Volume 62

Energy–Carbon–Value Coordinated Optimization and Low-Carbon Operation in Industrial Parks via Green Electricity–Carbon Market Integration Zhu Binbin, Ju Jiehu, Xia Shichao, Wang Jialing, Wang Qinglei, Shen Ying, Jiang Shanshan, Xie Shan, Zhao Yingru

Abstract

Addressing the low-carbon transformation of industrial park energy systems and the integration with carbon markets, this study develops an integrated optimization framework encompassing energy equipment configuration, risk-aware decision-making, and green certificate (TGC)-carbon trading. First, a mixed-integer linear programming model incorporating photovoltaics, energy storage, and other energy equipments is formulated. Price and load uncertainties are embedded through Conditional Value-at-Risk (CVaR) constraints, and the ε-constraint method is applied to derive the Pareto frontier across three objectives: economic cost, carbon emissions, and operational risk. The optimal solution along the Pareto frontier is subsequently selected using a fuzzy membership function. Second, three TGC-carbon conversion mechanismsare designed, and a joint trading model for park enterprises is established. A diminishing marginal substitution effect, modeled via an exponential decay factor, captures the declining efficiency of TGC offsets with increasing scale. Results demonstrate that the framework enables coordinated multi-enterprise energy and carbon decisions, enhances renewable energy utilization, and significantly reduces compliance pressure under carbon balance. By leveraging TGC conversion and internal trading, the compliance cost of deficit enterprises decreases by 39.53% compared to scenarios without trading, while surplus enterprises achieve higher revenue.

Keywords Energy-Carbon-Value Coordination, Green Certificate-Carbon Integrated Trading, Conditional Value-at-Risk (CVaR), Energy Conservation and Emission Reduction