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In this paper, the economic/environmental dispatch for a smart grid with wind and thermal units is formulated. The formulation takes into account the stochastic nature of wind power output and the imbalance charges due to the mismatch between the actual and scheduled wind power outputs. Because minimizing the operating cost of thermal and wind units, and minimizing the emissions of thermal units are...
To date, optimization models of uncertain endogenous technological change models commonly add cost resulting from overestimating technological learning rates into an objective function with a subjective risk factor. This paper explores two risk-constrained stochastic optimization methods for dealing with uncertain technological learning with a simplified energy system model. The model assumes one...
This paper presents a newly developed resource constrained project scheduling method in stochastic networks by using critical chain concept. The objective of the presented model is defined as minimizing the multiplication of expected project duration and its variance. This paper suggests a competition routine by implementing a policy to maximize the total contribution of selected activities in reducing...
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