Economic Framework

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The Experts below are selected from a list of 562875 Experts worldwide ranked by ideXlab platform

Abigail A Sewell - One of the best experts on this subject based on the ideXlab platform.

Jose A Romagnoli - One of the best experts on this subject based on the ideXlab platform.

  • a multi objective evolutionary optimization Framework for a natural gas liquids recovery unit
    Computers & Chemical Engineering, 2021
    Co-Authors: Santiago D Salas, Lizbeth Contrerassalas, Pamela Rubioduenas, Jorge Chebeir, Jose A Romagnoli
    Abstract:

    Abstract A simulation-based multi-objective optimization scheme is proposed for determining the optimal operating conditions of a natural gas liquids (NGL) recovery unit. Two objective functions are considered, the annualized profitability of the unit and the concentration of methane in the NGL product stream. Two problem formulations are studied including a deterministic model and a stochastic model which incorporates market uncertainty. The techno-Economic Framework combines the process simulation package PRO/II and a Python environment, in which the simulation status is tracked through the optimization. An evolutionary optimization algorithm simultaneously optimizes eight decision variables for constructing a 2-D Pareto front. Results provide insightful guidance on determining the most adequate conditions of a gas subcooled process (GSP) unit and portray an operational back-off which aims to reduce the impact introduced by market uncertainties.

Philip Hanser - One of the best experts on this subject based on the ideXlab platform.

  • Economic Framework for compensating distributed energy resources theory and practice
    The Electricity Journal, 2018
    Co-Authors: Agustin J Ros, Romkaew Broehm, Philip Hanser
    Abstract:

    Abstract We offer an Economic Framework for analyzing the compensation that DERs should receive for energy exported to the grid. This Economic Framework requires that the prices paid to DER owners be based upon the forward-looking, Economic costs that their utility avoids when it buys the energy from the customer. We explain why this results in efficient ‘build or buy’ and ‘purchase and install’ decisions of the utility and DER customer, respectively.

Mehdi Nikzad - One of the best experts on this subject based on the ideXlab platform.

  • Complete active-reactive power resource scheduling of smart distribution system with high penetration of distributed energy resources
    Journal of Modern Power Systems and Clean Energy, 2017
    Co-Authors: Abouzar Samimi, Mehdi Nikzad
    Abstract:

    In traditional power systems, besides the conventional power plants that provide the necessary reactive power in transmission system, the shunt capacitors along with the tap changers of transformers are also employed in distribution networks. In future years, because of the high number of distributed resources integrated into the distribution networks, it will be essential to schedule complete active-reactive power at distribution level. In this research work, an Economic Framework based on the active-reactive power bids has been developed for complete active-reactive power dispatch scheduling of smart distribution networks. The Economical complete active-reactive power scheduling approach suggested in this study motivates distributed energy resources (DERs) to cooperate in both active power markets and the Volt/Var control scheme. To this end, using DER’s reactive power capability, a generic Framework of reactive power offers for DERs is extracted. A 22-bus distribution test system is implemented to verify the impressiveness of the suggested active-reactive power scheduling approach.

Santiago D Salas - One of the best experts on this subject based on the ideXlab platform.

  • a multi objective evolutionary optimization Framework for a natural gas liquids recovery unit
    Computers & Chemical Engineering, 2021
    Co-Authors: Santiago D Salas, Lizbeth Contrerassalas, Pamela Rubioduenas, Jorge Chebeir, Jose A Romagnoli
    Abstract:

    Abstract A simulation-based multi-objective optimization scheme is proposed for determining the optimal operating conditions of a natural gas liquids (NGL) recovery unit. Two objective functions are considered, the annualized profitability of the unit and the concentration of methane in the NGL product stream. Two problem formulations are studied including a deterministic model and a stochastic model which incorporates market uncertainty. The techno-Economic Framework combines the process simulation package PRO/II and a Python environment, in which the simulation status is tracked through the optimization. An evolutionary optimization algorithm simultaneously optimizes eight decision variables for constructing a 2-D Pareto front. Results provide insightful guidance on determining the most adequate conditions of a gas subcooled process (GSP) unit and portray an operational back-off which aims to reduce the impact introduced by market uncertainties.