Optimization for Renewable Energy Resource Allocation Using Linear Programming (A case Study)
Author:
Marwan Othman Ghabban(1),
Abdulmajeed Hussain Marzouq(2),
Yazeed Abdalrhman Alsughayyir(3),
Ahmed Mohammed Alesayi(4)
Abstract: This case study aims to examines using a linear programming technique on how to distribute a scarce €500,000 on four projects in renewable energy. The goal here is the overall energy production with some constraints that include but are not limited to financial capacity, minimum threshold in single project investment, and environmental impact. This analysis presents the resource allocation and energy output derived from the solution of this linear programming problem by Excel Solver, the effects of constraints involved, the ensuing financial scores and the sustainability analysis, to reach the outcome of identifying efficient resource distribution that would allow maximum energy production, given the budget constraint. The output efficient decision of this case study was of course aimed to correspond to the capabilities of the sources in regard to the used Euro in order to produce as much energy as possible but also in terms of ecology the proper use of Solar and Wind energy was the best option, Theoretical optimal investments in hydropower were excluded mainly because of their high costs and low densities of energy. This approach can therefore be used as a reference by other company and industries especially those with many objectives when undertaking renewable energy investments or any other Multi-objective decision problems. Keywords: Renewable Energy, Resource Allocation, Linear Programming, Optimization Download PDF
|
|
Academic Journal of Research and Scientific Publishing
doi.org/10.52132/Ajrsp.e.2024.67.4 