Modified Arithmetic Optimization Algorithm: A New Approach for Optimum Modeling of the CCHP system

The present study proposes a complete approach for the optimization of the structure of the mixed heating, cooling, and power systems concerning a policy with others. The model is mathematically designed by energy flow and energy balancing between the CCHP system and conventional system. The cost function is considered based on assigning weights to Carbon Dioxide Emission Reductio, Cost Saving Ratio, and Initial Energy Saving Ratio. The paper uses a new modified design of the Arithmetic Optimization Algorithm to meet the output of the devices as an optimization strategy. The reason for using the new optimization algorithm is to develop the AOA efficiency in terms of accuracy and convergence. The designed tool is then performed on an industrial zone in Southeastern Maritime Industrial Region, South Korea. Simulation results demonstrated that however, the initial investment of the CCHP system is higher than the traditional system, its yearly cost was lessened with a proper percentage. In the meantime, less CO 2 emissions are generated and more initial energy is saved.