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The influence of carbon dioxide trading scheme on economic dispatch of generators

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  • Tsai, Ming-Tang
  • Yen, Chih-Wei

Abstract

This paper aims at probing into the topic of power units’ operation and dispatch based on Carbon Dioxide (CO2) trading scheme. The trading cost of CO2 emission is embedded into the traditional economic dispatch model, which will be solved by the New Particle Swarm Optimization (NPSO). By considering the CO2 trading scheme, the influences of the various strategies for unit’s dispatch are simulated and analyzed in this paper. The proposed method, NPSO is developed in such a way that PSO with Constriction Factor (PSO-CF) algorithm is applied as a based level search. NPSO introduces two operators, “Random Particles” and “Fine-Tuning” into the PSO-CF algorithm to improve the drawback of searching global optimum and make the search method more efficient at the end of search. The efficiency and ability of NPSO is demonstrated by the six generating units. Simulation results indicated that reasonable solutions provide a practical and flexible framework for power sectors. They can be also used for generating alternatives and thus help decision makers to obtain the goals of minimal operation cost under their desired emission’s policies.

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  • Tsai, Ming-Tang & Yen, Chih-Wei, 2011. "The influence of carbon dioxide trading scheme on economic dispatch of generators," Applied Energy, Elsevier, vol. 88(12), pages 4811-4816.
    • Handle: RePEc:eee:appene:v:88:y:2011:i:12:p:4811-4816
    DOI: 10.1016/j.apenergy.2011.06.025
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    7. Jin, Jingliang & Wen, Qinglan & Cheng, Siqi & Qiu, Yaru & Zhang, Xianyue & Guo, Xiaojun, 2022. "Optimization of carbon emission reduction paths in the low-carbon power dispatching process," Renewable Energy, Elsevier, vol. 188(C), pages 425-436.
    8. Zhang, Xiaodong & Duncan, Ian J. & Huang, Gordon & Li, Gongchen, 2014. "Identification of management strategies for CO2 capture and sequestration under uncertainty through inexact modeling," Applied Energy, Elsevier, vol. 113(C), pages 310-317.
    9. Zou, Dexuan & Li, Steven & Wang, Gai-Ge & Li, Zongyan & Ouyang, Haibin, 2016. "An improved differential evolution algorithm for the economic load dispatch problems with or without valve-point effects," Applied Energy, Elsevier, vol. 181(C), pages 375-390.
    10. Wei, Wei & Liu, Feng & Wang, Jianhui & Chen, Laijun & Mei, Shengwei & Yuan, Tiejiang, 2016. "Robust environmental-economic dispatch incorporating wind power generation and carbon capture plants," Applied Energy, Elsevier, vol. 183(C), pages 674-684.
    11. Shin, Hansol & Kim, Tae Hyun & Kim, Hyoungtae & Lee, Sungwoo & Kim, Wook, 2019. "Environmental shutdown of coal-fired generators for greenhouse gas reduction: A case study of South Korea," Applied Energy, Elsevier, vol. 252(C), pages 1-1.
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