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A Scenario-Based St...
A Scenario-Based Stochastic Programming Model for the Optimization of Process Integration Opportunities in a Pulp Mill
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- Svensson, Elin, 1980 (författare)
- Chalmers tekniska högskola,Chalmers University of Technology
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- Strömberg, Ann-Brith, 1961 (författare)
- Gothenburg University,Göteborgs universitet,Institutionen för matematiska vetenskaper, matematik,Department of Mathematical Sciences, Mathematics,Chalmers tekniska högskola,Chalmers University of Technology,University of Gothenburg
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- Patriksson, Michael, 1964 (författare)
- Gothenburg University,Göteborgs universitet,Institutionen för matematiska vetenskaper, matematik,Department of Mathematical Sciences, Mathematics,University of Gothenburg,Chalmers tekniska högskola,Chalmers University of Technology
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(creator_code:org_t)
- 2008
- Engelska.
- Relaterad länk:
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Abstract
Ämnesord
Stäng
- Several studies show that substantial industrial energy savings can be achieved through process integration. The returns on such investments are, however, uncertain because of uncertainties in future energy prices and policies. This article presents a stochastic mixed-integer programming approach which enables the identification of robust process integration investments under uncertainty. The proposed approach is applied to the case of a pulp mill for which the complete optimization model is presented. The model is a scenario-based multistage stochastic programming model with the objective of maximizing the net present value of the investments. The model also enables the optimization of investment timing. We show as one important result that the probability distribution can be varied rather much without a change in the optimal solution. This implies that the stochastic programming approach is a valuable tool although the true probabilities for the future scenarios are not known.
Ämnesord
- TEKNIK OCH TEKNOLOGIER -- Maskinteknik -- Annan maskinteknik (hsv//swe)
- ENGINEERING AND TECHNOLOGY -- Mechanical Engineering -- Other Mechanical Engineering (hsv//eng)
- TEKNIK OCH TEKNOLOGIER -- Maskinteknik -- Energiteknik (hsv//swe)
- ENGINEERING AND TECHNOLOGY -- Mechanical Engineering -- Energy Engineering (hsv//eng)
- NATURVETENSKAP -- Matematik -- Beräkningsmatematik (hsv//swe)
- NATURAL SCIENCES -- Mathematics -- Computational Mathematics (hsv//eng)
- TEKNIK OCH TEKNOLOGIER -- Materialteknik -- Pappers-, massa- och fiberteknik (hsv//swe)
- ENGINEERING AND TECHNOLOGY -- Materials Engineering -- Paper, Pulp and Fiber Technology (hsv//eng)
Nyckelord
- investment analysis
- multistage stochastic programming
- scenarios
- decision support analysis
- process integration
- process integration
Publikations- och innehållstyp
- vet (ämneskategori)
- ovr (ämneskategori)