Generation expansion planning (also known as GEP) is finding an optimal solution for the planning problem in which the installation of new generation units satisfies both technical and financial limits.Kazemi, Hamidreza Moayed, Sahand Ghaseminejad Liasi, and Mohammadkazem Sheikh-El-Eslami
"Generation Expansion Planning Considering Investment Dynamic of Market Participants Using Multi-agent System."
In 2018 Smart Grid Conference (SGC), pp. 1-6. IEEE, 2018. GEP is a challenging problem because of the large scale, long-term and

nonlinear In mathematics and science, a nonlinear system is a system in which the change of the output is not proportional to the change of the input. Nonlinear problems are of interest to engineers, biologists, physicists, mathematicians, and many oth ...

nature of generation unit size. Due to lack of information, companies have to solve this problem in a risky environment because the competition between generation companies for maximizing their benefit make them to conceal their strategies. Under such an ambiguous condition, various nonlinear solutions have been proposed to solve this sophisticated problem.Park, Jong-Bae, Young-Moon Park, Jong-Ryul Won, and Kwang Y. Lee
improved genetic algorithm for generation expansion planning."
IEEE Transactions on Power Systems 15, no. 3 (2000): 916-922. These solutions are based on different strategies including:

game theory Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has appli ...

, two-level game model,V. Nanduri, T. K. Das and P. Rocha, "Generation capacity expansion in energy markets using a two-level game-theoretic model," IEEE trans. power sys, vol.24, no.3, pp.1165,1172, 2009.

multi-agent system A multi-agent system (MAS or "self-organized system") is a computerized system composed of multiple interacting intelligent agents.Hu, J.; Bhowmick, P.; Jang, I.; Arvin, F.; Lanzon, A.,A Decentralized Cluster Formation Containment Framework fo ...

genetic algorithm In computer science and operations research, a genetic algorithm (GA) is a metaheuristic inspired by the process of natural selection that belongs to the larger class of evolutionary algorithms (EA). Genetic algorithms are commonly used to ge ...

, particle swarm optimizationKannan, S., S. Mary Raja Slochanal, P. Subbaraj, and Narayana Prasad Padhy. "Application of particle swarm optimization technique and its variants to generation expansion planning problem." Electric Power Systems Research 70, no. 3 (2004): 203-210. and so forth.

References

{{reflist, 2 Electric power generation Planning Power engineering

See also

References