A probabilistic formulation for cost / benefit analysis in power distribution engineering

G. T. Heydt, A. Dinakar

Research output: Chapter in Book/Report/Conference proceedingConference contribution

1 Scopus citations

Abstract

Cost to benefit analysis in electric power engineering is revisited by including uncertainty in both the cost and benefit models. The uncertainty in costs and benefits are modeled in probabilistic terms with assumed probability density functions. The result is a stochastic calculation of such indicators as payback time, expected monetized benefits, and conditional expectations of these indicators. The method is applied to power distribution system cost to benefit analysis.

Original languageEnglish (US)
Title of host publication2017 IEEE Power and Energy Society General Meeting, PESGM 2017
PublisherIEEE Computer Society
Pages1-5
Number of pages5
Volume2018-January
ISBN (Electronic)9781538622124
DOIs
StatePublished - Jan 29 2018
Event2017 IEEE Power and Energy Society General Meeting, PESGM 2017 - Chicago, United States
Duration: Jul 16 2017Jul 20 2017

Other

Other2017 IEEE Power and Energy Society General Meeting, PESGM 2017
CountryUnited States
CityChicago
Period7/16/177/20/17

Keywords

  • Cost to benefit analysis
  • Engineering economics
  • Investment
  • Payback period
  • Power distribution engineering
  • Probability
  • Ratio distribution

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Nuclear Energy and Engineering
  • Renewable Energy, Sustainability and the Environment
  • Electrical and Electronic Engineering

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  • Cite this

    Heydt, G. T., & Dinakar, A. (2018). A probabilistic formulation for cost / benefit analysis in power distribution engineering. In 2017 IEEE Power and Energy Society General Meeting, PESGM 2017 (Vol. 2018-January, pp. 1-5). IEEE Computer Society. https://doi.org/10.1109/PESGM.2017.8274343