WP 2020-86 EOLES_mv model description

Introduction

The EOLES family of models performs simultaneous optimization of the investment and operation of the energy system in order to minimize the total cost while satisfying energy demand. The “mv” in EOLES_mv stands for multi-vector and this model minimizes the annualized energy generation, conversion and storage costs, including the cost of connection to the grid. EOLES_mv considers all the major energy sectors (residential and tertiary buildings, industry, transport and agriculture) in an integrated manner, enabling sector-coupling.