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A Novel Mixed Integer Programming Formulation for Selecting the Best Renewable Energies to Invest: A Fuzzy Goal Programming Approach

A Novel Mixed Integer Programming Formulation for Selecting the Best Renewable Energies to Invest: A Fuzzy Goal Programming Approach

Masoud Rabbani, Mahsa Ghanbarpour Mamaghani, Amir Farshbaf-Geranmayeh, Mahsa Mirzayi
Copyright: © 2016 |Volume: 7 |Issue: 3 |Pages: 22
ISSN: 1947-9328|EISSN: 1947-9336|EISBN13: 9781466691308|DOI: 10.4018/IJORIS.2016070101
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MLA

Rabbani, Masoud, et al. "A Novel Mixed Integer Programming Formulation for Selecting the Best Renewable Energies to Invest: A Fuzzy Goal Programming Approach." IJORIS vol.7, no.3 2016: pp.1-22. http://doi.org/10.4018/IJORIS.2016070101

APA

Rabbani, M., Mamaghani, M. G., Farshbaf-Geranmayeh, A., & Mirzayi, M. (2016). A Novel Mixed Integer Programming Formulation for Selecting the Best Renewable Energies to Invest: A Fuzzy Goal Programming Approach. International Journal of Operations Research and Information Systems (IJORIS), 7(3), 1-22. http://doi.org/10.4018/IJORIS.2016070101

Chicago

Rabbani, Masoud, et al. "A Novel Mixed Integer Programming Formulation for Selecting the Best Renewable Energies to Invest: A Fuzzy Goal Programming Approach," International Journal of Operations Research and Information Systems (IJORIS) 7, no.3: 1-22. http://doi.org/10.4018/IJORIS.2016070101

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Abstract

The governments seeking to invest renewable energies for electrifying far spots and/or isolated islands are always confronted with the problem of selecting the best energy (portfolio of energies) technology. To reach the optimum decision, they must take into account a variety of criteria including technical, economic, environmental and social aspects at the same time. Therefore, the main objective of this study is to address the mentioned concern by developing a multi objective mixed integer programming formulation that not only takes into account the above criteria with a focus on tax, depreciation costs and time value of money, but also optimizes a set of objective functions simultaneously. Furthermore, to model the intrinsic uncertainty of some parameters like demand and budget, a fuzzy goal programming approach is applied. In order to demonstrate the applicability of the model, a numerical example, based on the data obtained from the literature, is developed. The results indicate that, for the given conditions, hydro and PV are superior to their counterparts.

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