Market‐clearing framework of a resilient microgrid with renewable energy considering emission reduction targets

Abstract

Abstract With the gradual attention of global climate change, a series of carbon emission plans have been formally implemented in the field of energy. There is a consistent relationship between the carbon market and the electricity market in promoting clean energy development and improving carbon dioxide emission reduction targets. The market design of a low‐carbon power system should be considered as a whole to promote the coordinated development of carbon and power markets. Taking an industrial park in China as the research object, an internal market trading model of an industrial park considering carbon dioxide emission reduction targets is proposed. The proposed trading mechanism considers both carbon dioxide emission reduction targets and social welfare maximization. The proposed market trading model connects day‐ahead and intraday electricity markets, which deal with uncertainty about renewable energy sources.

Keywords

• carbon
• hybrid renewable energy systems
• power markets
• renewable energy sources