Operation strategy for a net-zero emissions park microgrid with multi-stakeholders: A multi-objective with bi-level optimization approach

Microgrids are essential for achieving stable, carbon-neutral power systems, with park-level projects being key implementations. However, research gaps persist in addressing complex operational scheduling and multi-stakeholder coordination challenges. This study develops a novel park-level microgrid integrating biomass-to-gas, carbon removals, and hydrogen storage to achieve net-zero emissions. We establish a bi-level optimization framework that integrates long-term planning and short-term operations, where the upper level minimizes lifecycle costs while the lower level simultaneously optimizes operational profits and risk mitigation. The nonlinear problem is solved using a decomposition-based multi-objective evolutionary algorithm. A hybrid mechanism combining Shapley value principles with Nash bargaining theory is further proposed to equitably allocate benefits based on stakeholders’ contributions to profit, risk reduction, and carbon mitigation. Empirical analysis shows carbon removal technologies can enhance system stability and energy utilization. Medium-to-high carbon prices boost operating profits by 131.7%–170.1 % and lower capital costs by 21.8%–29.9 %, while achieving negative emissions. The proposed model improves stakeholder satisfaction by 7.8 % compared to traditional methods. Sensitivity analysis reveals hydrogen prices below 19 ¥/kg risk losses, recommending high carbon price deployment for financial risk mitigation. This framework provides a robust approach for designing sustainable, economically viable park-level microgrids, enabling equal multi-stakeholder benefit allocation and risk-aware operational optimization.