A risk-averse approach for the planning of a hybrid energy system with conventional hydropower

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buir.contributor.authorÇavuş, Özlem
buir.contributor.authorKocaman, Ayşe Selin
buir.contributor.authorYılmaz, Özlem
buir.contributor.orcidKocaman, Ayşe Selin|0000-0001-8345-5999
dc.citation.epage105092-15en_US
dc.citation.spage105092-1en_US
dc.citation.volumeNumber126en_US
dc.contributor.authorÇavuş, Özlem
dc.contributor.authorKocaman, Ayşe Selin
dc.contributor.authorYılmaz, Özlem
dc.date.accessioned2022-02-02T10:04:05Z
dc.date.available2022-02-02T10:04:05Z
dc.date.issued2021-02
dc.departmentDepartment of Industrial Engineeringen_US
dc.description.abstractWe present a risk-averse two-stage stochastic programming model for the planning of a hybrid energy system with conventional hydropower component. Using Conditional Value-at-Risk as our measure of risk-aversion, we take into consideration the dispersion of the random total cost arising due to uncertain streamflow amount. We propose an exact solution approach based on scenario decomposition to solve our large scale problem. We then present a case study for the Mediterranean Region in Turkey and gen erate scenarios using a modified k-nearest neighbor algorithm for bootstrapping the historical time series data of Manavgat River. The results of our computational study show how an optimal solution differs based on the degree of risk-aversion and demonstrate the computational power of our solution approach. Our algorithm is able to solve instances that cannot be solved by CPLEX, furthermore, CPLEX requires 5.84 times more computation time than our algorithm.en_US
dc.description.provenanceSubmitted by Samet Emre (samet.emre@bilkent.edu.tr) on 2022-02-02T10:04:05Z No. of bitstreams: 1 A_risk-averse_approach_for_the_planning_of_a_hybrid_energy_system_with_conventional_hydropower.pdf: 2715220 bytes, checksum: 4ae872034959e4c0f8860a5a4a708291 (MD5)en
dc.description.provenanceMade available in DSpace on 2022-02-02T10:04:05Z (GMT). No. of bitstreams: 1 A_risk-averse_approach_for_the_planning_of_a_hybrid_energy_system_with_conventional_hydropower.pdf: 2715220 bytes, checksum: 4ae872034959e4c0f8860a5a4a708291 (MD5) Previous issue date: 2021-02en
dc.embargo.release2024-02-29
dc.identifier.doi10.1016/j.cor.2020.105092en_US
dc.identifier.issn0305-0548
dc.identifier.urihttp://hdl.handle.net/11693/76962
dc.language.isoEnglishen_US
dc.publisherElsevier BVen_US
dc.relation.isversionofhttps://doi.org/10.1016/j.cor.2020.105092en_US
dc.source.titleComputers & Operations Researchen_US
dc.subjectHybrid energy systemen_US
dc.subjectHydropoweren_US
dc.subjectRisk-averse two-stage stochastic programmingen_US
dc.subjectConditional value-at-risken_US
dc.subjectScenario decompositionen_US
dc.subjectBootstrappingen_US
dc.titleA risk-averse approach for the planning of a hybrid energy system with conventional hydropoweren_US
dc.typeArticleen_US

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