Optimizing the Investment Strategy of Fully Renewable Energy Water Systems

The interdependence between the water and power sectors is of growing concern as the need for desalination increases. Therefore, co-optimizing interdependent systems is necessary to understand the sectors impact on one another. We propose a framework to identify the optimal investment mix for a co-optimized water-power system, and apply it to NEOM, Saudi Arabia. Our results show that investment strategies that consider the co-optimization of both systems result in total cost savings for the power sector, when compared to naïve approaches. Analysis results suggest that the system with higher shares of non-dispatchable renewables experience the largest cost reductions.

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