IDEAS home Printed from https://ideas.repec.org/a/eee/renene/v238y2025ics0960148124020056.html
   My bibliography  Save this article

Energy–carbon–green certificates management strategy for integrated energy system using carbon–green certificates double-direction interaction

Author

Listed:
  • Li, Xu
  • Deng, Jianhua
  • Liu, Jichun

Abstract

Deepening the coupling of energy, carbon and green certificate markets can not only decrease greenhouse gases emission and promote green energy absorption, but also contributes to the realization of low-carbon transformation for integrated energy system. This paper proposes a novel double-direction interaction mechanism for carbon and green certificate, and studies an energy–carbon–green certificate integrated pricing method. Firstly, the linkage relation of electricity–gas–carbon is analyzed according to the carbon emission differences for different sources of electricity and natural gas. Secondly, a double-direction interaction mechanism between carbon and green certificate is established based on the carbon emission reduction property of green certificate and the promoting green electricity property of carbon emission quota. Combining the above two points, a more complete and closer linkage relations among electricity, gas, carbon and green certificate are constructed. Thirdly, carbon tax and multi-interaction intensity indexes are introduced to develop an integrated pricing method for energy–carbon–green certificate. Finally, five optimal interaction scheduling models are solved. The simulation results verify the feasibility of the proposed interaction mechanism and integrated price on accelerating low-carbon operation, lowering operating cost and reducing the dependence on external networks. And the total cost and carbon emission decrease by 12.65% and 3.04%, and renewable energy absorption rate increases by 4.06%.

Suggested Citation

  • 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).
    • Handle: RePEc:eee:renene:v:238:y:2025:i:c:s0960148124020056
    DOI: 10.1016/j.renene.2024.121937
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0960148124020056
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.renene.2024.121937?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 search for a different version of it.

    References listed on IDEAS

    as
    1. Bailera, Manuel & Lisbona, Pilar & Romeo, Luis M. & Espatolero, Sergio, 2017. "Power to Gas projects review: Lab, pilot and demo plants for storing renewable energy and CO2," Renewable and Sustainable Energy Reviews, Elsevier, vol. 69(C), pages 292-312.
    2. Wang, Ge & Zhang, Qi & Su, Bin & Shen, Bo & Li, Yan & Li, Zhengjun, 2021. "Coordination of tradable carbon emission permits market and renewable electricity certificates market in China," Energy Economics, Elsevier, vol. 93(C).
    3. Yan, Sizhe & Wang, Weiqing & Li, Xiaozhu & Lv, Haipeng & Fan, Tianyuan & Aikepaer, Sumaiya, 2023. "Stochastic optimal scheduling strategy of cross-regional carbon emissions trading and green certificate trading market based on Stackelberg game," Renewable Energy, Elsevier, vol. 219(P1).
    4. Wang, Rutian & Wen, Xiangyun & Wang, Xiuyun & Fu, Yanbo & Zhang, Yu, 2022. "Low carbon optimal operation of integrated energy system based on carbon capture technology, LCA carbon emissions and ladder-type carbon trading," Applied Energy, Elsevier, vol. 311(C).
    5. Xin-gang, Zhao & Ling-zhi, Ren & Yu-zhuo, Zhang & Guan, Wan, 2018. "Evolutionary game analysis on the behavior strategies of power producers in renewable portfolio standard," Energy, Elsevier, vol. 162(C), pages 505-516.
    6. Li, Yanbin & Zhang, Feng & Li, Yun & Wang, Yuwei, 2021. "An improved two-stage robust optimization model for CCHP-P2G microgrid system considering multi-energy operation under wind power outputs uncertainties," Energy, Elsevier, vol. 223(C).
    7. Feng, Tian-tian & Yang, Yi-sheng & Yang, Yu-heng, 2018. "What will happen to the power supply structure and CO2 emissions reduction when TGC meets CET in the electricity market in China?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 92(C), pages 121-132.
    8. Guo, Xiaopeng & Zhang, Xinyue & Zhang, Xingping, 2024. "Incentive-oriented power‑carbon emissions trading-tradable green certificate integrated market mechanisms using multi-agent deep reinforcement learning," Applied Energy, Elsevier, vol. 357(C).
    9. Dai, Hancheng & Xie, Yang & Liu, Jingyu & Masui, Toshihiko, 2018. "Aligning renewable energy targets with carbon emissions trading to achieve China's INDCs: A general equilibrium assessment," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 4121-4131.
    10. 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).
    11. Ma, Siyuan & Mi, Yang & Shi, Shuai & Li, Dongdong & Xing, Haijun & Wang, Peng, 2024. "Low-carbon economic operation of energy hub integrated with linearization model and nodal energy-carbon price," Energy, Elsevier, vol. 294(C).
    12. 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).
    13. Li, Xu & Deng, Jianhua & Liu, Jichun, 2024. "A two-layer and three-stage dynamic demand response game model considering the out of sync response for gases generators," Renewable Energy, Elsevier, vol. 228(C).
    14. Chang, Xin & Wu, Zhaoyuan & Wang, Jingting & Zhang, Xingyu & Zhou, Ming & Yu, Tao & Wang, Yuyang, 2023. "The coupling effect of carbon emission trading and tradable green certificates under electricity marketization in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 187(C).
    15. Wang, Yun & Xie, Haipeng & Sun, Xiaotian & Tang, Lingfeng & Bie, Zhaohong, 2022. "A cross-chain enabled day-ahead collaborative power-carbon-TGC market," Energy, Elsevier, vol. 258(C).
    16. Ju, Liwei & Lv, ShuoShuo & Zhang, Zheyu & Li, Gen & Gan, Wei & Fang, Jiangpeng, 2024. "Data-driven two-stage robust optimization dispatching model and benefit allocation strategy for a novel virtual power plant considering carbon-green certificate equivalence conversion mechanism," Applied Energy, Elsevier, vol. 362(C).
    17. Tan, Qinliang & Ding, Yihong & Zheng, Jin & Dai, Mei & Zhang, Yimei, 2021. "The effects of carbon emissions trading and renewable portfolio standards on the integrated wind–photovoltaic–thermal power-dispatching system: Real case studies in China," Energy, Elsevier, vol. 222(C).
    18. Li, Bo & Li, Xu & Su, Qingyu, 2022. "A system and game strategy for the isolated island electric-gas deeply coupled energy network," Applied Energy, Elsevier, vol. 306(PA).
    Full references (including those not matched with items on IDEAS)

