%0 Journal Article %T Maximizing Income of a Cascade Hydropower with Optimization Modeling %J Journal of Renewable Energy and Environment %I Materials and Energy Research Center (MERC) Iranian Association of Chemical Engineers (IAChE) %Z 2423-5547 %A Coban, Hasan Huseyin %D 2020 %\ 02/01/2020 %V 7 %N 1 %P 12-17 %! Maximizing Income of a Cascade Hydropower with Optimization Modeling %K Optimization based electricity market %K cascaded reservoir operating rule %K hydroelectric producer %K short-term hydro scheduling %K Nonlinear Optimization %R 10.30501/jree.2020.105267 %X This paper focuses on the short-term cascade hydro scheduling problem, especially in a competitive environment, namely in market conditions. A nonlinear stochastic optimization method is proposed to take into consideration the hydroelectric energy production as a function of hourly electricity market prices and water release rates. In order to solve a case study based on one of the Turkish cascaded hydropower facilities, the proposed method has been successfully applied to a wide variety of problems at a negligible computation time while providing a higher profit. The paper shows the benefits that could be achieved by applying a model based on the Quasi-Newton Method, which finds zeroes or local maxima and minima of solving a certain type of optimization functions because it can better handle the uncertainty, constraints, and complexity of the problem. Ten-year hourly water inflow data and electricity market prices were used as inputs, and the results of the cascade and single optimization were compared. A comparison study with the operation of each hydropower plant (HPP) separately showed that 18 % higher income was obtained with a cascade variant. %U https://www.jree.ir/article_105267_166bfb6692e58cafb31b05baa7f6f537.pdf