Economic Dynamic Real-Time Optimization and Nonlinear Model-Predictive Control on Infinite Horizons

Lynn Wuerth1,  James B. Rawlings2,  Wolfgang Marquardt1
1RWTH Aachen, 2University of Wisconsin. Madison


Abstract

This paper investigates the formulation of nonlinear model-predictive control problems with economic objectives on an infinite horizon. The proposed formulation guarantees nominal stability for closed-loop operation. Furthermore, a novel solution method of the infinite horizon method through a transformation of the independent time variable is employed. The closed-loop optimization with infinite horizon is compared to a finite-horizon formulation. A small case study is presented for illustration purposes.