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Articles of Interest
The levelized cost of energy and regulatory uncertainty in plant lifetimes. by Rode, David C., and Fischbeck, Paul S.The levelized cost of energy is commonly used in both policymaking and capital investment decisions. It unitizes capital costs by amortizing them over an assumed asset life. The life of the asset is usually assumed to be known with certainty. But in many electric power applications, the life is both uncertain and subject to regulatory shocks. In these cases, the standard levelized cost of energy calculation is incorrect and potentially misleading. We propose a corrected version of this measure using expectation under a probability model for shortened life and show its implications for several investment and policy applications. [ABSTRACT FROM AUTHOR]
Design Optimization of Selected Mechanical Engineering Components using Variants of Rao Algorithms. by Rao, Ravipudi Venkata, and Zinzuvadia, NiketThe present paper proposes self-adaptive multi-population elitist (SAMPE) Rao algorithms and chaotic Rao algorithms for design optimization of selected mechanical engineering components. The proposed algorithms are applied to 25 benchmark problems and 15mechanical engineering design optimization problems to examine their performance. The Friedman rank test is utilized to demonstrate the significance of the proposed algorithms and the algorithms are ranked according to their performance. The results obtained using the proposed algorithms are compared with the results obtained using other advanced optimization algorithms to demonstrate the effectiveness of the proposed algorithms. It is observed that the performance of the proposed algorithms is either better or competitive to the basic Rao algorithms and the other advanced optimization algorithms. [ABSTRACT FROM AUTHOR]
Publication Date: December 2022. Jordan Journal of Mechanical & Industrial Engineering. v.16, no.5. p.835-863.