The electric power source structure optimization based on capital investment efficiency

Abstract

In this paper, a novel electric power source structure optimization (EPSSO) scheme is proposed to achieve the sustainable development objectives of economic growth, electricity demand and environmental protection. Different from power generation expansion planning (PGEP), the proposed EPSSO method evaluates the optimal investment scheme for a long-term power generation expansion from the viewpoints of macro-economy. By adjusting the proportion of renewable power generating units at a more appropriate time, it can promote the efficiency of national capital with the constraint of CO2 emissions. The basic idea of this method is to combine the conventional objective function with the capital efficiency which is often used as a repressor of economic growth. At last, the genetic algorithm (GA) is used to solve the highly nonlinear combinatorial problem of EPSSO and a numerical case is present to demonstrate the feasibility of this scheme based on the background of China.