Economic optimization of a bioenergy-based hybrid renewable energy system under carbon policies—from the life-cycle perspective

Lihui Zhang, Songrui Li, Yitang Hu and Qingyun Nie

Applied Energy, 2022, vol. 310, issue C, No S0306261922000770

Abstract: Rural areas are rich in renewable energy sources, such as wind, solar, and biomass. Bioenergy is a “zero-carbon energy”; therefore, bioenergy-based hybrid renewable energy systems (HRESs) are expected to be an important path for rural energy transformation. However, economic conditions make it difficult to mobilize investors in rural areas. Based on carbon emissions measured via life cycle assessment, an economic optimization mechanism was developed for HRESs under three carbon policies. The impacts of these three policies, carbon tax, carbon cap-and-trade, and carbon offset, on the economic and emission reduction benefits of HRESs were explored. The results showed that the introduction of biomass intermediate pyrolysis poly-generation could significantly reduce HRES emissions. Particularly, “carbon fixation” in biochar accounts for >60% of negative carbon emissions. By participating in the carbon mechanism, the economic benefits of the HRES in this study increased by $6776 compared with that of the integrated energy system in the urban area. This would effectively improve the dynamism of bioenergy-based HRESs. Considering the demands of different stages, the carbon policy implementation path “carbon offset – carbon cap-and-trade – carbon tax – carbon cap-and-trade” for HRESs was proposed. Based on a sensitivity analysis, the reference point of government carbon pricing can be obtained. The optimization mechanism may provide a reference for policymakers and investors, as well as help form a replicable and scalable HRES model in rural areas in the future.

Keywords: Bioenergy; Hybrid renewable energy system; Life cycle assessment; Carbon emission; Carbon policy (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306261922000770
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:appene:v:310:y:2022:i:c:s0306261922000770

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/405891/bibliographic
http://www.elsevier. ... 405891/bibliographic

DOI: 10.1016/j.apenergy.2022.118599

Access Statistics for this article

Applied Energy is currently edited by J. Yan

More articles in Applied Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().