Methodology for obtaining simplified models for the long-term energy management of renewable assets under a high degree of uncertainty

This paper addresses the attainment of a methodology aimed at obtaining simplified models embedding regulatory constraints imposed by country-specific remuneration mechanisms in energy management system long operating life renewable assets under high degree uncertainty. methodology, composed different steps which sensitivity analysis as well Monte Carlo simulation play key role, is focused on significant case study that has implemented two most widely used worldwide promotion energies, i.e., feed-in tariffs and auctions. The earnings before interest, tax, depreciation amortization have been output variable model, it essential to take into account both revenues costs these manage them optimally. Some valid achieved applying proposed with generalized errors below 5%. Specifically, one model obtained tariff scheme, involves acting almost 40% equations original reducing initial input parameters 22%. Meanwhile, auction scheme. conservative 50% 35%, while less more than 42%. In short, although uncertainty cannot be completely eliminated, can considerably reduced facilitating assessment its prospective financial results. validity demonstrates suitability usefulness simplifying providing touch quality long-term judgement decision-making stakeholders when optimally managing facilities any type