A framework for analyzing trade-offs in cost and emissions in power sector

Pankaj Kumar, Rangan Banerjee and Trupti Mishra

Energy, 2020, vol. 195, issue C

Abstract: Current electricity markets operate on a cost minimizing objective for power supply. However, countries across the world need to decarbonize their power systems in line with their policy objectives to mitigate climate change. In this context, this paper presents a framework to analyze synergies and trade-offs in cost and emission minimization strategies in the power sector. Emission minimizing objective can reduce emissions from existing fleets having flexibility in electricity supply, regardless of renewable energy capacity additions. This framework can also provide us with win-win strategies for reducing emissions while keeping costs low.

Keywords: Optimization; Emission mitigation; Operation strategy (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:195:y:2020:i:c:s0360544220300566

DOI: 10.1016/j.energy.2020.116949

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