Monte Carlo simulation using Excel for predicting reliability of a geothermal plant
- Key words
- Modelling, Simulation, Monte Carlo method, Reliability Estimate, RBD
- Conference
- Iceland Geothermal Conference
- Year
- 2003
- Session
- Plant Management
- Language
- English
Full text
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Abstract
A Monte-Carlo Simulation using Excel Spreadsheet has been used to determine the reliability of a geothermal power plant. This simulation technique utilizes the powerful mathematical and statistical capabilities of Excel. Simulation time is dependent on the complexity of the system, computer speed and the accuracy desired, so a simulation may range from a few minutes to a few hours.
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