This non-patented configurable capacity expansion model determines investment decisions on generation assets that, if operated optimally subject to operational constraints like ramps and cycling, can fulfill the electricity demand of a particular system at minimum cost while also meeting limits on CO2 emissions. Given a set of pre-specified conditions, the model co-optimizes five interlinked power system features to produce a snapshot of the minimum cost generation capacity mix that meets detailed operational constraints and CO2 emissions limits. These include capacity expansion planning, optimal generation dispatch, optimal power flow between zones, cluster unit commitment operations, and interactions between electricity and heat markets.
The methodology employed in GenX encompasses three components: the primary component decides which power plants to build and where; the secondary component accounts for capacity operational decisions; and the third component decides how to use electricity-to-heat capacity to reduce the system's total cost for electricity generation. Model implementation is in Julia Language.