Towards Carbon-Free Electricity: A Flow-Based Framework for Power Grid Carbon Accounting and Decarbonization (2308.03268v2)

Abstract: This paper introduces a comprehensive framework aimed at advancing research and policy development in the realm of decarbonization within electric power systems. The framework focuses on three key aspects: carbon accounting, carbon-aware decision-making, and carbon-electricity market design. It addresses existing problems, methods, and proposes solutions. In contrast to traditional pool-based emissions models, our framework proposes a novel flow-based emissions model. This model incorporates the underlying physical power grid and power flows, allowing for accurate carbon accounting at both temporal and spatial scales. This, in turn, facilitates informed decision-making to achieve grid decarbonization goals. The framework is built on a flow-based accounting methodology and utilizes the carbon-aware optimal power flow (C-OPF) technique as a theoretical foundation for decarbonization decision-making. Additionally, the paper explores the potential design of carbon-electricity markets and pricing mechanisms to incentivize decentralized decarbonization actions. The critical issues of data availability, infrastructure development, and considerations of fairness and equity are also discussed. This paper seeks to advance scholarly understanding and foster progress toward achieving sustainable and carbon-free electric power systems.