning Zhang,Chongqing Kang,Ershun Du,Yi Wang Pdf

The scope of this book covers the modeling and forecast of renewable energy and operation and planning of power system with renewable energy integration.The first part presents mathematical theories of stochastic mathematics; the second presents modeling and analytic techniques for renewable energy generation; the third provides solutions on how to handle the uncertainty of renewable energy in power system operation. It includes advanced stochastic unit commitment models to acquire the optimal generation schedule under uncertainty, efficient algorithms to calculate the probabilistic power, and an efficient operation strategy for renewable power plants participating in electricity markets.

Hydroprocessing for Clean Energy

Author : Frank (Xin X.) Zhu,Richard Hoehn,Vasant Thakkar,Edwin Yuh
Publisher : John Wiley & Sons
Page : 548 pages
File Size : 43,7 Mb
Release : 2017-01-04
Category : Technology & Engineering
ISBN : 9781118921357

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Hydroprocessing for Clean Energy by Frank (Xin X.) Zhu,Richard Hoehn,Vasant Thakkar,Edwin Yuh Pdf

Provides a holistic approach that looks at changing process conditions, possible process design changes, and process technology upgrades Includes process integration techniques for improving process designs and for applying optimization techniques for improving operations focusing on hydroprocessing units. Discusses in details all important aspects of hydroprocessing – including catalytic materials, reaction mechanism, as well as process design, operation and control, troubleshooting and optimization Methods and tools are introduced that have a successful application track record at UOP and many industrial plants in recent years Includes relevant calculations/software/technologies hosted online for purchasers of the book

Energy Markets and Responsive Grids

Author : Sean Meyn,Tariq Samad,Ian Hiskens,Jakob Stoustrup
Publisher : Springer
Page : 518 pages
File Size : 46,8 Mb
Release : 2018-06-09
Category : Science
ISBN : 9781493978229

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Energy Markets and Responsive Grids by Sean Meyn,Tariq Samad,Ian Hiskens,Jakob Stoustrup Pdf

This volume consists of selected essays by participants of the workshop Control at Large Scales: Energy Markets and Responsive Grids held at the Institute for Mathematics and its Applications, Minneapolis, Minnesota, U.S.A. from May 9-13, 2016. The workshop brought together a diverse group of experts to discuss current and future challenges in energy markets and controls, along with potential solutions. The volume includes chapters on significant challenges in the design of markets and incentives, integration of renewable energy and energy storage, risk management and resilience, and distributed and multi-scale optimization and control. Contributors include leading experts from academia and industry in power systems and markets as well as control science and engineering. This volume will be of use to experts and newcomers interested in all aspects of the challenges facing the creation of a more sustainable electricity infrastructure, in areas such as distributed and stochastic optimization and control, stability theory, economics, policy, and financial mathematics, as well as in all aspects of power system operation.

Stochastic Optimization in Energy Systems

Author : Steffen Rebennack,Josef Kallrath
Publisher : Springer Vieweg
Page : 300 pages
File Size : 49,6 Mb
Release : 2016-09-07
Category : Technology & Engineering
ISBN : 3834816078

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Stochastic Optimization in Energy Systems by Steffen Rebennack,Josef Kallrath Pdf

This book provides an overview on stochastic optimization and its application in the Energy Industry. Special focus is given on hydro-thermal scheduling and, more generally, storage systems. The book begins by illuminating several approaches to deal with uncertainties (e.g., robust optimization, chance-constraints, stochastic optimization) and discusses their relations, advantages and disadvantages. Special focus is given on GAMS coded examples and the usage of the GAMS software. The book is very suitable for courses in business schools, system engineering, applied mathematics, operations research and energy producing industry.

Energy Optimization in Process Systems

Author : Stanislaw Sieniutycz,Jacek Jezowski
Publisher : Elsevier
Page : 768 pages
File Size : 46,6 Mb
Release : 2009-05-06
Category : Science
ISBN : 008091442X

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Energy Optimization in Process Systems by Stanislaw Sieniutycz,Jacek Jezowski Pdf

Despite the vast research on energy optimization and process integration, there has to date been no synthesis linking these together. This book fills the gap, presenting optimization and integration in energy and process engineering. The content is based on the current literature and includes novel approaches developed by the authors. Various thermal and chemical systems (heat and mass exchangers, thermal and water networks, energy converters, recovery units, solar collectors, and separators) are considered. Thermodynamics, kinetics and economics are used to formulate and solve problems with constraints on process rates, equipment size, environmental parameters, and costs. Comprehensive coverage of dynamic optimization of energy conversion systems and separation units is provided along with suitable computational algorithms for deterministic and stochastic optimization approaches based on: nonlinear programming, dynamic programming, variational calculus, Hamilton-Jacobi-Bellman theory, Pontryagin's maximum principles, and special methods of process integration. Integration of heat energy and process water within a total site is shown to be a significant factor reducing production costs, in particular costs of utilities for the chemical industry. This integration involves systematic design and optimization of heat exchangers and water networks (HEN and WN). After presenting basic, insight-based Pinch Technology, systematic, optimization-based sequential and simultaneous approaches to design HEN and WN are described. Special consideration is given to the HEN design problem targeting stage, in view of its importance at various levels of system design. Selected, advanced methods for HEN synthesis and retrofit are presented. For WN design a novel approach based on stochastic optimization is described that accounts for both grassroot and revamp design scenarios. Presents a unique synthesis of energy optimization and process integration that applies scientific information from thermodynamics, kinetics, and systems theory Discusses engineering applications including power generation, resource upgrading, radiation conversion and chemical transformation, in static and dynamic systems Clarifies how to identify thermal and chemical constraints and incorporate them into optimization models and solutions

Analytical Methods for Energy Diversity and Security

Author : Morgan Bazilian,Fabien Roques
Publisher : Elsevier
Page : 364 pages
File Size : 42,5 Mb
Release : 2009-03-02
Category : Business & Economics
ISBN : 0080915310

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Analytical Methods for Energy Diversity and Security by Morgan Bazilian,Fabien Roques Pdf

Analytical Methods for Energy Diversity and Security is an ideal volume for professionals in academia, industry and government interested in the rapidly evolving area at the nexus between energy and climate change policy. The cutting-edge international contributions allow for a wide coverage of the topic. Analytical Methods for Energy Diversity and Security focuses on the consideration of financial risk in the energy sector. It describes how tools borrowed from financial economic theory, in particular mean-variance portfolio theory, can provide insights on the costs and benefits of diversity, and thus inform investment decision making in conditions of uncertainty. It gives the reader an in-depth understanding of how to manage risk at a time when the world’s focus is on this area. The book provides insights from leading authorities in the area of energy security. It gives readers abundant, rigorous analysis and guidance at a critical time in facing the twin challenges of energy security and climate change. The book also highlights the role of clean energy technology in moving towards future diverse and intelligent electricity systems. It will be a trusted, first point of reference for decision-makers in the field of energy policy. The book includes a foreword by the 2007 Nobel Peace Prize winner. All royalties from sale of this book will be donated to charities working in the energy sector in the developing world. Theoretical underpinning and applied use of Portfolio theory in the energy sector In-depth consideration of risk Contributions from leading international energy economists Innovative methodologies for thinking about energy security and diversity