Project description
Enhancing net-zero power systems through advanced data aggregation and optimisation
A fundamental challenge for optimisation models representing complex systems, like power systems transitioning to net-zero emissions, is balancing model accuracy with computational tractability. The ERC-funded project NetZero-Opt aims to improve these models while addressing this crucial trade-off. More specifically, it proposes a novel time series aggregation (TSA) framework to address often overlooked aspects in conventional methods including long-term dynamics and the impact of input data simplification on output accuracy. The successful outcome of this initiative would mark a significant step towards realising efficient and accurate power system models, crucial for achieving net-zero emissions in a complex and evolving energy landscape.
Objective
One of the fundamental problems of using optimization models that represent complex systems – e.g. power systems on their path towards achieving net-zero emissions – is the trade-off between model accuracy and computational tractability. Many applied optimization models that use different time series as data input have become increasingly challenging to solve due to the large time horizons they span and the high complexity of technical constraints with short- and long-term time dynamics. To overcome computational intractability of these optimization models, the dimension of input data and model size is commonly reduced through time series aggregation (TSA) methods. However, applying TSA for optimization models that are governed by varying time dynamics simultaneously is quite challenging. TSA methods mostly focus on short-term dynamics, and rarely include long-term dynamics due to the inherent limitations of TSA. As a result, longer-term dynamics are not captured well by aggregated models, which is imperative for reliably modelling many complex systems. Moreover, traditional TSA methods are based on the common belief that the clusters that best approximate the input data also lead to the aggregated model that best approximates the full model, while the metric that really matters –the resulting output error in optimization results – is not well addressed. This belief is mainly based on the lack of theoretical underpinning relating inputs and output error, rendering existing methods trial-and-error heuristics at best. We plan to challenge this belief by discovering the currently unknown relation between input and output error, and to overcome existing TSA shortcomings by developing the novel theoretical TSA framework for optimization models with varying time dynamics, thereby tapping into unprecedented potential of computational efficiency and accuracy. If this project is successful, it would have untangled the Gordian knot of data aggregation in optimization.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
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Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
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HORIZON.1.1 - European Research Council (ERC)
MAIN PROGRAMME
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Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-ERC - HORIZON ERC Grants
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Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2023-STG
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Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
8010 Graz
Austria
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.