We consider some problems related to energy systems design, as optimal installation of renewables to minimise costs or to smoothen out intermittency of production. We look at sub-optimality as an approach to open up for flexibility. To illustrate this approach, we make a small encounter into portfolio theory and Merton's problem. We also consider allocation problems based on the philosophy of mean-variance optimization (Markowitz).
The talk is based on joint work with Aleksander Grochowicz, Koen van Greevenbroek and Marianne Zeyringer.