A Stochastic Mixed-Integer Programming approach to the energy-technology management problem

As the development and population of North America continues to grow, the demand for environmentally friendly or clean energy generation is becoming more of an issue. We present a model that addresses the energy technologies that may continue to be used and new clean energy technologies that should be introduced in energy generation. The approach involves a Stochastic Mixed-Integer Program (SMIP) that minimizes cost and emission levels associated with energy generation while meeting energy demands of a given region. The results provide encouraging outcomes with respect to cost, emission levels, and energy-technologies that should be utilized for future generation.

► We model clean energy technology generation to be utilized in current production.
► Energy generation cost and emissions are minimized while meeting demands.
► The approach involves a two-stage, Stochastic Mixed-Integer Program.
► Scenarios are used to address uncertainties in demand, generation, cost, etc.
► Encouraging results are obtained based on new clean energy technology integration.