Generation expansion planning

Generation expansion planning (also known as GEP) is finding an optimal solution for the planning problem in which the installation of new generation units satisfies both technical and financial limits.Kazemi, Hamidreza Moayed, Sahand Ghaseminejad Liasi, and Mohammadkazem Sheikh-El-Eslami. [https://ieeexplore.ieee.org/abstract/document/8777904 "Generation Expansion Planning Considering Investment Dynamic of Market Participants Using Multi-agent System."] In 2018 Smart Grid Conference (SGC), pp. 1-6. IEEE, 2018.{{cite book | chapter=Generation expansion planning considering integrating large-scale wind generation | date=2019-09-10 | doi=10.1109/IECON.2013.6699447 | isbn=978-1-4799-0224-8 | chapter-url=https://backend.orbit.dtu.dk/ws/files/63705314/Generation%20Expansion%20Planning%20Considering%20Integrating%20Large-scale%20Wind%20Generation.pdf | title=IECON 2013 - 39th Annual Conference of the IEEE Industrial Electronics Society | last1=Chunyu Zhang | last2=Ding | first2=Yi | last3=Ostergaard | first3=Jacob | last4=Wu | first4=Qiuwei | pages=2051–2056 | s2cid=7991898 }} GEP is a challenging problem because of the large scale, long-term and nonlinear nature of generation unit size.{{cite journal | title=A review of emerging techniques on generation expansion planning | date=2019-09-10 | doi=10.1109/59.627882 | url=http://www.lib.ncsu.edu/resolver/1840.2/621 | last1=Jinxiang Zhu | last2=Mo-Yuen Chow | journal=IEEE Transactions on Power Systems | volume=12 | issue=4 | pages=1722–1728 | url-access=subscription }} Due to lack of information, companies have to solve this problem in a risky environment because the competition between generation companies for maximizing their benefit make them to conceal their strategies. Under such an ambiguous condition, various nonlinear solutions have been proposed to solve this sophisticated problem.Park, Jong-Bae, Young-Moon Park, Jong-Ryul Won, and Kwang Y. Lee. [https://web.archive.org/web/20200323111754/https://ieeexplore.ieee.org/abstract/document/871713 "An improved genetic algorithm for generation expansion planning."] IEEE Transactions on Power Systems 15, no. 3 (2000): 916-922. These solutions are based on different strategies including: game theory,Y.Tohidi, L. Olmos, M. Rivier and M. Hesamzadeh, "Coordination of generation and transmission development through generation transmission charges - a game theoretical approach," IEEE Transactions on Power Systems, vol. 32, no. 2, pp. 1103 - 1114, 2017. two-level game model,V. Nanduri, T. K. Das and P. Rocha, "Generation capacity expansion in energy markets using a two-level game-theoretic model," IEEE trans. power sys, vol.24, no.3, pp.1165,1172, 2009. multi-agent system, genetic algorithm, particle swarm optimizationKannan, S., S. Mary Raja Slochanal, P. Subbaraj, and Narayana Prasad Padhy. "Application of particle swarm optimization technique and its variants to generation expansion planning problem." Electric Power Systems Research 70, no. 3 (2004): 203-210. and so forth.