Optimal power generation mix towards an emission target

This paper presents a new emission constrained power generation expansion model to investigate what kind of generation mix is necessary and economical in order to meet a specific emission target. The proposed model can help governments make decisions for generation expansion to meet their emission reduction targets by employing a cost efficient planning methodology. Renewable source generation is considered in this research. The year-round generation and emission cost is evaluated by a dynamic programming based unit commitment. A case study on an IEEE 30 bus system is provided to verify the effectiveness of this model, showing how the new scheme can help the generation system move towards a low carbon electricity supply future. Optimized generation mix results are provided to investigate the generation cost (including investment) varies with different emission prices.