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Multi-Flexibility Resources Planning for Power System Considering Carbon Trading

Author

Listed:
  • Juan Liu

    (Center of Power Grid Planning and Constructing, Yunnan Power Grid Ltd., Kunming 650011, China)

  • Minwei Liu

    (Center of Power Grid Planning and Constructing, Yunnan Power Grid Ltd., Kunming 650011, China)

  • Zhimin Wang

    (Center of Power Grid Planning and Constructing, Yunnan Power Grid Ltd., Kunming 650011, China)

  • Junwen Yang

    (Center of Power Grid Planning and Constructing, Yunnan Power Grid Ltd., Kunming 650011, China)

  • Suhua Lou

    (State Key Laboratory of Advanced Electromagnetic Engineering and Technology, School of Electrical and Electronic Engineering, Huazhong University of Science and Technology, Wuhan 430074, China)

Abstract

Clean and low-carbon energy represented by wind power and photovoltaic power will develop rapidly and will form a new power system with a high proportion of renewable energy. In the context of a low-carbon economy, how to make reasonable planning for power system flexibility resources is crucial for the development of new power systems. In this paper, we establish a multi-flexibility resource planning model for a power system based on a low carbon economy by considering the planning of multi-flexibility resources of “source–load–storage”. First, a ladder-type carbon trading cost accounting model is proposed, and a set of power system flexibility evaluation indexes are proposed. Then, with the objective of minimizing the sum of low carbon operation cost, investment cost, and operation cost of the system, the planning model of multi-flexibility resources is established by considering constraints such as system power balance constraint, investment constraint, and wind power consumption constraint. Finally, the model proposed in this paper is validated by the IEEE-RTS96 system; the results show that: (1) collaborative planning of source–load–storage multi-flexible resources can obtain the best overall system economics, although the investment cost increases by USD 12.6M, the total system cost is reduced by 11.22% due to the reduction in coal generation consumption cost, carbon trading cost, and wind curtailment penalty cost; (2) as the penetration of wind power grows, the demand for energy storage in the power system is gradually increasing; when the installed capacity of wind power grew from 800 MW to 1600 MW, the demand for new thermal power decreased by 53.5% and the demand for new energy storage increased by 200%; (3) the total cost of the planning model considering ladder-type carbon trading decreases by 1.35% compared to the model without carbon trading, and increases by 2.5% compared to the model considering traditional carbon trading, but its carbon emissions decrease by 5.5%.

Suggested Citation

  • Juan Liu & Minwei Liu & Zhimin Wang & Junwen Yang & Suhua Lou, 2022. "Multi-Flexibility Resources Planning for Power System Considering Carbon Trading," Sustainability, MDPI, vol. 14(20), pages 1-18, October.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:20:p:13296-:d:943810
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    References listed on IDEAS

    as
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    6. Heggarty, Thomas & Bourmaud, Jean-Yves & Girard, Robin & Kariniotakis, Georges, 2019. "Multi-temporal assessment of power system flexibility requirement," Applied Energy, Elsevier, vol. 238(C), pages 1327-1336.
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