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Skip to 0 minutes and 7 secondsToday, I'm going to represent the numerical group and show you what we did with our model. We want to minimise total costs so we set up the objective which consists of the investment costs of the renewable energy sources and the investment costs of the storage capacity. We've made an assumption here that variable costs are zero, because a big part of the costs in producing renewable energy is fixed costs. The constraints we made, you can see below here. The first one tells you that overall demand should be less equal to the production and the actual storage level. We also implemented the availability factor a-t.

Skip to 0 minutes and 57 secondsThis gives us the amount of the renewable energy, which can be used at a percentage of the total capacity in this period T. The next constraint seems pretty obvious, but it's important to note that too. The actual storage level can't be higher than the maximum capacity of the storage. And it's important to notice to work with the model in the right way. The last equation gives us the actual level of the storage. And it consists of the level of the former period plus the difference in production and consumption in the former period. I also want to show you some additional considerations. Later we want to work with different types of renewable energy, so we implemented the subscript i.

Skip to 1 minute and 51 secondsThis allows us to sum up over the different types of renewable energy and the corresponding investment costs. Another concept I want to show you is the efficiency factor eta. This allows us to consider the loss of energy while using this storage instead of instant consumption of the energy produced.

Presentation of the group work on numerical modeling

In this video Johannes Kossmann presents the results from the group work on numerical modelling. Compare it with your own work and join the discussion.

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This video is from the free online course:

Exploring Possible Futures: Modeling in Environmental and Energy Economics

University of Basel