In this paper, we present a budget-constrained emission reduction approach to solve the power dispatch problem that significantly reduces the emissions with minimal impact on the cost of power generation. We validate this approach by solving the dynamic direct current optimal power flow (DCOPF) problem across several standard IEEE bus system configurations of different complexities. We observe that for a small budget increase of 5%, a minimum of 18.5% and a maximum of 42.6% reduction in emissions is achievable across all IEEE bus systems studied. Further analysis showed that the most cost-effective percentage emission reduction lies in the range of ~16-33X of the corresponding percentage cost increase. Additionally, we also assess the impact of increased penetration of renewable energy (RE) resources on the emission reduction potential vis-a-vis the cost increase. Our results indicate that significant emission reduction remains feasible with minimal cost increase, even in the presence of RE resources.
Enhanced Budget-Constrained Emission Reduction in Power Dispatch
2024-07-31
491457 byte
Conference paper
Electronic Resource
English
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