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At least 37 records · Page 2

Pumped Storage Hydropower Valuation Guidebook: A Cost-Benefit and Decision Analysis Valuation Framework

As an energy storage technology, pumped storage hydropower (PSH) supports various aspects of power system operations. However, determining the value of PSH plants and their many services and contributions to the system has been a challenge. While there is a general understanding that PSH resources provide many services and benefits for the operation of power systems, estimating the value of these services—and especially the monetary value of some of those services—has been a challenge. The objective of this project, funded by the U.S. Department of Energy’s (DOE’s) Water Power Technologies Office (WPTO), is to advance the state of the art in assessing the value of PSH plants and their contributions to the power system. The specific goal is to develop detailed, step-by-step valuation guidance that PSH developers, plant owners or operators, and other stakeholders can use to assess the value of existing or potential new PSH plants and their services. The specific goals of this project are: (1) to develop comprehensive and transparent valuation guidance that will support consistent valuation assessments and comparisons of PSH projects or project design alternatives, (2) to test the PSH valuation guidance and its underlying methodology by applying it to two selected PSH projects, and (3) to transfer and disseminate the PSH valuation guidance to the hydropower industry, PSH developers, and other stakeholders. The authors believe that the application of a consistent, transparent, and repeatable valuation process will advance valuation assessments and allow stakeholders to compare valuation analyses performed for different PSH projects or design alternatives. It will also increase the acceptance of valuation results and enable better understanding of the true value that PSH technology brings to the grid.

13 HYDRO ENERGY↗

REopt: Energy Decision Analysis

REopt transforms complex energy project decisions into actionable results for building owners, utilities, and industry. Based on decades of NREL decision-support expertise, REopt guides investment in economic, resilient energy technologies. This presentation provides an overview of how REopt can help building owners, utilities, developers, and industry optimize the economic and resilience benefits of distributed energy resources.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

REopt: Energy Decision Analysis

The REopt techno-economic decision support platform is used by researchers to optimize energy systems for buildings, campuses, communities, microgrids, and more. REopt recommends the optimal mix of renewable energy, conventional generation, and energy storage technologies to meet cost savings, resilience, emissions reductions, and energy performance goals.

battery↗

Decision analysis with approximate probabilities

This paper concerns decisions under uncertainty in which the probabilities of the states of nature are only approximately known. Decision problems involving three states of nature are studied. This is due to the fact that some key issues do not arise in two-state problems, while probability spaces with more than three states of nature are essentially impossible to graph. The primary focus is on two levels of probabilistic information. In one level, the three probabilities are separately rounded to the nearest tenth. This can lead to sets of rounded probabilities which add up to 0.9, 1.0, or 1.1. In the other level, probabilities are rounded to the nearest tenth in such a way that the rounded probabilities are forced to sum to 1.0. For comparison, six additional levels of probabilistic information, previously analyzed, were also included in the present analysis. A simulation experiment compared four criteria for decisionmaking using linearly constrained probabilities (Maximin, Midpoint, Standard Laplace, and Extended Laplace) under the eight different levels of information about probability. The Extended Laplace criterion, which uses a second order maximum entropy principle, performed best overall.

Whalen, Thomas↗

REopt: Energy Decision Analysis [Slides]

REopt transforms complex energy project decisions into actionable results for building owners, utilities, and industry. Based on decades of NREL decision-support expertise, REopt guides investment in economic, resilient energy technologies. This presentation provides an overview of how REopt can help building owners, utilities, developers, and industry optimize the economic and resilience benefits of distributed energy resources.

29 ENERGY PLANNING, POLICY, AND ECONOMY↗

Digital Engineering and Cybersecurity Decision Analysis in Early Phases of SMR-Driven IES Projects

Considerable efforts are underway to ensure cybersecurity is integrated into the systems engineering lifecycle. Cyber-informed engineering and security-by-design frameworks are intended to identify and engineer out cybersecurity risks throughout the lifecycle. While these approaches are valuable for promoting the need to include cybersecurity considerations in early design phases to create more secure systems, they may not consider the entirety of digital risks. Digital risks in a digital instrumentation and control system include adversarial and unintentional risks from internal and external factors, such as human performance errors, design flaws, environmental conditions, and equipment degradation or failure. This report provides a detailed discussion on digital risk prior to describing the background and concept of operations for a small modular reactor-driven integrated energy system connected to industrial applications. The challenges of competing objectives and competing stakeholder requirements are discussed and the impacts on digital engineering, security considerations, and interdependencies are evaluated for mission-level, facility-level, and system-level decisions.

