IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v310y2024ics0360544224029876.html
   My bibliography  Save this article

Optimal scheduling of a multi-energy complementary system simultaneously considering the trading of carbon emission and green certificate

Author

Listed:
  • Wang, Xinyu
  • Chen, Heng
  • Tong, Xi
  • Gao, Yue
  • Pan, Peiyuan
  • Liu, Wenyi

Abstract

This paper uses a multi-energy complementary system composed of thermal, wind, photovoltaic power generation, and electric energy storage units to participate in four market mechanisms and construct the optimal scheduling model of these trading mechanisms. These four mechanisms are carbon emission trading, green certificate trading, these two trading that are not joint, and joint. Under the latter two mechanisms, the excess carbon emissions of the system can be reduced to 9258t, and the utilization rate of renewable energy can reach 100 %. However, the operating costs under the fourth mechanism are 9695.80 $ lower than the third one because 5947 pieces of green certificates are converted into carbon emission rights. When the carbon price rises, the cost of the fourth mechanism increases slower than that of the third mechanism. The conversion volume of green certificates increases from 5947 to 10947, and the cost difference between the two increases to 67558.33 $. When green certificate prices rise, the cost under the fourth trading mechanism decreases faster. As that cost steadily declines, the carbon emission rights are converted into 907 green certificates, and the cost difference between this and the third mechanism increases to 4695.52 $.

