Multi objective power mix optimization

Abstract

The EU for the sustainable energy generation made some directives related the raise of the renewable ratio in the energy mix portfolio. E.g. Hungary must generate 13% of the electrical energy on renewable base in 2020. The actual energy prices do not represent the future external society costs of the environment pollution, damage and climate change. The reduction of the CO2 emission, the lowest external cost solution is not the short term cheapest solution. In this paper we use Single Objective Optimization technique to demonstrate that the energy strategy can be based on clear scientific considerations instead of political approach. We find that the real energy portfolio can be planned by Multi Objective Optimization techniques.