Economical Optimization of Capacity and Operational Strategy for Combined Heat and Power Systems
Subject Areas : electrical and computer engineering
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Keywords: Particle swarm optimization (PSO) net present value (NPV) combined heat and power (CHP),
Abstract :
An optimization method has been developed to determine the optimal capacities for the CHP and boiler such that thermal and electrical energy demands can be satisfied with high cost efficiency. The proposed method offers an operational strategy in order to determine the optimum value for boiler and CHP capacities which maximize an objective function based on the net present value (NPV). The reduction in operational strategy expenses arising from the monetary cost of the credit attainable by air pollution reduction is also taken into account in evaluation of the objective function. The optimal value for boiler and CHP capacities and the resulting projection for the optimal value of the objective function are derived using a hybrid optimization method involving the particle swarm optimization (PSO) and the linear programming algorithms. The viability of the proposed method is demonstrated by analyzing the decision to construct a CHP system for a typical hospital.
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