Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation

Autores
Samper, Mauricio Eduardo; Vargas, Alberto
Año de publicación
2013
Idioma
inglés
Tipo de recurso
artículo
Estado
versión publicada
Descripción
Investment in distributed generation (DG) is an attractive distribution planning option for adding flexibility to an expansion plan, mainly by deferring network reinforcements. In this first part of a two-part paper, a risk-based optimization approach is proposed to model a multistage distribution expansion planning problem that takes DG into account as a flexible option to temporarily defer large network investments. Five features of the installation of DG related to location, size, type, operation and timing are all optimized. The evolutionary particle swarm optimization (EPSO) method is applied to solve this mixed integer nonlinear problem. A return-per-risk index is proposed to assess expansion investments. This index achieves an efficient synergy between the expected return and the risk of investments by performing Monte Carlo simulations. In turn, the flexibility of network investment deferral is assessed through a real option valuation. Finally, in order to quantify the investment deferral benefit, the expected return from a traditional expansion plan (without DG) is compared to the return obtained from a flexible expansion plan (with DG). In the companion paper, the proposed approach is tested on a typical Latin American distribution network; implementation aspects and analysis of numerical results are presented.
Fil: Samper, Mauricio Eduardo. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energia Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina
Fil: Vargas, Alberto. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energia Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina
Materia
Distributed Generation
Epso
Distribution Planning
Expansion Decisions
Real Options
Risk Analysis
Nivel de accesibilidad
acceso abierto
Condiciones de uso
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
Repositorio
CONICET Digital (CONICET)
Institución
Consejo Nacional de Investigaciones Científicas y Técnicas
OAI Identificador
oai:ri.conicet.gov.ar:11336/22907
Acceder
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oai_identifier_str oai:ri.conicet.gov.ar:11336/22907
network_acronym_str CONICETDig
repository_id_str 3498
network_name_str CONICET Digital (CONICET)
spelling Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulationSamper, Mauricio EduardoVargas, AlbertoDistributed GenerationEpsoDistribution PlanningExpansion DecisionsReal OptionsRisk Analysishttps://purl.org/becyt/ford/2.2https://purl.org/becyt/ford/2Investment in distributed generation (DG) is an attractive distribution planning option for adding flexibility to an expansion plan, mainly by deferring network reinforcements. In this first part of a two-part paper, a risk-based optimization approach is proposed to model a multistage distribution expansion planning problem that takes DG into account as a flexible option to temporarily defer large network investments. Five features of the installation of DG related to location, size, type, operation and timing are all optimized. The evolutionary particle swarm optimization (EPSO) method is applied to solve this mixed integer nonlinear problem. A return-per-risk index is proposed to assess expansion investments. This index achieves an efficient synergy between the expected return and the risk of investments by performing Monte Carlo simulations. In turn, the flexibility of network investment deferral is assessed through a real option valuation. Finally, in order to quantify the investment deferral benefit, the expected return from a traditional expansion plan (without DG) is compared to the return obtained from a flexible expansion plan (with DG). In the companion paper, the proposed approach is tested on a typical Latin American distribution network; implementation aspects and analysis of numerical results are presented.Fil: Samper, Mauricio Eduardo. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energia Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; ArgentinaFil: Vargas, Alberto. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energia Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; ArgentinaInstitute of Electrical and Electronics Engineers2013-08info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/resource_type/c_6501info:ar-repo/semantics/articuloapplication/pdfapplication/pdfhttp://hdl.handle.net/11336/22907Samper, Mauricio Eduardo; Vargas, Alberto; Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation; Institute of Electrical and Electronics Engineers; Ieee Transactions On Power Systems; 28; 3; 8-2013; 2331-23400885-89501558-0679CONICET DigitalCONICETenginfo:eu-repo/semantics/altIdentifier/url/http://ieeexplore.ieee.org/abstract/document/6450147/info:eu-repo/semantics/altIdentifier/doi/10.1109/TPWRS.2013.2239666info:eu-repo/semantics/openAccesshttps://creativecommons.org/licenses/by-nc-sa/2.5/ar/reponame:CONICET Digital (CONICET)instname:Consejo Nacional de Investigaciones Científicas y Técnicas2025-09-29T09:49:23Zoai:ri.conicet.gov.ar:11336/22907instacron:CONICETInstitucionalhttp://ri.conicet.gov.ar/Organismo científico-tecnológicoNo correspondehttp://ri.conicet.gov.ar/oai/requestdasensio@conicet.gov.ar; lcarlino@conicet.gov.arArgentinaNo correspondeNo correspondeNo correspondeopendoar:34982025-09-29 09:49:24.115CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicasfalse
dc.title.none.fl_str_mv Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
title Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
spellingShingle Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
Samper, Mauricio Eduardo
Distributed Generation
Epso
Distribution Planning
Expansion Decisions
Real Options
Risk Analysis
title_short Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
title_full Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
