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Quantitative Evaluation of the Feasibility of Meeting Emission Targets with a Chance Constrained Energy System Model

Title
Quantitative Evaluation of the Feasibility of Meeting Emission Targets with a Chance Constrained Energy System Model
Authors
KIM, HANSUNGHYUNGKYU, CHEONDAEHO, KIMCHOI, DONG GU
Date Issued
23-Oct-2019
Publisher
INFORMS (국제경영과학회)
Abstract
Recently, researchers have incorporated uncertainties into energy system models with stochastic programming-based models. Most studies focused on meeting greenhouse gas (GHG) reduction targets considering various uncertainties. However, meeting targets leads to dramatic cost increases. At the same time, there is a risk to fail to meet the targets if enough uncertainties are not considered. Therefore, it is important to find a balance between cost and risk. In this study, we define the risk as to the feasibility of meeting GHG reduction targets and evaluate the risk by using a chance-constrained model. We apply the model to South Korea and analyze the trade-off between total cost and the risk.
URI
http://oasis.postech.ac.kr/handle/2014.oak/100604
Article Type
Conference
Citation
2019 INFORMS Annual Meeting, 2019-10-23
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 CHOI, DONG GU
Dept of Industrial & Management Enginrg
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