“…In addition, it incorporates factors like capital recovery, interest, depreciation, tax rate, and various others. Extensive studies have been carried out to develop such a formulation for aiding in planning research. , Moreover, such formulations are being used by researchers in their respective work, especially for renewable energy technologies. , The energy demand of each refinery unit ( D s , i , t ) is dictated by the volume of production, prod t , and the energy requirement per product, E s , i , t , as in eq . The required input energy vector for respective energy hubs ( P s , j , t ) is multiplied by the coupling matrix that contains the conversion efficiencies, as defined by Geidl and Andersson, as in eq To form the network of energy hubs and allow energy exchange, the output load ( L s , i , t ) is tied in with the energy demand of the refinery units ( D s , i , t ) as well as the energy transferred from an energy hub s to b ( Tr s , b , i , t ) if a connection, β s , b , exists between them.…”