The optimization determines the net present cost to be $345,481 and the levelized cost of electricity to be $0.181/kWh.
The common purpose of both methods is the optimization of the net power output for heat source temperatures lower and higher than the reference plant.
Briefly, Table 1 compares the reservoir simulators, optimization methods, and the net present values optimized in Year 10.
The objective function of the single-objective optimization strategy is the net electrical efficiency of the micro-CHP system.
To take advantage of this fact, we consider an alternative mass-variable mass-target (MVMT-OBR) formulation in which the optimization variables are the net mass updates per cell and a single linear constraint enforces the conservation of mass.
This paper presents an optimization study of the net present value of a biomass-to-ethanol supply chain in a 9-state region in the Midwestern United States.
The system-based optimization which takes the net work output as the objective function, sometimes weakens the performance of heat exchanger as an individual, but improves the performance of the Brayton cycle system significantly.
The problem is formulated as a bi-criterion optimization model that maximizes the net present value and minimizes the expected lead time.
When the design of these systems is carried out, it is usually done resolve an optimization problem in which the Net Present Cost (NPC) is minimized or, in some cases, in relation to the Levelized Cost of Energy (LCE).
In this paper we defined a relatively complex reservoir engineering optimization problem of maximizing the net present value of the hydrocarbon production in a water flooding process by controlling the water injection rates in multiple control periods.
