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At least 19 records

GeoRePORT (Geothermal Resource Portfolio Optimization & Reporting Technique)

The Geothermal Resource Portfolio Optimization and Reporting Technique (GeoRePORT) Protocol provides a system for reporting resource grade and project readiness level. It is particularly useful for describing early-stage exploration projects. GeoRePORT can assist in evaluating project risk and return, identifying gaps in reported data, evaluating research and design impacts, and gathering insights on successes and failures. It helps users objectively and quantitatively compare project potential in geological, technical, and socioeconomic areas.

Young, Katherine↗

GeoRePORT Case Study Examples: Reporting Using the Geothermal Resource Portfolio Optimization and Reporting Technique (GeoRePORT)

The Geothermal Research Portfolio Optimization & Reporting Technique (GeoRePORT) was developed with funding from the United States Department of Energy's Geothermal Technologies Office (GTO) to assist in identifying and pursuing long-term investment strategies through the development of a resource reporting protocol. GeoRePORT provides scientists and non-scientists a comprehensive and quantitative means of reporting: (1) features intrinsic to geothermal sites (project grade) and, (2) maturity of the development (project readiness). Because geothermal feasibility is not determined by any single factor (e.g. temperature, permeability, permitting), a site's project grade and readiness are evaluated on twelve independent attributes pertaining to geological, technical, or socio-economic feasibility. In this paper, we present case studies illustrating how GeoRePORT can be used to compare geological, technical, and socio-economic attributes between geothermal systems. The consistent and objective assessment protocols used in GeoRePORT allow for comparison of project attributes across unique locations and geological settings. GeoRePORT case studies outline the geological, socio-economic and technical features of four individual geothermal sites: Coso, Chena, Dixie Valley, and White Sands Missile Range. The case studies presented herein illustrate the usefulness of GeoRePORT in evaluating project risk/return, identifying gaps in reported data, evaluating R&D impact, and gathering insights on successes/failures as applicable to future projects.

40 EE - Geothermal Technologies Office (EE-4G)↗

Introducing the GeoRePORT Resource Size Tool: Reporting on Geothermal Resource Size Estimations Using the Geothermal Resource Portfolio Optimization and Reporting Technique (GeoRePORT): Preprint

The Geothermal Resource Portfolio Optimization and Reporting Technique (GeoRePORT) was developed with funding from the U.S. Department of Energy Geothermal Technologies Office to assist in identifying and pursuing long-term investment strategies through the development of a resource reporting protocol. The assessment protocols used in GeoRePORT allow for comparison of project attributes across locations and geological settings to understand the feasibility of geothermal development. This work introduces the Resource Size Tool, a new feature within the GeoRePORT package that compiles two independent methods for estimating geothermal resource size in terms of energy capacity in MW. Energy production potential for twenty-three case studies was estimated with the Resource Size Tool in order to 1) generate a reasonable range of resource size estimates for a particular geothermal field; 2) illustrate the advantages and limitations of each methodology (such as data input requirements, estimate accuracy and precision, and the appropriate circumstances of use); and 3) test the ability of the resource size tool to provide useful and accurate information for geothermal stakeholders. The tool employs two methods widely used in the geothermal industry: (1) USGS Volumetric and (2) Power Density. Results from our case studies show general overlap between these two methods in terms of resource size estimates; however, they also reveal key differences between the two approaches that should be considered when using such estimates to drive development. First, the two methods rely on different input parameters and therefore one method may be more appropriate and/or accurate for a given project than the other. Second, the Power Density method was found to generate wider ranges of resource size predictions, more consistently aligning with actual power production of the field but with larger scales of error; whereas the USGS Volumetric method predicts narrower ranges but tends to overestimate when compared to current MW production. Future work will refine variables used in the methods with input data from other sections of GeoRePORT and modify uncertainty levels based on the particular datasets used for a given project.

