Handling of long-term storage in multi-horizon stochastic programs

This paper shows how to implement long-term storage in the multi-horizon modelling paradigm,
expanding the range of problems this approach is applicable to.
The presented implementation is based on the HyOpt optimization model, but the ideas should be transferable also to other models implementing the multi-horizon approach.

We illustrate the effects of several different formulations on a simple case of electrifying an offshore installation using wind turbines and a hydrogen-based energy-storage system.
The results show that the formulations provide reasonable modelling of the storage capacity, without sacrificing the advantages of the multi-horizon approach.

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