A low-carbon economic dispatch for integrated energy systems with CCUS considering multi-time-scale allocation of carbon allowance

Zhengkun Shi, Yongbiao Yang, Qingshan Xu, Chenyu Wu and Kui Hua

Applied Energy, 2023, vol. 351, issue C, No S0306261923012059

Abstract: The carbon allowance trading mechanism provides an economic basis to facilitate emission reductions for market participants. As a compliance mechanism, allowance-based emission control demands emitter to surrender the same amount of carbon allowances as it emits during the accounting period, the duration of which is often set to one year by the administrators. This requires emitters to determine the upper limit of annual emissions and allocate it to each day based on the current carbon price to minimize their overall operating costs over the longer carbon accounting period. This paper proposes a low-carbon economic dispatch for IES with CCUS considering multi-time-scale allocation of carbon allowance. In the upper level, a scenario-based stochastic optimization is adopted to decide the annual allowance and complete the allocation from year to month and then from month to day. The lower level is a Wasserstein ambiguity set-based two-stage distributionally robust optimization (TSDRO) model to find the optimal dispatch strategy of each day. The uncertainty from the long-term available renewable energy resources and user demands and from the short-term forecasting errors is both considered. Simulation results show that the proposed model can realize reasonable carbon allocation and decrease the annual operation costs.

Keywords: Integrated energy system; Multi-time-scale; Carbon trading; Low-carbon economic dispatch (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0306261923012059
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:351:y:2023:i:c:s0306261923012059

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.2023.121841

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 ().