2023/01/30 by Xuyang Li, Li, Xuyang, Guangchun Ruan +3 · 1 citation
Economics, Econometrics and Finance · Engineering · #Climate Change Policy and Economics #Computer Science and Game Theory (cs.GT) #Electric Power System Optimization #FOS: Computer and information sciences #FOS: Electrical engineering #Integrated Energy Systems Optimization #Systems and Control (eess.SY) #electronic engineering #information engineering
paper · pdf · doi:10.48550/arxiv.2301.12956
openalex publication_date 2023/01/30 · openalex created_date 2023/02/01 · openalex updated_date 2026/07/28
Decarbonization of power systems plays a crucial role in achieving carbon neutral goals across the globe, but there exists a sharp contradiction between the emission reduction and levelized generation cost. Therefore, it is of great importance for power system operators to take economic as well as low-carbon factors into account. This paper establishes a low-carbon economic dispatch model of bulk power systems based on Nash bargaining game, which derives a Nash bargaining solution making a reasonable trade-off between economic and low-carbon objectives. Because the Nash bargaining solution satisfies Pareto effectiveness, we analyze the computational complexity of Pareto frontiers with parametric linear programming and interpret the inefficiency of the method. Instead, we assign a group of dynamic weights in the objective function of the proposed low-carbon economic dispatch model so as to improve the computational efficiency by decoupling time periods and avoiding the complete computation of Pareto frontiers. In the end, we validate the proposed model and the algorithm by a realistic nationwide simulation in mainland China.