Suggested Citation

  • Wang, Xinyu & Chen, Heng & Tong, Xi & Gao, Yue & Pan, Peiyuan & Liu, Wenyi, 2024. "Optimal scheduling of a multi-energy complementary system simultaneously considering the trading of carbon emission and green certificate," Energy, Elsevier, vol. 310(C).
    • Handle: RePEc:eee:energy:v:310:y:2024:i:c:s0360544224029876
    DOI: 10.1016/j.energy.2024.133212
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544224029876
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2024.133212?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Liu, Da & Jiang, Yan & Peng, Chuan & Jian, Jianhui & Zheng, Jing, 2024. "Can green certificates substitute for renewable electricity subsidies? A Chinese experience," Renewable Energy, Elsevier, vol. 222(C).
    2. Yang, Shenbo & Tan, Zhongfu & Lin, Hongyu & Li, Peng & De, Gejirifu & Zhou, Feng’ao & Ju, Liwei, 2020. "A two-stage optimization model for Park Integrated Energy System operation and benefit allocation considering the effect of Time-Of-Use energy price," Energy, Elsevier, vol. 195(C).
    3. Wang, Haibing & Zhao, Anjie & Khan, Muhammad Qasim & Sun, Weiqing, 2024. "Optimal operation of energy hub considering reward-punishment ladder carbon trading and electrothermal demand coupling," Energy, Elsevier, vol. 286(C).
    4. Khan, Khalid & Khurshid, Adnan & Cifuentes-Faura, Javier & Xianjun, Dai, 2024. "Does renewable energy development enhance energy security?," Utilities Policy, Elsevier, vol. 87(C).
    5. Liu, Dewen & Luo, Zhao & Qin, Jinghui & Wang, Hua & Wang, Gang & Li, Zhao & Zhao, Weijie & Shen, Xin, 2023. "Low-carbon dispatch of multi-district integrated energy systems considering carbon emission trading and green certificate trading," Renewable Energy, Elsevier, vol. 218(C).
    6. Yan, Sizhe & Wang, Weiqing & Li, Xiaozhu & Maimaiti, Pakezhati & Zhao, Yi, 2024. "Cross-regional green certificate transaction strategies based on a double-layer game model," Applied Energy, Elsevier, vol. 356(C).
    7. Tian, Jiaqiang & Fan, Yuan & Pan, Tianhong & Zhang, Xu & Yin, Jianning & Zhang, Qingping, 2024. "A critical review on inconsistency mechanism, evaluation methods and improvement measures for lithium-ion battery energy storage systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 189(PB).
    8. Sun, Xiaocong & Bao, Minglei & Ding, Yi & Hui, Hengyu & Song, Yonghua & Zheng, Chenghang & Gao, Xiang, 2024. "Modeling and evaluation of probabilistic carbon emission flow for power systems considering load and renewable energy uncertainties," Energy, Elsevier, vol. 296(C).
    9. Li, Xiaozhu & Wang, Weiqing & Wang, Haiyun & Wu, Jiahui & Fan, Xiaochao & Xu, Qidan, 2020. "Dynamic environmental economic dispatch of hybrid renewable energy systems based on tradable green certificates," Energy, Elsevier, vol. 193(C).
    10. Karakosta, Ourania & Petropoulou, Dimitra, 2022. "The EU electricity market: Renewables targets, Tradable Green Certificates and electricity trade," Energy Economics, Elsevier, vol. 111(C).
    11. Ji, Chun-Yi & Tan, Zi-Kai & Chen, Bin-Jia & Zhou, Ding-Ce & Qian, Wu-Yong, 2024. "The impact of environmental policies on renewable energy investment decisions in the power supply chain," Energy Policy, Elsevier, vol. 186(C).
    12. Teng, Minmin & Lv, Kunfeng & Han, Chuanfeng & Liu, Pihui, 2023. "Trading behavior strategy of power plants and the grid under renewable portfolio standards in China: A tripartite evolutionary game analysis," Energy, Elsevier, vol. 284(C).
    13. Shang, Yuping & Sang, Shenghu & Tiwari, Aviral Kumar & Khan, Salahuddin & Zhao, Xin, 2024. "Impacts of renewable energy on climate risk: A global perspective for energy transition in a climate adaptation framework," Applied Energy, Elsevier, vol. 362(C).
    14. Ma, Ning & Fan, Lurong, 2023. "Double recovery strategy of carbon for coal-to-power based on a multi-energy system with tradable green certificates," Energy, Elsevier, vol. 273(C).
    15. Bel, Germà & Joseph, Stephan, 2015. "Emission abatement: Untangling the impacts of the EU ETS and the economic crisis," Energy Economics, Elsevier, vol. 49(C), pages 531-539.
    16. Xu, Haoyuan & Chen, Gengxuan & Sarwar, Bilal & Shahzad, Imran, 2024. "Sustainable development and mineral resource extraction in China: Exploring the role of mineral resources, energy efficiency and renewable energy," Resources Policy, Elsevier, vol. 90(C).
    17. Gao, Jianwei & Meng, Qichen & Liu, Jiangtao & Wang, Ziying, 2024. "Thermoelectric optimization of integrated energy system considering wind-photovoltaic uncertainty, two-stage power-to-gas and ladder-type carbon trading," Renewable Energy, Elsevier, vol. 221(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Bian, Yifan & Xie, Lirong & Ma, Lan & Zhang, Hangong, 2024. "A novel two-stage energy sharing method for data center cluster considering ‘Carbon-Green Certificate’ coupling mechanism," Energy, Elsevier, vol. 313(C).
    2. Yang, Xiaohui & Wu, Chilv & Huang, Zezhong & Wang, Xiaopeng & Wang, Zhicong & Deng, Fuwei & Hu, Zecheng, 2025. "A two-stage dynamic planning for rural hybrid renewable energy systems under coupled carbon-green certificate trading," Energy, Elsevier, vol. 316(C).
