Krishna Priya G., Bandyopadhyay S., Tan R., 2015, Multi-Objective Pinch Analysis with Multiple Resources, Chemical Engineering Transactions, 45, 823-828.
Pinch Analysis is an optimization technique that has been applied to a wide array of problems ranging from water networks to power systems. In general, Pinch Analysis is applied to single objective optimization problems. A characterizing parameter, called prioritized cost, has been developed to identify a cost optimal solution with multiple resources. In this work, Pinch Analysis is extended to address multi-objective Pinch Analysis problems with multiple resources. This is achieved by assigning a weighting factor to each objective and calculating the prioritized cost based on this variable. As the weighted prioritized cost is a linear function, it is possible to identify key values of the weighting factor where the order of priorities shifts. This greatly reduces the complexity of the problem and makes it possible to identify all the viable resource combinations. The plots of prioritized cost as a function of weighting factor can be obtained for any number of available resources. Using the prioritizing order given by these plots, Pinch Analysis can be extended to solving multi-objective optimization problems. The proposed methodology is demonstrated using the Indian power sector as an example with objectives to simultaneously minimize the capital investment and emission of oxides of nitrogen while keeping the carbon dioxide emission within prescribed limits.
