Quantitative Evaluation of the Feasibility of Meeting Emission Targets with a Chance Constrained Energy System Model
- Quantitative Evaluation of the Feasibility of Meeting Emission Targets with a Chance Constrained Energy System Model
- KIM, HANSUNG; HYUNGKYU, CHEON; DAEHO, KIM; CHOI, DONG GU
- Date Issued
- INFORMS (국제경영과학회)
- 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.
- Article Type
- 2019 INFORMS Annual Meeting, 2019-10-23
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