Storage Control for Carbon Emission Reduction: Opportunities and Challenges

Abstract

Storage is vital to power systems as it provides the urgently needed flexibility to the system. Meanwhile, it can contribute more than flexibility. In this paper, we study the possibility of utilizing storage system for carbon emission reduction. The opportunity arises due to the pending implementation of carbon tax throughout the world. Without the right incentive, most system operators have to dispatch the generators according to the merit order of the fuel costs, without any control for carbon emissions. However, we submit that storage may provide necessary flexibility in carbon emission reduction even without carbon tax. We identify the non-convex structure to conduct storage control for this task and propose an easy to implement dynamic programming algorithm to investigate the value of storage in carbon emission reduction.