    3. Zifan Tang & Yue Yin & Chao Chen & Changle Liu & Zhuoxun Li & Benyao Shi, 2025. "A Synergistic Planning Framework for Low-Carbon Power Systems: Integrating Coal-Fired Power Plant Retrofitting with a Carbon and Green Certificate Market Coupling Mechanism," Energies, MDPI, vol. 18(9), pages 1-24, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Guo, Xiaopeng & Wang, Liyi & Ren, Dongfang, 2025. "Optimal scheduling model for virtual power plant combining carbon trading and green certificate trading," Energy, Elsevier, vol. 318(C).
    2. Tong, Xi & Zhao, Shuyuan & Chen, Heng & Wang, Xinyu & Liu, Wenyi & Sun, Ying & Zhang, Lei, 2025. "Optimal dispatch of a multi-energy complementary system containing energy storage considering the trading of carbon emission and green certificate in China," Energy, Elsevier, vol. 314(C).
    3. Chen, Yuzhu & Guo, Weimin & Lund, Peter D. & Du, Na & Yang, Kun & wang, Jun, 2024. "Configuration optimization of a wind-solar based net-zero emission tri-generation energy system considering renewable power and carbon trading mechanisms," Renewable Energy, Elsevier, vol. 232(C).
    4. Yang, Xiaohui & Wu, Chilv & Huang, Zezhong & Wang, Xiaopeng & Wang, Zhicong & Deng, Fuwei & Hu, Zecheng, 2025. "A two-stage dynamic planning for rural hybrid renewable energy systems under coupled carbon-green certificate trading," Energy, Elsevier, vol. 316(C).
    5. Shen, Yedan & Liu, Wei & Dinçer, Hasan & Yüksel, Serhat, 2025. "Hybrid molecular fuzzy recommender systems for impact of climate change on renewable energy performance," Renewable Energy, Elsevier, vol. 245(C).
    6. Li, Xu & Deng, Jianhua & Liu, Jichun, 2025. "Energy–carbon–green certificates management strategy for integrated energy system using carbon–green certificates double-direction interaction," Renewable Energy, Elsevier, vol. 238(C).
    7. Di Wang & Qiyue Wu & Junyan Guo, 2025. "Research on Strategy Selection of Power Supply Chain Under Renewable Energy Consumption and Energy Storage Cost Sharing," Sustainability, MDPI, vol. 17(10), pages 1-28, May.
    8. Yang, Zhaofu & Liu, Hong & Yuan, Yongna & Li, Muhua, 2024. "Can renewable energy development facilitate China's sustainable energy transition? Perspective from Energy Trilemma," Energy, Elsevier, vol. 304(C).
    9. Liu, Dewen & Luo, Zhao & Qin, Jinghui & Wang, Hua & Wang, Gang & Li, Zhao & Zhao, Weijie & Shen, Xin, 2023. "Low-carbon dispatch of multi-district integrated energy systems considering carbon emission trading and green certificate trading," Renewable Energy, Elsevier, vol. 218(C).
    10. Li, Ruhuan & Zhou, Jun & Qiu, Zitong & Li, Haonan & Li, Jinman & Wu, Ji & Wu, Kai, 2025. "Bi-level optimization of hybrid energy conversion system based on a multi-distinct low-carbon microgrid," Renewable Energy, Elsevier, vol. 239(C).
    11. Xin Huang & Junjie Zhong & Maner Xiao & Yuhui Zhu & Haojie Zheng & Bensheng Zheng, 2025. "Optimal and Sustainable Scheduling of Integrated Energy System Coupled with CCS-P2G and Waste-to-Energy Under the “Green-Carbon” Offset Mechanism," Sustainability, MDPI, vol. 17(11), pages 1-27, May.
    12. Stamatios K. Chrysikopoulos & Panos T. Chountalas & Dimitrios A. Georgakellos & Athanasios G. Lagodimos, 2024. "Green Certificates Research: Bibliometric Assessment of Current State and Future Directions," Sustainability, MDPI, vol. 16(3), pages 1-45, January.
    13. Chen, Yuzhu & Guo, Weimin & Du, Na & Yang, Kun & Wang, Jiangjiang, 2024. "Master slave game-based optimization of an off-grid combined cooling and power system coupled with solar thermal and photovoltaics considering carbon cost allocation," Renewable Energy, Elsevier, vol. 229(C).
    14. He, Jiaming & Tan, Qinliang & Lv, Hanyu, 2025. "Data-driven climate resilience assessment for distributed energy systems using diffusion transformer and polynomial expansions," Applied Energy, Elsevier, vol. 380(C).
    15. Fan, Ying & Jia, Jun-Jun & Wang, Xin & Xu, Jin-Hua, 2017. "What policy adjustments in the EU ETS truly affected the carbon prices?," Energy Policy, Elsevier, vol. 103(C), pages 145-164.
    16. Ren, Shenggang & Hu, Yucai & Zheng, Jingjing & Wang, Yangjie, 2020. "Emissions trading and firm innovation: Evidence from a natural experiment in China," Technological Forecasting and Social Change, Elsevier, vol. 155(C).
    17. Haibo Jia & Hao Yun & Khalid Khan, 2025. "Does the Russia-Ukraine war cause exchange rate depreciation? Evidence from the rouble exchange rate," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 24(2), pages 225-239, May.
    18. Quemin, Simon & Trotignon, Raphaël, 2021. "Emissions trading with rolling horizons," Journal of Economic Dynamics and Control, Elsevier, vol. 125(C).
    19. Kristiana Dolge & Dagnija Blumberga, 2023. "Transitioning to Clean Energy: A Comprehensive Analysis of Renewable Electricity Generation in the EU-27," Energies, MDPI, vol. 16(18), pages 1-27, September.
    20. Xia, Chunxun & Balsalobre-Lorente, Daniel & Raza Syed, Qasim, 2025. "Electricity generation from renewable and non-renewable energy sources in China: The role of environmental policy stringency, FDI, and economic growth," Energy, Elsevier, vol. 318(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:310:y:2024:i:c:s0360544224029876. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.