Multi-objective capacity optimization of a hybrid energy system in two-stage stochastic programming framework

Hybrid energy system is one main mean to deal with the energy crisis and its capacity optimization is a key to obtain an economical and reliable supply of energy. In this paper, the capacity optimization of a novel hybrid system composed of wind turbine, concentrated solar plant and electric heater is modeled as a multi-objective two-stage stochastic problem, where capacity optimization minimizing the life cycle cost (LCC) and energy management strategy optimization minimizing the loss of power supply probability (LPSP) are integrated. The scenario-based approach is applied to reflect the random characteristics of wind and solar resources. The Pareto set of the problem is obtained by non-dominated sorting genetic algorithm (NSGA-II), whose effectiveness is validated by algorithm comparisons with multi-objective particle swarm optimization (MOPSO) and multi-objective evolutionary algorithm based on decomposition (MOEA/D). Furthermore, techno-economic comparisons with a reference hybrid energy system without electric heater are performed to investigate economic benefits of the electric heater. The comparison results show that the electric heater is beneficial for a lower LCC which is reduced by 1.21%, 1.34%, 1.68%, 3.14%, 4.94% and 4.55% respectively when the LPSP is 0%, 1%, 2%, 3%, 4% and 5%. (C) 2021 The Author(s). Published by Elsevier Ltd.