A Novel Inexact Two-Stage Stochastic Robust-Compensation Model for Electric Supply Environmental Management Under Uncertainty

Abstract

In this study, a novel inexact two-stage stochastic robust-compensation programming (ITSP-RC) model is developed for CO2 emission reduction management under uncertainties. This model is attempted to integrate ITSP and stochastic RC programming into a general framework and apply the ITSP-RC for power management and CO2 emission reduction management, such that the developed model can tackle uncertainties described in terms of interval values and probability distributions over a two-stage context. Moreover, it can reflect dynamic and randomness of the energy systems during the planning horizon. The developed method has been applied to a case to solve CO2 emission management problem in electric supply environmental management. A number of scenarios corresponding to different adoption rate levels of carbon capture, utilization, and storage technology are examined. With the RC programming, regional energy systems would have a stable financial budget. The result suggests that the methodology is applicable for reflecting complexities of large-scale energy management systems and addressing CO2 emissions reduction issue with the planning period.