geological↗

A Hybrid Energy System Workflow for Energy Portfolio Optimization

This manuscript develops a workflow, driven by data analytics algorithms, to support the optimization of the economic performance of an Integrated Energy System. The goal is to determine the optimum mix of capacities from a set of different energy producers (e.g., nuclear, gas, wind and solar). A stochastic-based optimizer is employed, based on Gaussian Process Modeling, which requires numerous samples for its training. Each sample represents a time series describing the demand, load, or other operational and economic profiles for various types of energy producers. These samples are synthetically generated using a reduced order modeling algorithm that reads a limited set of historical data, such as demand and load data from past years. Numerous data analysis methods are employed to construct the reduced order models, including, for example, the Auto Regressive Moving Average, Fourier series decomposition, and the peak detection algorithm. All these algorithms are designed to detrend the data and extract features that can be employed to generate synthetic time histories that preserve the statistical properties of the original limited historical data. The optimization cost function is based on an economic model that assesses the effective cost of energy based on two figures of merit: the specific cash flow stream for each energy producer and the total Net Present Value. An initial guess for the optimal capacities is obtained using the screening curve method. The results of the Gaussian Process model-based optimization are assessed using an exhaustive Monte Carlo search, with the results indicating reasonable optimization results. The workflow has been implemented inside the Idaho National Laboratory’s Risk Analysis and Virtual Environment (RAVEN) framework. The main contribution of this study addresses several challenges in the current optimization methods of the energy portfolios in IES: First, the feasibility of generating the synthetic time series of the periodic peak data; Second, the computational burden of the conventional stochastic optimization of the energy portfolio, associated with the need for repeated executions of system models; Third, the inadequacies of previous studies in terms of the comparisons of the impact of the economic parameters. The proposed workflow can provide a scientifically defendable strategy to support decision-making in the electricity market and to help energy distributors develop a better understanding of the performance of integrated energy systems.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Optimal Portfolio Design of Distributed Energy Resources on Puerto Rico Distribution Feeders with Long Outages after Hurricane Maria

This work details a project to design reliable, resilient, and cost-effective networked microgrids considering grid constraints and resilience metrics focused on Puerto Rico distribution feeder locations with long outages after Hurricane Maria. The project consisted primarily of modeling and simulation tasks that accomplished the following objectives: 1. Selected 10 distribution feeder models in vulnerable areas. The sample feeders are geographically distributed across Puerto Rico and vary in length to capture the wide variety of feeders on the island. 2. Determined the optimal location and sizing of distributed energy resources (DERs) on the identified distribution feeders. The systems considered as part of the microgrid solutions were solar photovoltaic (PV), battery energy storage systems (BESS) and distributed fossil fuel generation (DFFG). 3. Estimated the cost-benefit of the proposed DER portfolios. 4. Provided a set of final recommendations that inform decision making on how to do targeted planning analysis for microgrids that can supply energy to critical infrastructures.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Evaluation of Horizon of Viability Optimization Engine for Sustained Power to Critical Infrastructure: Preprint

In the aftermath of increasingly frequent catastrophic events, a typical scenario is Critical Infrastructure (CI) units being supported by available backup sources with a weak power grid that can be intermittent or absent. Such a scenario is significantly challenging in the sense of reliable supply of power to CI units. In this article, an intelligent optimization scheme termed as Horizon of Viability (HoV) engine is developed to guarantee the viability of a sustained reliable supply of power to the CI units over a time-horizon. The proposed HoV engine generates a cost-optimal portfolio of the locally available generation sources and the loads over a time horizon using a mixed-integer convex programming problem. A Controller hardware-in-the-loop (CHIL) platform is developed to evaluate the control performance of the HoV engine. The experimental results corroborates the efficacy in maintaining the viability of the CI units after a grid interruption event. Further, the proposed HoV optimization scheme performs better compared to existing net-load management schemes in the literature.

disaster resiliency↗

Dynamic Asset Allocation with Expected Shortfall via Quantum Annealing

Recent advances in quantum hardware offer new approaches to solve various optimization problems that can be computationally expensive when classical algorithms are employed. We propose a hybrid quantum-classical algorithm to solve a dynamic asset allocation problem where a target return and a target risk metric (expected shortfall) are specified. We propose an iterative algorithm that treats the target return as a constraint in a Markowitz portfolio optimization model, and dynamically adjusts the target return to satisfy the targeted expected shortfall. The Markowitz optimization is formulated as a Quadratic Unconstrained Binary Optimization (QUBO) problem. The use of the expected shortfall risk metric enables the modeling of extreme market events. We compare the results from D-Wave’s 2000Q and Advantage quantum annealers using real-world financial data. Both quantum annealers are able to generate portfolios with more than 80% of the return of the classical optimal solutions, while satisfying the expected shortfall. We observe that experiments on assets with higher correlations tend to perform better, which may help to design practical quantum applications in the near term.

