Multi-Objective Optimization for Combined Heat Power Operations considering Flexibility, Costs and Environmental Emissions

Optimal operation of a combined heat and power (CHP) system proves to be a challenge. This is because CHP systems could be operated in several alternative configurations. In fact, each technology may have different heat and electricity outputs, costs, emissions and flexibilities. To address such challenge, operational optimization must be considered. In this paper, a mathematical optimization model was developed to optimise cost, carbon dioxide emissions and flexibility for a CHP system operation to meet increased energy production requirements. The developed model employs multi-objective optimization to determine a trade-off between costs, carbon dioxide emissions and flexibility. To demonstrate the proposed approach, a multi-fuel CHP case study was solved. Results indicate that a trade-off CHP configuration that achieves the best possible balance between costs, emissions and flexibility was determined.