Jae-Kun Lyu, Wook-Won Kim, Yong-Tae Yoon, and Jong-Keun Park
Carbon emission reduction, carbon tax, emission trading, dynamic environmental economic dispatch, particle swarm optimization
Nowadays, the environmental issues that arise due to the operation of fossil-fueled electrical generators have become a matter of grave concern in the power systems field. This paper presents the mathematical formulation and implementation of Dynamic Environmental/Economic Dispatch (DEED) in the deregulated power markets under different carbon emission reduction policies; carbon tax, cap-and-trade system. Particle Swarm Optimization (PSO) has been adopted to investigate the economic impact of both carbon tax rate and carbon allowance on power dispatch problem. The results from an illustrative case study based on the modified IEEE 30-bus system are analyzed.
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