Optimization Method for Distribution Network Investment Projects on the Basis of Brittle Link Entropy and Cumulative Prospect Theory

An optimization method for distribution network investment projects on the basis of brittle link entropy and cumulative prospect theory was proposed to address the problem of single time scale and insufficient consideration of the correlation between projects in traditional distribution network investment.First, brittle link entropy was applied to analyze the correlation between projects and calculate the project implementation risks.Second, projects were divided into three levels in accordance with their implementation purposes, and the relationship between them and the distribution network indexes was established to determine the contributions of the distribution network projects to the power grid.On this basis, an evaluation index system for projects was created.Last, the projects were comprehensively evaluated using cumulative prospect theory containing the time discount function, and the scores of all the projects were given based on the project implementation risks and prospect values.With the total score of the project group being the highest, an investment optimization model was established, and the optimal investment scheme was obtained by the hybrid bat algorithm.Analyses of numerous examples show that the risks of project investment can be measured by brittle link entropy, and the necessity of project implementation can be scored using the project evaluation method based on cumulative prospect theory containing the time discount function.