Original scientific paper
https://doi.org/10.13044/j.sdewes.d7.0282
Carbon Price Evaluation in Power Systems for Flaring Mitigation
Javier Tovar-Facio
; Chemical Engineering Department, Michoacan University of Saint Nicholas of Hidalgo, Ave. Francisco J. Múgica S/N, Ciudad Universitaria, Morelia, Mich. 58030, México
Luis F. Fuentes-Cortés
; Department of Chemical Engineering, National Institute of Technology of Mexico – Technological Institute of Celaya, Celaya, Guanajuato, 38010, México
José M. Ponce-Ortega
; Chemical Engineering Department, Michoacan University of Saint Nicholas of Hidalgo, Ave. Francisco J. Múgica S/N, Ciudad Universitaria, Morelia, Mich. 58030, México
Abstract
This work aims to study the effect of greenhouse gases monetization to promote the reduction of flare gas. We propose to design a cogeneration system that uses natural gas as main fuel and flare gas as complementary fuel. A multi-objective nonlinear programming model is presented to determine the optimal design variables of the cogeneration system. This model maximizes the profit and minimizes the carbon dioxide equivalent simultaneously. The key factor to minimize carbon dioxide emissions is the replacement of natural gas with flare gas. Three different cases, which consider different methods to sponsor flare gas, are compared. The first case seeks to maximize the profit with trading carbon emissions. The second case also looks for maximizing the profit,
however, carbon dioxide emissions are penalized by carbon taxes. In the third case, a multi-objective optimization approach based on a compromise solution that balances conflicting priorities on multiple objectives is presented. Results show that these two policy schemes work with some limitations to decrease carbon dioxide emissions. On the
other hand, when the approach based on a compromise solution is used, the results show, at the same time, environmental and economic benefits.
Keywords
Flare gas; Carbon tax; Trading carbon emissions; Multi-objective optimization.
Hrčak ID:
224128
URI
Publication date:
31.12.2019.
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