(Solution) An electric utility is considering 5 possible locations to build additional power plants over the next 20 years. > Snapessays.com


(Solution) An electric utility is considering 5 possible locations to build additional power plants over the next 20 years.


An electric utility is considering 5 possible locations to build additional power plants over the next 20 years. The cost of buildinga plant at each site, the annual operating cost and the energy/year that can be provided at each site are given, as well as the totalenergy requirement for each year of the planning horizon. Assume that at most one plant can be placed into service in a givenyear, and that it can produce its full energy contribution starting the year it is placed in service. The company can currentlygenerate 500,000 kwh/year, using its existing resources. Develop a dynamic programming model to determine the expansion planthat will minimize overall construction and operating costs over the 20 years.

 


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This question was answered on: Sep 21, 2023

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