Abstract
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Article Information:
Stochastic Placement and Sizing of Combined Heat and Power Systems Considering Cost/Benefit Analysis
S. Mehrdad Hosseini, Gholamreza Koohsari, M. Mahdi Zarif and D.B. Hossein Javidi
Corresponding Author: S. Mehrdad Husseini
Submitted: May 11, 2012
Accepted: June 23, 2012
Published: January 11, 2013 |
Abstract:
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This study presents a cost/worth analysis approach for optimal Placement and sizing of Combined Heat
and Power (CHP) systems. Particle Swarm Optimization (PSO) as a powerful optimization technique is employed
for optimization. Different benefits brought up by CHP systems are taken into account as a multi-objective decision
making. Economical factors such as power and heat selling, reliability improvement, loss reduction, deferred
upgrading investment and CHP costs are considered in this study. In order to incorporate stochastic nature of power
system in this study, Monte-Carlo method is used to simulate the effect of uncertainty of loads and system on the
optimal location and size of the CHPs in the network. This study conducts two separate case studies, 6-bus meshed
test system and 14-bus radial test system to demonstrate economical feasibility for investment planning when cost
and CHP benefits are taken into account. The impacts of considering different parameters such as the rate of load
growth and interest are studied. Results indicate that the proposed methodology is capable of finding the best
location and the optimal size of CHP that can cause improvement in network operation along with financial benefits
Key words: Combined heat and power systems, cost/worth analysis, loss reduction, Monte-Carlo, reliability, ,
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Cite this Reference:
S. Mehrdad Hosseini, Gholamreza Koohsari, M. Mahdi Zarif and D.B. Hossein Javidi, . Stochastic Placement and Sizing of Combined Heat and Power Systems Considering Cost/Benefit Analysis. Research Journal of Applied Sciences, Engineering and Technology, (02): 498-506.
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ISSN (Online): 2040-7467
ISSN (Print): 2040-7459 |
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