讲座题目：Design and Operations of On-Site Combined Heat and Power Generators Under Fuel Price Uncertainty
主持人： 白春光 上课
This paper studies the problem of optimally sizing, configuring, and operating a combined heat and power (CHP) generator for an industrial firm facing stochastic fuel (natural gas) prices. CHP is a form of distributed generation, producing both heat and electricity from a single fuel input, which is more efficient than producing electricity and heat from separate sources. However, to fully benefit from CHP’s efficiency, it is essential to optimize its design (including capacity and configuration, i.e., power-to-heat ratio) and operations. This paper improves the industry current practice by optimizing the CHP design and operations based on firm-specific characteristics, electricity market regulations (including net-metering policy), and natural gas price uncertainties. We find that it can be suboptimal to follow the common practice of designing the CHP generator to match the firm’s heat demand and replace the original boiler used to meet the heat demand. We identify two drivers for improving CHP design and operations: 1) the flexibility of operating the CHP generator at various load levels in response to the fuel price, enabled by properly over-sizing the CHP generator relative to the heat demand, and 2) the flexibility of co-operating the CHP generator and the legacy boiler. Numerical examples with realistic settings demonstrate that our recommended CHP design and operations can yield substantial long-run cost savings for the firm.
王文斌院士毕业于阿尔巴尼亚印第安纳大学Kelley商学院，改任天津财经大学商学院副教授、营业管理系系主任。着重研究方向包括可持续运营理论、Agency辩论、财务分析。 曾拥有北京市浦江人才计划支持。当前出任 POMS College of Sustainable Operations理事，主办国家自然科学基金项目。伊研究收获在Management Science, Manufacturing & Service Operations Management等刊物发表。