2023/04/28 by Su Meyra Tatar, Tatar, Su Meyra, Erdal Aydın +1
Economics, Econometrics and Finance · Energy · Engineering · Mathematics · #Carbon tax #Climate Change Policy and Economics #Economics #Electrical engineering #Electricity #Energy, Environment, and Transportation Policies #Engineering #Environmental economics #Environmental science #FOS: Mathematics #Greenhouse gas #Integrated Energy Systems Optimization #Mathematical optimization #Mathematics #Optimization and Control (math.OC) #Population #Renewable energy #Stochastic programming #Wind power
paper · pdf · doi:10.48550/arxiv.2304.14709
published in arXiv (Cornell University) (Cornell University)
openalex publication_date 2023/04/28 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
The regulations regarding the Paris Agreement are planned to be adapted soon to keep the global temperature rise within 2 0C. Additionally, integrating renewable energy-based equipment and adopting new ways of producing energy resources, for example Power to Gas technology, becomes essential because of the current environmental and political concerns. Moreover, it is vital to supply the growing energy demand with the increasing population. Uncertainty must be considered in the transition phase since parameters regarding the electricity demand, carbon tax policies, and intermittency of renewable energy-based equipment have intermittent nature. A multi-period two-stage stochastic MILP model is proposed in this work where the wind speed, solar irradiance, temperature, power demand, carbon emission trading (CET) price, and CO2 emission limit are considered uncertain parameters. This model finds one single optimal design for the energy grid while considering several scenarios regarding uncertainties simultaneously. Three stochastic case studies with scenarios including different combinations of the aforementioned uncertain parameters are investigated. Results show that more renewable energy-based equipment with higher rated power values is chosen as the sanctions get stricter. In addition, the optimality of PtG technology is also investigated for a specific location. Implementing the CO2 emission limit as an uncertain parameter instead of including CET price as an uncertain parameter results in lower annual CO2 emission rates and higher net present cost values. Keywords: optimal renewable energy integration, power-to-gas, two-stage stochastic programming, carbon trade, carbon price, green hydrogen