An investment level decision method to secure long-term reliability

Satoshi Bamba, Kuniaki Yabe, Tomomichi Seki, Tetsuji Shibaya

Research output: Contribution to journalArticlepeer-review

Abstract

The slowdown in power demand increase and facility replacement causes the aging and lower reliability in power facility. And the aging is followed by the rapid increase of repair and replacement when many facilities reach their lifetime in future. This paper describes a method to estimate the repair and replacement costs in future by applying the life-cycle cost model and renewal theory to the historical data. This paper also describes a method to decide the optimum investment plan, which replaces facilities in the order of cost-effectiveness by setting replacement priority formula, and the minimum investment level to keep the reliability. Estimation examples applied to substation facilities show that the reasonable and leveled future cash-out can keep the reliability by lowering the percentage of replacements caused by fatal failures.

Original languageEnglish
Pages (from-to)329-335+40
JournalIEEJ Transactions on Power and Energy
Volume128
Issue number1
DOIs
Publication statusPublished - 2008
Externally publishedYes

Keywords

  • Facilities life
  • Facilities replacement
  • Investment level
  • Life-cycle cost

ASJC Scopus subject areas

  • Energy Engineering and Power Technology
  • Electrical and Electronic Engineering

Fingerprint

Dive into the research topics of 'An investment level decision method to secure long-term reliability'. Together they form a unique fingerprint.

Cite this