Abstract
This study presents a production decision model that minimizes costs in an industrial production plant for carbon and electricity consumption under a joint carbon-electricity trading system. The motivation is to offer users a way to reduce their production costs within this integrated carbon and electricity trading framework. The model utilizes a cap-and-trade scheme for carbon trading and takes into account hourly electricity prices, carbon credit prices, electricity consumption required for production, and carbon emissions during production. Using the Mixed Integer Programming method, the optimization model effectively minimizes costs, leading to significant savings.
Keywords
Electricity
Production (economics)
Minification
Consumption (sociology)
Emissions trading
Carbon price
Environmental economics
Carbon fibers
Integer programming
Computer science
Greenhouse gas
Natural resource economics
Microeconomics
Economics
Engineering
Subject Areas
Smart Grid Energy Management
·Electrical and Electronic Engineering ·Physical Sciences
Electric Vehicles and Infrastructure
·Electrical and Electronic Engineering ·Physical Sciences
Transportation and Mobility Innovations
·Automotive Engineering ·Physical Sciences
Citations by Year
2024: 1
2025: 1
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