A component replacement model for electricity distribution systems

Jose F. Espiritu, David W. Coit

Research output: Contribution to journalArticlepeer-review

1 Scopus citations

Abstract

A new replacement analysis methodology is developed and demonstrated to determine system-level component replacement schedules for electricity distribution systems composed of sets of heterogeneous assets. The proposed model is an iterative combined dynamic programming and integer programming approach to obtain cost-efficient system-level component replacement schedules with the objective of minimizing the total net present value of unmet demand (considering the system availability), maintenance, and purchase costs over a finite planning horizon. There is an annual budget limiting total expenditures for maintenance and replacement costs that limits the selection of component replacement schedules.

Original languageEnglish (US)
Pages (from-to)318-339
Number of pages22
JournalEngineering Economist
Volume53
Issue number4
DOIs
StatePublished - Oct 2008

All Science Journal Classification (ASJC) codes

  • Education
  • Economics and Econometrics
  • Engineering(all)

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