98 NUCLEAR DISARMAMENT, SAFEGUARDS, AND PHYSICAL P↗

Sequential decision analysis for nonstationary stochastic processes

A formulation of the problem of making decisions concerning the state of nonstationary stochastic processes is given. An optimal decision rule, for the case in which the stochastic process is independent of the decisions made, is derived. It is shown that this rule is a generalization of the Bayesian likelihood ratio test; and an analog to Wald's sequential likelihood ratio test is given, in which the optimal thresholds may vary with time.

Schaefer, B.↗

Cost/Effort Drivers and Decision Analysis

Engineering trade study analyses demand consideration of performance, cost and schedule impacts across the spectrum of alternative concepts and in direct reference to product requirements. Prior to detailed design, requirements are too often ill-defined (only goals ) and prone to creep, extending well beyond the Systems Requirements Review. Though lack of engineering design and definitive requirements inhibit the ability to perform detailed cost analyses, affordability trades still comprise the foundation of these future product decisions and must evolve in concert. This presentation excerpts results of the recent NASA subsonic Engine Concept Study for an Advanced Single Aisle Transport to demonstrate an affordability evaluation of performance characteristics and the subsequent impacts on engine architecture decisions. Applying the Process Based Economic Analysis Tool (PBEAT), development cost, production cost, as well as operation and support costs were considered in a traditional weighted ranking of the following system-level figures of merit: mission fuel burn, take-off noise, NOx emissions, and cruise speed. Weighting factors were varied to ascertain the architecture ranking sensitivities to these performance figures of merit with companion cost considerations. A more detailed examination of supersonic variable cycle engine cost is also briefly presented, with observations and recommendations for further refinements.

Seidel, Jonathan↗

Decision Analysis Methods Used to Make Appropriate Investments in Human Exploration Capabilities and Technologies

NASA is transforming human spaceflight. The Agency is shifting from an exploration-based program with human activities in low Earth orbit (LEO) and targeted robotic missions in deep space to a more sustainable and integrated pioneering approach. Through pioneering, NASA seeks to address national goals to develop the capacity for people to work, learn, operate, live, and thrive safely beyond Earth for extended periods of time. However, pioneering space involves daunting technical challenges of transportation, maintaining health, and enabling crew productivity for long durations in remote, hostile, and alien environments. Prudent investments in capability and technology developments, based on mission need, are critical for enabling a campaign of human exploration missions. There are a wide variety of capabilities and technologies that could enable these missions, so it is a major challenge for NASA's Human Exploration and Operations Mission Directorate (HEOMD) to make knowledgeable portfolio decisions. It is critical for this pioneering initiative that these investment decisions are informed with a prioritization process that is robust and defensible. It is NASA's role to invest in targeted technologies and capabilities that would enable exploration missions even though specific requirements have not been identified. To inform these investments decisions, NASA's HEOMD has supported a variety of analysis activities that prioritize capabilities and technologies. These activities are often based on input from subject matter experts within the NASA community who understand the technical challenges of enabling human exploration missions. This paper will review a variety of processes and methods that NASA has used to prioritize and rank capabilities and technologies applicable to human space exploration. The paper will show the similarities in the various processes and showcase instances were customer specified priorities force modifications to the process. Specifically, this paper will describe the processes that the NASA Langley Research Center (LaRC) Technology Assessment and Integration Team (TAIT) has used for several years and how those processes have been customized to meet customer needs while staying robust and defensible. This paper will show how HEOMD uses these analyses results to assist with making informed portfolio investment decisions. The paper will also highlight which human exploration capabilities and technologies typically rank high regardless of the specific design reference mission. The paper will conclude by describing future capability and technology ranking activities that will continue o leverage subject matter experts (SME) input while also incorporating more model-based analysis.

Williams-Byrd, Julie↗

REopt: Energy Decision Analysis Overview for NCSP+ States Collaborative [Slides]

This presentation offers an overview of NREL's REopt(R) web tool for the National Community Solar Partnership+ States Collaborative. REopt is a techno-economic modeling tool for evaluating distributed energy resources toward a site's cost savings and resilience goals. The presentation includes an overview of the REopt platform, a REopt web tool demonstration, and resources to learn more about REopt.

14 SOLAR ENERGY↗