Multiobjective optimization for carbon market scheduling based on behavior learning

Li, Dan; Hua, Weiqi; Sun, Hongjian; Chiu, Wei-Yu

Abstract

With advances of smart grid, the responsibility of carbon emission reduction can be fairly allocated to each participant in power networks through bidirectional communications. This paper proposes a hierarchical carbon market scheduling model to effectively realize carbon emission reduction. The policy makers in the upper level aim to maximize the effects of carbon emission reduction. They set out appropriate monetary incentives and emission allowances for both customers and generators. Considering restrictions from policy makers, both generators and customers in lower levels seek to minimize their operational costs and payment bills, respectively. To achieve these objectives, a multiobjective problem is formulated by forecasting market trends from a behavior learning model. The simulation results demonstrate that through the proposed approach the renewable penetration increases and the carbon emissions decrease. The benefits for each participant are analyzed as well.

Citation

Li, D., Hua, W., Sun, H., & Chiu, W.-Y. (2017, December). Multiobjective optimization for carbon market scheduling based on behavior learning

• Presentation Conference Type: Conference Paper (published)
• Acceptance Date: May 30, 2017
• Online Publication Date: Jan 31, 2018
• Publication Date: Dec 1, 2017
• Deposit Date: Aug 1, 2017
• Publicly Available Date: Aug 1, 2017
• Volume: 142
• Pages: 2089-2094
• Series ISSN: 1876-6102
• DOI: https://doi.org/10.1016/j.egypro.2017.12.581
• Public URL: https://durham-repository.worktribe.com/output/1145881