97 MATHEMATICS AND COMPUTING↗

Optimizing equity in energy policy interventions: A quantitative decision-support framework for energy justice

This paper presents a quantitative framework to support policy decision-making around equitable energy interventions. By combining sociodemographic and techno-economic models in the energy space, we propose a linear programming model to calculate the optimal portfolio of energy investments that explicitly minimizes the energy burden of a given population of energy insecure households. The model is formulated as a multi-objective optimization suitable to support the decisions on weatherization and deployment of distributed energy resources. We illustrate our methodology with a case study involving a population of 14,043 energy insecure households in Wayne County, Detroit, United States.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

FORCE-DISPATCHES Integration - Initial Demonstration

Integrated energy systems (IES) combine, in mutually beneficial ways, power from variable renewable energy sources and nuclear power plants (NPP) to improve economic viability under uncertain market and weather conditions. The open-source Framework for Optimization of Resources and Economics (FORCE) tool suite, developed at Idaho National Laboratory (INL), has enabled comprehensive modeling and simulation of IES. The capabilities within FORCE include grid portfolio optimization through the Holistic Energy Resource Optimization Network (HERON) and the transient process model analysis library HYBRID, among others. Continuous efforts and investments from the IES programs have been made to expand and improve the versatility of the FORCE toolset in fiscal year 2022. Code-coupling and cross-tool communication have been important methods for improving this versatility. This report focuses on an additional workflow in the HERON tool for capacity and dispatch stochastic optimization through integration with the external tool Design Integration and Synthesis Platform to Advance Tightly Coupled Hybrid Energy Systems (DISPATCHES). DISPATCHES was primarily developed by the National Energy Technology Laboratory, in collaboration with other national laboratories, which included INL, universities, and industry partners. It is coupled to a library of algebraic models for specific plant components, and to a framework for stochastic optimization different from that provided in the current Risk Analysis Virtual Environment (RAVEN)-running-RAVEN algorithm in HERON. HERON currently conducts stochastic optimization via an outer-inner loop: it optimizes over variable capacity on the outer loop, and at each step within the capacity parameter space, conducts an inner optimization over scenarios (of market signals, demand, and/or weather patterns) and hourly dispatch throughout a user-specified number of years. On the other hand, DISPATCHES conducts stochastic optimization via an “all-at-once” strategy in which capacity variables are optimized at the same level as dispatch variables, as all scenarios are considered at once. The latter method works especially well for projects of limited size and project length, as the necessary computational power and memory increases with the number of variables and scenarios. The new capability to use the DISPATCHES workflow in HERON enhances standalone simulations by leveraging FORCE tools—namely, the economic metrics from the Tool for Economic Analysis (TEAL) and reduced-order model (ROM) sampling from RAVEN. The initial demonstration of the DISPATCHES workflow simulates an existing nuclear-case flowsheet within the DISPATCHES repository—this models a NPP with a secondary revenue stream for hydrogen production. Electrical output from the plant is converted to hydrogen via a proton-exchange membrane (PEM) electrolyzer, hydrogen tanks are used for storage, and an additional turbine is added for hydrogen combustion. Continued work regarding this FORCE-DISPATCHES integration will include automatic generation of DISPATCHES models from HERON inputs, offering analysts the option of using either the RAVEN-runsRAVEN or DISPATCHES workflow to solve technoeconomic optimization problems.

24 POWER TRANSMISSION AND DISTRIBUTION↗

FORCE Integration with DRAFT and IDAES

Integrated energy systems (IES) combine, in mutually beneficial ways, power from variable renewable energy sources and nuclear power plants (NPP) to produce multiple commodities and improve economic viability under uncertain market conditions. Technical and economic analysis of IES requires modeling of complex processes with software models having enough fidelity to capture real-world dynamics while still being capable of running using reasonable computing resources. The open-source Framework for Optimization of Resources and Economics (FORCE) tool suite, developed at Idaho National Laboratory (INL), has enabled comprehensive modeling and simulation of IES. The capabilities within FORCE include grid portfolio optimization through the Holistic Energy Resource Optimization Network (HERON) and the transient process model analysis library HYBRID, among others. Recent developments for the FORCE toolset have centered on strengthening the flexibility and modularity to link with external models and other available software to enhance IES simulations. Adding versatility to the FORCE toolset improves capability resulting in better techno-economic simulation of nuclear and IES components (both in potential higher fidelity and accuracy to expected performance after deployment). It also helps leverage existing work in the IES field and improve efficiency in national code development. This report focuses on two such endeavors: integration of the Dynamic Reliability Analysis Framework Tool (DRAFT) and the Design Integration and Synthesis Platform to Advance Tightly Coupled Hybrid Energy Systems (DISPATCHES) software packages into FORCE.

