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Effect of Renewable Energy to Reduce Carbon Emissions under a Flexible Production System: A Step Toward Sustainability

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  • Mitali Sarkar

    (Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, Korea)

  • Byung Do Chung

    (Department of Industrial Engineering, Yonsei University, 50 Yonsei-ro, Sinchon-dong, Seodaemun-gu, Seoul 03722, Korea)

Abstract

Renewable energy and environmental issues are receiving considerable attention worldwide along with the technological development of production system for reducing global warming. Due to the use of smart technologies, the rate of carbon emission and energy utilization have become very high and are directly related to different industries. This study focuses on the effect of renewable energy on the advancement of smart production with a flexible production rate as well as the reduction of carbon emission to build a sustainable smart production system. A mathematical model is developed to maximize the profit of the smart production system for economic development while considering technological and environmental issues. The model is solved analytically, and we obtain closed and quasi-closed form solutions. A numerical experiment is performed, and a comparison with previous studies indicates that our method achieves more profit than existing ones. Additionally, we highlight the major effect of renewable energy. Different graphical representations of the decision variables prove the convergence of the model. A sensitivity analysis and graphical representation are presented in this paper, and some recommendations for industry are provided by simulating this model in different scenarios.

Suggested Citation

  • Mitali Sarkar & Byung Do Chung, 2021. "Effect of Renewable Energy to Reduce Carbon Emissions under a Flexible Production System: A Step Toward Sustainability," Energies, MDPI, vol. 14(1), pages 1-14, January.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:1:p:215-:d:474183
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    References listed on IDEAS

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    1. Mitali Sarkar & Biswajit Sarkar & Muhammad Waqas Iqbal, 2018. "Effect of Energy and Failure Rate in a Multi-Item Smart Production System," Energies, MDPI, vol. 11(11), pages 1-21, October.
    2. Glock, C. H., 2009. "A Comment: "Integrated single vendor single buyer model with stochastic demand and variable lead time"," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 57828, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    3. Sarkar, Biswajit & Sarkar, Mitali & Ganguly, Baishakhi & Cárdenas-Barrón, Leopoldo Eduardo, 2021. "Combined effects of carbon emission and production quality improvement for fixed lifetime products in a sustainable supply chain management," International Journal of Production Economics, Elsevier, vol. 231(C).
    4. Mitali Sarkar & Byung Do Chung, 2020. "Flexible work-in-process production system in supply chain management under quality improvement," International Journal of Production Research, Taylor & Francis Journals, vol. 58(13), pages 3821-3838, July.
    5. Wang, Zhaohua & Bui, Quocviet & Zhang, Bin & Nawarathna, Chulan Lasantha K. & Mombeuil, Claudel, 2021. "The nexus between renewable energy consumption and human development in BRICS countries: The moderating role of public debt," Renewable Energy, Elsevier, vol. 165(P1), pages 381-390.
    6. Glock, Christoph H., 2009. "A comment: "Integrated single vendor-single buyer model with stochastic demand and variable lead time"," International Journal of Production Economics, Elsevier, vol. 122(2), pages 790-792, December.
    7. Sarkar, Biswajit & Guchhait, Rekha & Sarkar, Mitali & Cárdenas-Barrón, Leopoldo Eduardo, 2019. "How does an industry manage the optimum cash flow within a smart production system with the carbon footprint and carbon emission under logistics framework?," International Journal of Production Economics, Elsevier, vol. 213(C), pages 243-257.
    8. Rasti-Barzoki, Morteza & Moon, Ilkyeong, 2020. "A game theoretic approach for car pricing and its energy efficiency level versus governmental sustainability goals by considering rebound effect: A case study of South Korea," Applied Energy, Elsevier, vol. 271(C).
    9. Ata Allah Taleizadeh & Bita Hazarkhani & Ilkyeong Moon, 2020. "Joint pricing and inventory decisions with carbon emission considerations, partial backordering and planned discounts," Annals of Operations Research, Springer, vol. 290(1), pages 95-113, July.
    10. Moon, Ilkyeong & Xu, Jie & Feng, Xuehao & Ruan, Xiao, 2020. "Cooperative sales promotion with a point-sharing policy: Advantages and limitations," Omega, Elsevier, vol. 94(C).
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    Cited by:

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    2. Behnamfar, Reza & Sajadi, Seyed Mojtaba & Tootoonchy, Mahshid, 2022. "Developing environmental hedging point policy with variable demand: A machine learning approach," International Journal of Production Economics, Elsevier, vol. 254(C).
    3. Yue, Xianghua & Peng, Michael Yao-Ping & Anser, Muhammad Khalid & Nassani, Abdelmohsen A. & Haffar, Mohamed & Zaman, Khalid, 2022. "The role of carbon taxes, clean fuels, and renewable energy in promoting sustainable development: How green is nuclear energy?," Renewable Energy, Elsevier, vol. 193(C), pages 167-178.

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