Title: Longer term strategic decision making for coal-based power systems incorporating CO2 sequestration
Authors: Yidong Zhang; Mark H. Karwan
Global Optimization Solutions, Global Supply Chain Services, BASF (China), Shanghai, 200137, China
Department of Industrial and Systems Engineering, University at Buffalo, The State University of New York, Buffalo, New York, 14260, USA
Abstract: This research is inspired by forecasts which show that coal-based power plants will remain an important part of the nation's and world's energy mix. However since coal-based plants generate a substantial amount of CO2 with significant impact on the greenhouse effect, CO2 is expected to be further regulated in the future. CCS is a promising technology but has a variety of costs involved in a full systems approach: where, when and how to construct and operate potential new plants, retrofit existing plants, construct and operate injection wells and pipelines. This is strategically important with a planning horizon of 20-40 years. We develop a mathematical programming model of the entire system with consideration of all costs and revenues and environmental regulations. We develop an algorithm incorporating time aggregation and a rolling horizon cascade approach and present computational experiments.
Keywords: CO2 sequestration system design; long term strategic modelling; large-scale optimisation.
Int. J. of Mathematics in Operational Research, 2017 Vol.11, No.2, pp.219 - 270
Available online: 29 Aug 2017