97 MATHEMATICS AND COMPUTING↗

Optimizing district energy systems under uncertainty: Insights from a case study from Washington D.C., USA

This study investigates solutions for delivering affordable heating and cooling to a brownfield site, focusing on a case study in Washington, DC. Moving towards more diverse and resilient energy systems, we identify the optimal portfolio for a district energy system with diverse energy sources to meet the area’s energy demands. Our methodological approach integrates two detailed models: one calculating building-level energy demand and the other optimizing district energy technology choices based on their demand profiles, accounting for uncertainties in energy prices, policies, and other parameters. The results provide an economic comparison of district and individual supply options at the building level, emphasizing the flexibility district systems can offer to the electricity sector. District energy systems demonstrate cost-stabilization benefits amidst volatile energy prices and external uncertainties. For heating, district systems yield significant cost savings compared to individual solutions, driven by fuel flexibility and the use of local renewable energy sources. For cooling, district systems also show advantages, though individual systems may remain more cost-effective for smaller buildings. Additionally, district systems exhibit considerable flexibility on the heating side, as evidenced by variations in electricity consumption. We recommend future research to explore the relationship between the economics of district energy systems, particularly at the building level, and their flexibility potential for the electricity sector across diverse geographic contexts to reduce overall grid costs and promote grid reliability. This includes areas with distinct zoning laws, municipal priorities, utility structures, and funding mechanisms, such as the United States, and regions like Europe with pronounced electricity price volatility.

24 POWER TRANSMISSION AND DISTRIBUTION↗

Computational Support for Technology- Investment Decisions

Strategic Assessment of Risk and Technology (START) is a user-friendly computer program that assists human managers in making decisions regarding research-and-development investment portfolios in the presence of uncertainties and of non-technological constraints that include budgetary and time limits, restrictions related to infrastructure, and programmatic and institutional priorities. START facilitates quantitative analysis of technologies, capabilities, missions, scenarios and programs, and thereby enables the selection and scheduling of value-optimal development efforts. START incorporates features that, variously, perform or support a unique combination of functions, most of which are not systematically performed or supported by prior decision- support software. These functions include the following: Optimal portfolio selection using an expected-utility-based assessment of capabilities and technologies; Temporal investment recommendations; Distinctions between enhancing and enabling capabilities; Analysis of partial funding for enhancing capabilities; and Sensitivity and uncertainty analysis. START can run on almost any computing hardware, within Linux and related operating systems that include Mac OS X versions 10.3 and later, and can run in Windows under the Cygwin environment. START can be distributed in binary code form. START calls, as external libraries, several open-source software packages. Output is in Excel (.xls) file format.

Adumitroaie, Virgil↗

Justice 40 Tool (J40 Tool) v1.0

The Justice 40 tool provides a quantitative framework to support decision-making around equitable energy interventions at the community level. The tool calculates the optimal portfolio of policy interventions that explicitly mitigates energy insecurity of an eligible population, by reducing its disproportionate energy burden. The place-based analysis assumes a spatial census tract-level resolution and distinguishes different sociodemographic groups within each tract. Instead of focusing on a specific technology, the underlying J40 model captures the combined effect of a set of policy interventions, currently including weatherization, rooftop solar, community solar and community wind. For each tract, the model chooses the optimal (least cost) combination of interventions to address the disproportionate burden, considering the specific population demographics and techno-economic potentials of technologies. Mathematically, this problem is formalized as an optimization model and formulated as a linear program.

