A comprehensive sequential review study through the generation expansion planning

The generation expansion planning (GEP) problem involves the determination of types, location and construction time of new generation technologies which should be added to the existing system in order to meet the growing demand over a planning horizon. It is a vital issue due to electricity-dependent aspect of everyday life as well as most production and service systems in society. Over the past few decades, the GEP has experienced multifarious changes resulting in emerging a multitude of new models and solving methods. In this context, many studies have been carried out to achieve optimal expansion strategies with respect to the different energy-related issues, such as electricity market, uncertainties, low carbon economy requirements, distributed generation, renewable sources, energy policies, demand-side programs, and so on. In pursuance of finding out further research ideas in the field of GEP and identify less-addressed areas, a need for a comprehensive review of accomplished studies has been felt. By reviewing almost all aspects that have been considered in the GEP as yet, the present paper provides a detailed classification of a large number of done GEP studies. Reviewing results provide useful insights into the future of GEP research activities.