Exploring the carbon-green certificate market conversion path: Application validation in a solar-biomass-driven integrated energy system

Abstract

Carbon-green certificate markets advance emission reduction goals, drive energy transitions, and enhance resource allocation efficiency. Despite extensive studies on integrated energy systems (IES) participation in multi-markets, research on the distinctions and interrelations of IES participation in different markets remains relatively scarce. Consequently, a solar-biomass-driven IES is created to explore the conversion path for biomass power generation to participate in the carbon-green certificate market. The proposed system combines renewable energy generation devices with gas-fired units, enabling it to participate in the carbon-green certificate market. Then, a novel criterion is proposed for biogas-driven gas-fired power generation units to participate in the carbon-green certificate market. Subsequently, this study employs pre-combustion carbon capture technologies to enable the IES to comply with the criterion of the proposed conversion path. Finally, considering the economic and environmental implications of the carbon-green certificate market, a multi-objective optimization model incorporating a ladder-negative carbon price is developed to investigate the Pareto frontier of different objectives. Compared to the reference case of biomass power generation participating in the green certificate market, the proposed market conversion method expands the Pareto frontier of IES. The carbon emission boundary extends to (−10.80 %, 122.86 %), while the cost boundary ranges (−10.32 %, −7.67 %). With the introduction of the ladder-negative carbon price, the carbon emission boundary is adjusted to (−12.63 %, 80.37 %), and the cost boundary improves to (−11.31 %, −7.05 %), demonstrating a further optimization of the Pareto frontier.