MGA method budget constraint - investment cost

Question

MGA method budget constraint - investment cost

rowry38 opened this issue 2 months ago · comments

Question

For the MGA method that allows slack from the least cost solution, is there a way to constrain investment cost to a specific annualised value? Then the difference to meet the load will be made up from dispatchable fuel costs, or in extreme situations, load shedding.

Additional context

No response

ml6802 · Answer 1 · Thu Jun 13 2024 23:21:38 GMT+0800 (China Standard Time)

We do not currently have that functionality included. However, it shouldn't be difficult to add. What are you trying to do? Are you looking to supplement the current overall budget constraint with a specific investment cost budget? Or to remove the overall cost budget and specifically use only an investment cost constraint?

rowry38 · Answer 2 · Fri Jun 14 2024 06:34:52 GMT+0800 (China Standard Time)

It would be the latter where there is a specific investment cost ceiling but the total budget can vary within the level of slack.So the MGA would essentially start with the least cost solution but explore the solution space as the investment cost is constrained up to the level of total cost slack. Fundamentally this may be a different solution so not really what the MGA is designed to do. Alternatively if it is easy enough to constrain the objective function with an investment constraint then this may be better. From there the MGA can be run to explore the different portfolio options that maintain the investment constraint but have slack in the total costs. On 13 Jun 2024, at 11:22 PM, ml6802 ***@***.***> wrote: We do not currently have that functionality included. However, it shouldn't be difficult to add. What are you trying to do? Are you looking to supplement the current overall budget constraint with a specific investment cost budget? Or to remove the overall cost budget and specifically use only an investment cost constraint? —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***>

ml6802 · Answer 3 · Fri Jun 14 2024 06:53:00 GMT+0800 (China Standard Time)

What are you trying to achieve by doing this?On Jun 13, 2024, at 18:35, rowry38 ***@***.***> wrote: It would be the latter where there is a specific investment cost ceiling but the total budget can vary within the level of slack.So the MGA would essentially start with the least cost solution but explore the solution space as the investment cost is constrained up to the level of total cost slack. Fundamentally this may be a different solution so not really what the MGA is designed to do. Alternatively if it is easy enough to constrain the objective function with an investment constraint then this may be better. From there the MGA can be run to explore the different portfolio options that maintain the investment constraint but have slack in the total costs. On 13 Jun 2024, at 11:22 PM, ml6802 ***@***.***> wrote: We do not currently have that functionality included. However, it shouldn't be difficult to add. What are you trying to do? Are you looking to supplement the current overall budget constraint with a specific investment cost budget? Or to remove the overall cost budget and specifically use only an investment cost constraint? —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you commented.Message ID: ***@***.***>

rowry38 · Answer 4 · Fri Jun 14 2024 07:42:22 GMT+0800 (China Standard Time)

To understand the impact of investment constraints on a system for a given discount rate, VOLL, emission constraint and demand. On 14 Jun 2024, at 6:53 AM, ml6802 ***@***.***> wrote: What are you trying to achieve by doing this?On Jun 13, 2024, at 18:35, rowry38 ***@***.***> wrote: It would be the latter where there is a specific investment cost ceiling but the total budget can vary within the level of slack.So the MGA would essentially start with the least cost solution but explore the solution space as the investment cost is constrained up to the level of total cost slack. Fundamentally this may be a different solution so not really what the MGA is designed to do. Alternatively if it is easy enough to constrain the objective function with an investment constraint then this may be better. From there the MGA can be run to explore the different portfolio options that maintain the investment constraint but have slack in the total costs. On 13 Jun 2024, at 11:22 PM, ml6802 ***@***.***> wrote: We do not currently have that functionality included. However, it shouldn't be difficult to add. What are you trying to do? Are you looking to supplement the current overall budget constraint with a specific investment cost budget? Or to remove the overall cost budget and specifically use only an investment cost constraint? —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you commented.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***>

ml6802 · Answer 5 · Fri Jun 14 2024 08:02:50 GMT+0800 (China Standard Time)

Are you assuming a least-cost dispatch system? And are you looking to explore the feasible space generally or do you have specific objectives in mind?On Jun 13, 2024, at 19:42, rowry38 ***@***.***> wrote: To understand the impact of investment constraints on a system for a given discount rate, VOLL, emission constraint and demand. On 14 Jun 2024, at 6:53 AM, ml6802 ***@***.***> wrote: What are you trying to achieve by doing this?On Jun 13, 2024, at 18:35, rowry38 ***@***.***> wrote: It would be the latter where there is a specific investment cost ceiling but the total budget can vary within the level of slack.So the MGA would essentially start with the least cost solution but explore the solution space as the investment cost is constrained up to the level of total cost slack. Fundamentally this may be a different solution so not really what the MGA is designed to do. Alternatively if it is easy enough to constrain the objective function with an investment constraint then this may be better. From there the MGA can be run to explore the different portfolio options that maintain the investment constraint but have slack in the total costs. On 13 Jun 2024, at 11:22 PM, ml6802 ***@***.***> wrote: We do not currently have that functionality included. However, it shouldn't be difficult to add. What are you trying to do? Are you looking to supplement the current overall budget constraint with a specific investment cost budget? Or to remove the overall cost budget and specifically use only an investment cost constraint? —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you commented.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you commented.Message ID: ***@***.***>

rowry38 · Answer 6 · Fri Jun 14 2024 08:40:15 GMT+0800 (China Standard Time)

Least cost dispatch yes and to explore the feasible space. On 14 Jun 2024, at 8:03 AM, ml6802 ***@***.***> wrote: Are you assuming a least-cost dispatch system? And are you looking to explore the feasible space generally or do you have specific objectives in mind?On Jun 13, 2024, at 19:42, rowry38 ***@***.***> wrote: To understand the impact of investment constraints on a system for a given discount rate, VOLL, emission constraint and demand. On 14 Jun 2024, at 6:53 AM, ml6802 ***@***.***> wrote: What are you trying to achieve by doing this?On Jun 13, 2024, at 18:35, rowry38 ***@***.***> wrote: It would be the latter where there is a specific investment cost ceiling but the total budget can vary within the level of slack.So the MGA would essentially start with the least cost solution but explore the solution space as the investment cost is constrained up to the level of total cost slack. Fundamentally this may be a different solution so not really what the MGA is designed to do. Alternatively if it is easy enough to constrain the objective function with an investment constraint then this may be better. From there the MGA can be run to explore the different portfolio options that maintain the investment constraint but have slack in the total costs. On 13 Jun 2024, at 11:22 PM, ml6802 ***@***.***> wrote: We do not currently have that functionality included. However, it shouldn't be difficult to add. What are you trying to do? Are you looking to supplement the current overall budget constraint with a specific investment cost budget? Or to remove the overall cost budget and specifically use only an investment cost constraint? —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you commented.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you commented.Message ID: ***@***.***> —Reply to this email directly, view it on GitHub, or unsubscribe.You are receiving this because you authored the thread.Message ID: ***@***.***>

ml6802 · Answer 7 · Fri Jun 14 2024 22:33:54 GMT+0800 (China Standard Time)

Alright, thanks for the suggestion. We'll take a look at implementing something, with developments on this branch: https://github.com/GenXProject/GenX.jl/tree/702-mga-method-budget-constraint-investment-cost