Benefits of using an optimization methodology for identifying robust process integration investments under uncertainty - A pulp mill example

Svensson, Elin,1980Chalmers tekniska högskola,Chalmers University of Technology (author)

This paper presents a case study on the optimization of process integration investments in a pulp mill considering uncertainties in future electricity and biofuel prices and CO2 emissions charges. The work follows the methodology described in Svensson et al. [Svensson, E., Berntsson, T., Strömberg, A.-B., Patriksson, M., 2008b. An optimization methodology for identifying robust process integration investments under uncertainty. Accepted for publication in EnergyPolicy] where a scenario-based approach is proposed for the modelling of uncertainties. The results show that the proposed methodology provides a way to handle the time dependence and the uncertainties of the parameters. For the analyzed case, a robust solution is found which turns out to be a combination of two opposing investment strategies. The difference between short-term and strategic views for the investment decision is analyzed and it is found that uncertainties are increasingly important to account for as a more strategic view is employed. Furthermore, the results imply that the obvious effect of policy instruments aimed at decreasing CO2 emissions is, in applications like this, an increased profitability for all energy efficiency investments, and not as much a shift between different alternatives.

Berntsson, Thore,1947Chalmers tekniska högskola,Chalmers University of Technology(Swepub:cth)thore (author)
Strömberg, Ann-Brith,1961Gothenburg University,Göteborgs universitet,Institutionen för matematiska vetenskaper, matematik,Department of Mathematical Sciences, Mathematics,University of Gothenburg,Chalmers tekniska högskola,Chalmers University of Technology(Swepub:cth)anstr (author)
Chalmers tekniska högskolaInstitutionen för matematiska vetenskaper, matematik (creator_code:org_t)

By the author/editor: Svensson, Elin, ...; Berntsson, Thore ...; Strömberg, Ann-B ...

About the subject

NATURAL SCIENCES: NATURAL SCIENCES; and Mathematics; and Computational Ma ...

ENGINEERING AND TECHNOLOGY: ENGINEERING AND ...; and Mechanical Engin ...; and Energy Engineeri ...

ENGINEERING AND TECHNOLOGY: ENGINEERING AND ...; and Mechanical Engin ...; and Other Mechanical ...

ENGINEERING AND TECHNOLOGY: ENGINEERING AND ...; and Materials Engine ...; and Paper Pulp and F ...

By the university: University of Gothenburg; Chalmers University of Technology

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