A Novel Hybrid Power-Grid Investment Optimization Model with Collaborative Consideration of Risk and Benefit

Abstract

Power-grid investment (PGI) optimization is crucial for boosting investment performance, lowering investment risks, and assuring the sustainable development of power-grid businesses. However, existing studies, which primarily concentrate on financial aspects, have not adequately considered the risk and benefit factors in the process of PGI. In this context, this research suggests a novel hybrid PGI optimization model that collaboratively accounts for the risks and benefits. In the first step, risk and benefit indicator systems for PGI are built, and a comprehensive evaluation model based on the Bayesian best–worst method and TOPSIS is suggested. In the second stage, a PGI optimization model considering the investment amount, power demand, and low-carbon restrictions is further developed based on the evaluation results. Furthermore, the incomprehensible but intelligible-in-time logic algorithm is adopted to solve the problem. By conducting an empirical analysis of ten projects within a power-grid company, the optimal investment plan and a differentiated investment portfolio strategy are obtained by adjusting the key elements.