Paper Info
Title
Practice Summaries: An Optimization Mathematical Model for Concentrated Solar Power Financing Decisions at Lockheed Martin
Abstract
Concentrated solar power plants are an alternative to natural gas turbine plants in the portfolios of utilities and independent power producers (IPPs). To obtain financing for a new plant, an IPP must rigorously establish plant production guarantees. We developed an optimization model that maximizes annual profits by generating an optimal hour-by-hour production schedule. We use a fast greedy heuristic to solve this mathematical model. This work has enabled Lockheed Martin and its developer partners to be successful in project negotiations with major utility companies, resulting in 725 megawatts of power plants in development and over $5 billion in predicted sales.
Year
DOI
Venue
2012
10.1287/inte.1120.0662
Interfaces
Keywords
DocType
Volume
plant production guarantee,practice summaries,concentrated solar power financing,mathematical model,concentrated solar power plant,optimal hour-by-hour production schedule,natural gas turbine plant,optimization model,power plant,lockheed martin,new plant,independent power producer,optimization mathematical model,energy,forecasting,renewable sources,decision support systems,information systems
Journal
42
Issue
ISSN
Citations 
6
0092-2102
0
PageRank 
References 
Authors
0.34
0
3
Name
Order
Citations
PageRank
Alan Taber100.34
Andrei Nikiforov240.73
Alok Baveja312011.99