Heleno, Miguel↗

Methodology Development for Assessment of Spaceport Technology Returns and Risks

As part of Kennedy Space Center's (KSC's) challenge to open the space frontier, new spaceport technologies must be developed, matured and successfully transitioned to operational systems. R&D investment decisions can be considered from multiple perspectives. Near mid and far term technology horizons must be understood. Because a multitude of technology investment opportunities are available, we must identify choices that promise the greatest likelihood of significant lifecycle At the same time, the costs and risks of any choice must be well understood and balanced against its potential returns The problem is not one of simply rank- ordering projects in terms of their desirability. KSC wants to determine a portfolio of projects that simultaneously satisfies multiple goals, such as getting the biggest bang for the buck, supporting projects that may be too risky for private funding, staying within annual budget cycles without foregoing the requirements of a long term technology vision, and ensuring the development of a diversity of technologies that, support the variety of operational functions involved in space transportation. This work aims to assist in the development of in methods and techniques that support strategic technology investment decisions and ease the process of determining an optimal portfolio of spaceport R&D investments. Available literature on risks and returns to R&D is reviewed and most useful pieces are brought to the attention of the Spaceport Technology Development Office (STDO). KSC's current project management procedures are reviewed. It is found that the "one size fits all" nature of KSC's existing procedures and project selection criteria is not conducive to prudent decision-making. Directions for improving KSC's - procedures and criteria are outlined. With help of a contractor, STDO is currently developing a tool, named Change Management Analysis Tool (CMAT)/ Portfolio Analysis Tool (PAT), to assist KSC's R&D portfolio determination. A critical review of CMAT/PAT is undertaken. Directions for the improvement of this tool are provided. STDO and KSC intend to follow up on many, if not all, of the recommendations provided.

Joglekar, Prafulla↗

The Role and Value of Interregional Transmission in a Decarbonized U.S. Electricity System

Decarbonizing the U.S. energy system entails a significant expansion of wind and solar power and electrification of end-use applications. Achieving both is more efficient and less costly when interregional transmission capacity is expanded, but the fractured nature of grid planning in the United States is often a barrier to such expansion. Here, we explore the role of interregional transmission under a variety of decarbonization scenarios, using a capacity-expansion model to generate co-optimized portfolios of generation, storage, and transmission that meet decarbonization targets and electrification-driven demand. We explore portfolio and cost differences across 92 scenarios, from scenarios with limited transmission expansion to those that include a meshed high-voltage direct current (HVDC) network. In the core decarbonization scenarios, wind capacity expands by ~10x and solar by ~20x compared to 2020, hundreds of gigawatts of battery storage are deployed, and interregional transmission expands by 3-6x. Transmission expansion occurs nationwide but is concentrated between the central "wind belt" and eastern load centers. The HVDC scenarios result in hundreds of billions of dollars of savings in total system cost, demonstrating the economic benefits of interregional transmission in support of rapid decarbonization.

capacity expansion↗

Classical versus quantum models in machine learning: insights from a finance application

Although several models have been proposed towards assisting machine learning (ML) tasks with quantum computers, a direct comparison of the expressive power and efficiency of classical versus quantum models for datasets originating from real-world applications is one of the key milestones towards a quantum ready era. Here, we take a first step towards addressing this challenge by performing a comparison of the widely used classical ML models known as restricted Boltzmann machines (RBMs), against a recently proposed quantum model, now known as quantum circuit Born machines (QCBMs). Both models address the same hard tasks in unsupervised generative modeling, with QCBMs exploiting the probabilistic nature of quantum mechanics and a candidate for near-term quantum computers, as experimentally demonstrated in three different quantum hardware architectures to date. To address the question of the performance of the quantum model on real-world classical data sets, we construct scenarios from a probabilistic version out of the well-known portfolio optimization problem in finance, by using time-series pricing data from asset subsets of the S&P500 stock market index. It is remarkable to find that, under the same number of resources in terms of parameters for both classical and quantum models, the quantum models seem to have superior performance on typical instances when compared with the canonical training of the RBMs. Our simulations are grounded on a hardware efficient realization of the QCBMs on ion-trap quantum computers, by using their native gate sets, and therefore readily implementable in near-term quantum devices.

97 MATHEMATICS AND COMPUTING↗

Play Fairway Analysis Retrospective GeoRePORTs

NREL, as part of the Play Fairway Analysis (PFA) Retrospective and with assistance from PFA PIs, completed GeoRePORTs for the sites identified in Phases 1&2 of the DOE PFA projects. The GeoRePORT (geothermal resource portfolio optimization and reporting technique) uses two factors to describe a specific project; grade and project readiness level. Grade describes the quality or potential of a project while project readiness level shows the progress of research and development. The categories that factor into the total grades and readiness levels are Geological, Technical, and Socio-Economic.

15 GEOTHERMAL ENERGY↗