Effect of Renewable Energy to Reduce Carbon Emissions under a Flexible Production System: A Step Toward Sustainability

Mitali Sarkar and Byung Do Chung
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Mitali Sarkar: Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, Korea
Byung Do Chung: Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, Korea

Energies, 2021, vol. 14, issue 1, 1-14

Abstract: Renewable energy and environmental issues are receiving considerable attention worldwide along with the technological development of production system for reducing global warming. Due to the use of smart technologies, the rate of carbon emission and energy utilization have become very high and are directly related to different industries. This study focuses on the effect of renewable energy on the advancement of smart production with a flexible production rate as well as the reduction of carbon emission to build a sustainable smart production system. A mathematical model is developed to maximize the profit of the smart production system for economic development while considering technological and environmental issues. The model is solved analytically, and we obtain closed and quasi-closed form solutions. A numerical experiment is performed, and a comparison with previous studies indicates that our method achieves more profit than existing ones. Additionally, we highlight the major effect of renewable energy. Different graphical representations of the decision variables prove the convergence of the model. A sensitivity analysis and graphical representation are presented in this paper, and some recommendations for industry are provided by simulating this model in different scenarios.

Keywords: renewable energy; sustainable smart production system; flexible production rate; carbon emission (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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