title_fullStr Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
title_full_unstemmed Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
title_sort Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation
dc.creator.none.fl_str_mv Samper, Mauricio Eduardo
Vargas, Alberto
author Samper, Mauricio Eduardo
author_facet Samper, Mauricio Eduardo
Vargas, Alberto
author_role author
author2 Vargas, Alberto
author2_role author
dc.subject.none.fl_str_mv Distributed Generation
Epso
Distribution Planning
Expansion Decisions
Real Options
Risk Analysis
topic Distributed Generation
Epso
Distribution Planning
Expansion Decisions
Real Options
Risk Analysis
purl_subject.fl_str_mv https://purl.org/becyt/ford/2.2
https://purl.org/becyt/ford/2
dc.description.none.fl_txt_mv Investment in distributed generation (DG) is an attractive distribution planning option for adding flexibility to an expansion plan, mainly by deferring network reinforcements. In this first part of a two-part paper, a risk-based optimization approach is proposed to model a multistage distribution expansion planning problem that takes DG into account as a flexible option to temporarily defer large network investments. Five features of the installation of DG related to location, size, type, operation and timing are all optimized. The evolutionary particle swarm optimization (EPSO) method is applied to solve this mixed integer nonlinear problem. A return-per-risk index is proposed to assess expansion investments. This index achieves an efficient synergy between the expected return and the risk of investments by performing Monte Carlo simulations. In turn, the flexibility of network investment deferral is assessed through a real option valuation. Finally, in order to quantify the investment deferral benefit, the expected return from a traditional expansion plan (without DG) is compared to the return obtained from a flexible expansion plan (with DG). In the companion paper, the proposed approach is tested on a typical Latin American distribution network; implementation aspects and analysis of numerical results are presented.
Fil: Samper, Mauricio Eduardo. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energia Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina
Fil: Vargas, Alberto. Consejo Nacional de Investigaciones Científicas y Técnicas. Centro Científico Tecnológico Conicet - San Juan. Instituto de Energia Eléctrica. Universidad Nacional de San Juan. Facultad de Ingeniería. Instituto de Energia Eléctrica; Argentina
description Investment in distributed generation (DG) is an attractive distribution planning option for adding flexibility to an expansion plan, mainly by deferring network reinforcements. In this first part of a two-part paper, a risk-based optimization approach is proposed to model a multistage distribution expansion planning problem that takes DG into account as a flexible option to temporarily defer large network investments. Five features of the installation of DG related to location, size, type, operation and timing are all optimized. The evolutionary particle swarm optimization (EPSO) method is applied to solve this mixed integer nonlinear problem. A return-per-risk index is proposed to assess expansion investments. This index achieves an efficient synergy between the expected return and the risk of investments by performing Monte Carlo simulations. In turn, the flexibility of network investment deferral is assessed through a real option valuation. Finally, in order to quantify the investment deferral benefit, the expected return from a traditional expansion plan (without DG) is compared to the return obtained from a flexible expansion plan (with DG). In the companion paper, the proposed approach is tested on a typical Latin American distribution network; implementation aspects and analysis of numerical results are presented.
publishDate 2013
dc.date.none.fl_str_mv 2013-08
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
http://purl.org/coar/resource_type/c_6501
info:ar-repo/semantics/articulo
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/11336/22907
Samper, Mauricio Eduardo; Vargas, Alberto; Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation; Institute of Electrical and Electronics Engineers; Ieee Transactions On Power Systems; 28; 3; 8-2013; 2331-2340
0885-8950
1558-0679
CONICET Digital
CONICET
url http://hdl.handle.net/11336/22907
identifier_str_mv Samper, Mauricio Eduardo; Vargas, Alberto; Investment decisions in distribution networks under uncertainty with distributed generation-part I: Model formulation; Institute of Electrical and Electronics Engineers; Ieee Transactions On Power Systems; 28; 3; 8-2013; 2331-2340
0885-8950
1558-0679
CONICET Digital
CONICET
dc.language.none.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv info:eu-repo/semantics/altIdentifier/url/http://ieeexplore.ieee.org/abstract/document/6450147/
info:eu-repo/semantics/altIdentifier/doi/10.1109/TPWRS.2013.2239666
dc.rights.none.fl_str_mv info:eu-repo/semantics/openAccess
https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
eu_rights_str_mv openAccess
rights_invalid_str_mv https://creativecommons.org/licenses/by-nc-sa/2.5/ar/
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.publisher.none.fl_str_mv Institute of Electrical and Electronics Engineers
publisher.none.fl_str_mv Institute of Electrical and Electronics Engineers
dc.source.none.fl_str_mv reponame:CONICET Digital (CONICET)
instname:Consejo Nacional de Investigaciones Científicas y Técnicas
reponame_str CONICET Digital (CONICET)
collection CONICET Digital (CONICET)
instname_str Consejo Nacional de Investigaciones Científicas y Técnicas
repository.name.fl_str_mv CONICET Digital (CONICET) - Consejo Nacional de Investigaciones Científicas y Técnicas
repository.mail.fl_str_mv dasensio@conicet.gov.ar; lcarlino@conicet.gov.ar
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score 13.069144

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