Excited to share a new paper!
We find that renewable subsidies may cost less than often thought because subsidies can correct a market failure that is often ignored. Same applies to CO2 pricing.
Open access: findingspress.org/article/9499...
In the future, we intend to include further refinements like on-demand accuracy and cut generation. The setup can also be extended to abandon the perfect foresight assumption within a year, study long-term dynamics of long-duration storage or to represent endogenous learning. 10/10
Using stabilization and parallelization, the algorithm scales well with the number of weather years. In our tests, the reference configurations consistently outperform Gurobi from 8 weather years, for some cherry-picked configurations already at 2 weather years. 9/10
Second, the structure of the decomposed problem allows solving the scenarios in parallel. Some overhead remains but the speed-up usually amounts to half the number of scenarios, e.g. four times faster for eight weather years relative to solving the scenarios sequentially. 8/10
By robust and implementable, we not only mean the complexity of coding the algorithm but also a low sensitivity to hyperparameter tuning, which can prove quite tricky and have a major effect on performance. 7/10
First, stabilization limits the step size of the algorithm preventing oscillation. We find that the most robust and implementable approaches for this problem are linear/quadratic trust regions (ex. shown below for 3 dimensions) improving performance by a factor of 10 to 20. 6/10
Yet, the standard Benders converges slowly, and commercial solvers can still solve the original linear program faster by a factor of 100. Hence, we scoured the convex optimization literature for refinements to speed up the algorithm. I focus on the two most effective ones: 5/10
We split this linear optimization problem into an expansion part and independent operational parts, one for each weather year to avoid a single unsolvable big problem. Benders decomposition then iteratively solves the individual problems, converging to the optimal solution. 4/10
The algorithm solves a two-stage stochastic problem. The first stage covers capacity expansion; the second operation for different scenarios representing weather years. The setup includes short- and long-duration storage — critical for systems with high shares of renewables. 3/10
Our new European Journal of Operational Research paper adopts and compares various refinements to a Benders Decomposition algorithm to find a fast and implementable way of accounting for climate uncertainty by including many weather years. 2/10
🚨New publication 🚨
How to deal with high inter-annual variation of renewable feed-in in sector-coupled energy planning when including multiple years of data in large-scale models is usually intractable?
doi.org/10.1016/j.ej...
@anygoeke.bsky.social & Mario Kendziorski
1/ COP 28 calls for a massive expansion of renewables and low-carbon vehicles & hydrogen. How do 🇩🇪's plans fit in with this?
@aroth.bsky.social, @adelinegueret.bsky.social, @fsschmidt.bsky.social and I just published an English version of our @diw.de assessment on how the Energiewende is going.
🎧Podcast-Tipp: Seit Dezember 2021 ist die Ampel-Koalition im Amt. Wie sieht die Halbzeitbilanz bei der Energiewende aus? @wpschill.bsky.social & @aroth.bsky.social sehen in einzelnen Bereichen gute Fortschritte, in anderen klaffen große Lücken zwischen Ist- & Sollzustand.
1/ Halbzeit für die Ampel! Also, falls sie bis zum Ende durchhält. Wie steht es nach zwei Jahren 🚦 um die Energiewende? @aroth.bsky.social, @adelinegueret.bsky.social, @fsschmidt.bsky.social & ich haben aus diesem Anlass ein kleines Special zum Ampel-Monitor Energiewende des @diw.de veröffentlicht.
Installierte (elektr.) Leistung von Elektrolyseuren in Deutschland: Stand heute, Ziele und geplante Projekte nach Status
1/🚨Update im @diw.de Ampel-Monitor Energiewende: jetzt mit neuen IEA-Daten zur Elektrolyse!
Ziel der 🚦 ist eine elektr. Leistung von 10 Gigawatt 2030. Derzeit haben wir erst rund 80 Megawatt in Betrieb - d.h. kaum mehr als zum Ampel-Start, und nicht mal 1% des 2030-Ziels. www.diw.de/de/diw_01.c....