Energy conversion/Description: Difference between revisions
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==Decisions to invest in specific options == | ==Decisions to invest in specific options == | ||
In the following step, a decision is made to invest in different generation technologies. In the model, this is done on the basis of the price of electricity (in | In the following step, a decision is made to invest in different generation technologies. In the model, this is done on the basis of the price of electricity (in [[HasAcronym::USD/kWhe]]) produced per technology, using a multinomial logit equation that assigns larger market shares to the lower cost options. The specific costs of each option is broken down into a number of categories: investment or capital costs (USD/kWe), fuel costs ([[HasAcronym::USD/GJ]]), operational and maintenance costs (OM) and other costs (see further). An exception is hydropower capacity, which is exogenously prescribed, because large hydropower plants often have functions other than only electricity production (e.g. water supply and flood control). In the equations, some constraints are added to account for limitations in supply (e.g. restrictions on biomass availability). The investments needed for each option are given in the form of total investment in new generation capacity and the share of each individual technology (determined on the basis of price and preference). | ||
==Operational strategy == | ==Operational strategy == | ||
Revision as of 16:29, 16 December 2013
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