Projects per year
Abstract
This paper develops a discrete operation optimization model for combined heat and powers (CHPs) in deregulated energy markets to maximize owners' profits, where energy price forecasting is included. First, a single input and multi-output (SIMO) model for typical CHPs is established, considering the varying ratio between heat and electricity outputs at different loading levels. Then, the energy prices are forecasted with a gray forecasting model and revised in real-time based on the actual prices by using the least squares method. At last, a discrete optimization model and corresponding dynamic programming algorithm are developed to design the optimal operation strategies for CHPs in real-time. Based on the forecasted prices, the potential operating strategy which may produce the maximum profits is pre-developed. Dynamic modification is then conducted to adjust the pre-developed operating strategy after the actual prices are known. The proposed method is implemented on a 1 MW CHP on a typical day. Results show the optimized profits comply well with those derived from real-time prices after considering dynamic modification process.
Original language | English |
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Pages (from-to) | 14330-14345 |
Number of pages | 16 |
Journal | Energies |
Volume | 8 |
Issue number | 12 |
Early online date | 18 Dec 2015 |
DOIs | |
Publication status | Published - Dec 2015 |
Keywords
- Combined heat and power (CHP)
- Discrete optimization
- Dynamic programming
- Price forecasting
- Real-time market
Fingerprint
Dive into the research topics of 'Optimal operation of combined heat and power system based on forecasted energy prices in real-time markets'. Together they form a unique fingerprint.Projects
- 1 Finished
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Fellowship - Multi-Vector Energy Distribution System Modelling and Optimisation with Integrated Demand Side Response
Gu, C. (PI)
Engineering and Physical Sciences Research Council
1/09/14 → 31/08/17
Project: Research council
Profiles
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Chenghong Gu
- Department of Electronic & Electrical Engineering - Professor
- Centre for Sustainable Energy Systems (SES)
- Centre for Climate Adaptation & Environment Research (CAER)
- Centre for Regenerative Design & Engineering for a Net Positive World (RENEW)
- IAAPS: Propulsion and Mobility
Person: Research & Teaching, Core staff, Affiliate staff