Time Series Aggregation for Optimization: One-Size-Fits-All?

Sonja Wogrin*

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

Abstract

One of the fundamental problems of using optimization models that use different time series as data input, is the trade-off between model accuracy and computational tractability. To overcome computational intractability of these full optimization models, the dimension of input data and model size is commonly reduced through time series aggregation (TSA) methods. However, traditional TSA methods often apply a one-size-fits-all approach 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. In this paper, we plan to challenge this belief and show that output-error based TSA methods with theoretical underpinnings have unprecedented potential of computational efficiency and accuracy.

Original languageEnglish
Pages (from-to)2489-2492
Number of pages4
JournalIEEE Transactions on Smart Grid
Volume14
Issue number3
DOIs
Publication statusPublished - 1 May 2023

Keywords

  • optimization
  • Time series aggregation

ASJC Scopus subject areas

  • General Computer Science

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