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Presentation
A multi-stage optimization model for flexibility in engineering design
IISE Annual Conference and Expo 2019
  • Ramin Giahi, Iowa State University
  • Cameron A. MacKenzie, Iowa State University
  • Chao Hu, Iowa State University
Document Type
Conference Proceeding
Publication Version
Published Version
Publication Date
1-1-2019
Conference Title
IISE Annual Conference and Expo
Conference Date
May 18-21, 2019
Geolocation
(28.5383355, -81.37923649999999)
Abstract

Engineered systems often operate in uncertain environments. Understanding different environments under which a system will operate is important in engineering design. Thus, there is a need to design systems with the capability to respond to future changes. This research explores designing a hybrid renewable energy system while taking into account long-range uncertainties of 20 years. The objective is to minimize the expected cost of the hybrid renewable energy system over the next 20 years. A design solution may be flexible, which means that the design can be adapted or modified to meet different scenarios in the future. The value of flexibility can be measured by comparing the expected cost without flexibility and expected cost with flexibility. The results show that a flexible design for hybrid renewable systems can decrease the expected cost by approximately 30%.

Comments

This proceeding is published as Giahi, Ramin, Cameron A. MacKenzie, and Chao Hu. "A multi-stage optimization model for flexibility in engineering design." IISE Annual Conference and Expo 2019. Proceedings of a meeting held May 18-21, 2019, Orlando, Florida, USA. Posted with permission.

Copyright Owner
Institute of Industrial and Systems Engineers
Language
en
File Format
application/pdf
Citation Information
Ramin Giahi, Cameron A. MacKenzie and Chao Hu. "A multi-stage optimization model for flexibility in engineering design" Orlando, FLIISE Annual Conference and Expo 2019 (2019)
Available at: http://works.bepress.com/cameron_mackenzie/51/