Simulation Study on Multi-Objective Optimal Operation of Low-Carbon Power Systems

This article proposes a concise multi-objective optimal operation model for the low-carbon power system. The work aims to reduce the comprehensive cost of generating power considering both operation cost and carbon emission cost. A modified IEEE30 bus system is set up with a wind turbine and a solar PV farm to facilitate the 96-point simulation over 24 hours. Simulations run with dynamically changing power of the wind turbine, the PV farm and loads, thus, the experimental environment can simulate a practical power system in the real world as much as possible. Results show that the lowest total comprehensive cost of the system over the 24 hours can be achieved under the simulation scenario which sets the multiple optimization objectives considering both operation cost and carbon emission cost. While reducing carbon emissions attracts increasing attention nowadays, the methodology presented in this paper provides a practically applicable model to manage a low-carbon power system to operate at its lowest cost.