Optimizing Green Energy Systems

Energy production throughout the world is transitioning from fossil fuels to renewable sources such as wind power and solar power. This transition has been gradual—over half of the world’s electricity is still produced by coal, oil, and gas—but must accelerate to meet global emission targets. This paper examines the contributions that mathematical optimization and equilibrium models can make to help accelerate this transition. The models we catalog cover a range of physical scales and timescales. Our focus is on novel model formulations that can help overcome the challenges of the transition by unpicking the complexity inherent in many settings and quantifying the trade-offs that must be made when developing energy policy.

Funding: This research was performed while the authors were participating in the Architecture of Green Energy Systems Program hosted by the University of Chicago, which is supported by the National Science Foundation [Grant DMS-1929348]. A. B. Philpott acknowledges support from MBIE Catalyst Fund New Zealand German Platform for Green Hydrogen Integration (HINT) [Grant UOCX2117].