    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. Zhang, Xinyue & Guo, Xiaopeng & Zhang, Xingping, 2024. "Mutual conversion mechanisms for environmental interest products to jointly enhance synergistic effect between power, CET and TGC markets in China," Energy Economics, Elsevier, vol. 131(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. Zhang, Xinyue & Guo, Xiaopeng & Zhang, Xingping, 2023. "Assessing the policy synergy among power, carbon emissions trading and tradable green certificate market mechanisms on strategic GENCOs in China," Energy, Elsevier, vol. 278(PB).
    4. Yang, Xiaohui & Zhang, Zhonglian & Mei, Linghao & Wang, Xiaopeng & Deng, Yeheng & Wei, Shi & Liu, Xiaoping, 2023. "Optimal configuration of improved integrated energy system based on stepped carbon penalty response and improved power to gas," Energy, Elsevier, vol. 263(PD).
    5. Li, Jialin & Hu, Yu & Chi, Yuanying & Liu, Dunnan & Yang, Shuxia & Gao, Zhiyuan & Chen, Yuetong, 2024. "Analysis on the synergy between markets of electricity, carbon, and tradable green certificates in China," Energy, Elsevier, vol. 302(C).
    6. 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).
    7. Zhang, Qian & Wang, Daxin & Zhao, Chanjuan & Wang, Xunting & Ding, Jinjin & Wang, Haiwei & Zhang, Xuemeng, 2024. "Low-carbon operation of smart distribution grid based on life cycle assessment and ladder-type carbon trading," Renewable Energy, Elsevier, vol. 231(C).
    8. 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).
    9. Lin, Chun-Cheng & Shen, Hong-Yu & Peng, Yi-Chun & Liu, Wan-Yu, 2025. "Residential energy considering renewable portfolio standards and tradable green certificates," Renewable and Sustainable Energy Reviews, Elsevier, vol. 207(C).
    10. Song, Xiao-hua & Han, Jing-jing & Zhang, Lu & Zhao, Cai-ping & Wang, Peng & Liu, Xiao-yan & Li, Qiao-chu, 2021. "Impacts of renewable portfolio standards on multi-market coupling trading of renewable energy in China: A scenario-based system dynamics model," Energy Policy, Elsevier, vol. 159(C).
    11. Ying, Zhou & Xin-gang, Zhao, 2021. "The impact of Renewable Portfolio Standards on carbon emission trading under the background of China’s electricity marketization reform," Energy, Elsevier, vol. 226(C).
    12. Zhu, Xiaoxun & Hu, Ming & Xue, Jinfei & Li, Yuxuan & Han, Zhonghe & Gao, Xiaoxia & Wang, Yu & Bao, Linlin, 2024. "Research on multi-time scale integrated energy scheduling optimization considering carbon constraints," Energy, Elsevier, vol. 302(C).
    13. Wu, Jiaqian & Zheng, Xiaolin & Yu, Songmin & Yu, Lean, 2024. "Modeling multi-market coupling effects considering the consumption above quota trading market in renewable portfolio standards: An agent-based perspective," Energy Economics, Elsevier, vol. 138(C).
    14. Zhang, Jinliang & Liu, Ziyi & Liu, Yishuo, 2025. "A scheduling optimization model for a gas-electricity interconnected virtual power plant considering green certificates-carbon joint trading and source-load uncertainties," Energy, Elsevier, vol. 315(C).
    15. Yue, Tingyi & Wang, Honglei & Li, Chengjiang & Hu, Yu-jie, 2024. "Optimization strategies for green power and certificate trading in China considering seasonality: An evolutionary game-based system dynamics," Energy, Elsevier, vol. 311(C).
    16. Hu, Yu & Chi, Yuanying & Zhou, Wenbing & Li, Jialin & Wang, Zhengzao & Yuan, Yongke, 2023. "The interactions between renewable portfolio standards and carbon emission trading in China: An evolutionary game theory perspective," Energy, Elsevier, vol. 271(C).
    17. Xu, Jiazhu & Yi, Yuqin, 2023. "Multi-microgrid low-carbon economy operation strategy considering both source and load uncertainty: A Nash bargaining approach," Energy, Elsevier, vol. 263(PB).
    18. Du, Dajun & Zhu, Minggao & Wu, Dakui & Li, Xue & Fei, Minrui & Hu, Yukun & Li, Kang, 2024. "Distributed security state estimation-based carbon emissions and economic cost analysis for cyber–physical power systems under hybrid attacks," Applied Energy, Elsevier, vol. 353(PA).
    19. Liu, Zhi-Feng & Luo, Xing-Fu & Chen, Xiao-Rui & Huang, Ya-He & Liu, You-Yuan & Tang, Yu & Kang, Qing & Guo, Liang, 2024. "An innovative bi-level scheduling model with hydrogen-thermal-electricity co-supply and dynamic carbon capture strategies for regional integrated energy systems considering hybrid games," Renewable Energy, Elsevier, vol. 237(PB).
    20. 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).

    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:renene:v:238:y:2025:i:c:s0960148124020056. 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/renewable-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.