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Introducing carbon trading is an essential way to decarbonize the power system. Many existing studies mainly consider source-side unilateral carbon trading (UCT). However, there are still rare studies considering source-load bilateral carbon trading (BCT). The effect of source-load BCT on system-wide carbon mitigation is worth studying. To fill this research gap, a hierarchical low-carbon economic-dispatch model with source-load BCT based on the Aumann–Shapley method was proposed. In the first layer, economic-dispatch was conducted to minimize the power-generation costs and source-side carbon-trading costs. Then, based on the carbon-emission flow (CEF) theory, the actual load carbon emissions can be obtained and passed to the second layer. At the second layer, the demand-response optimization was performed to minimize the load-side carbon-trading costs. Finally, the proposed model was tested on the modified New England 39-bus and IEEE 118-bus systems using the MATLAB/YALMIP platform with the Gurobi solver. The results indicate that the proposed model can effectively facilitate peak-load shifting, wind-power consumption, and carbon mitigation. Furthermore, compared with the models only considering source-side or load-side UCT, the proposed source-load BCT model has obvious advantages in carbon mitigation. [ABSTRACT FROM AUTHOR]

The development of emerging technologies has enhanced the demand response (DR) capability of conventional loads. To study the effect of DR on the reduction in carbon emissions in an integrated energy system (IES), a two-stage low-carbon economic dispatch model based on the carbon emission flow (CEF) theory was proposed in this study. In the first stage, the energy supply cost was taken as the objective function for economic dispatch, and the actual carbon emissions of each energy hub (EH) were calculated based on the CEF theory. In the second stage, a low-carbon DR optimization was performed with the objective function of the load-side carbon trading cost. Then, based on the modified IEEE 39-bus power system/Belgian 20-node natural gas system, MATLAB/Gurobi was used for the simulation analysis in three scenarios. The results showed that the proposed model could effectively promote the system to reduce the load peak-to-valley difference, enhance the ability to consume wind power, and reduce the carbon emissions and carbon trading cost. Furthermore, as the wind power penetration rate increased from 20% to 80%, the carbon reduction effect basically remained stable. Therefore, with the growth of renewable energy, the proposed model can still effectively reduce carbon emissions. [ABSTRACT FROM AUTHOR]