Advanced modeling of PtG technology linked with conventional power station for CO2 recycling: A risk-adjusting techno-economic assessment

Abstract

In recent years, there has been a notable surge in focus on the mitigation of carbon emissions, mostly motivated by the urgent concern about global warming and its adverse impacts on the Earth's climate. Power-to-gas (PtG) systems have emerged as a promising technological solution in the pursuit of mitigating carbon emissions. This paper presents a mathematical modeling framework that aims to accurately represent the power-to-gas system integrated with wind power plants while taking into account the technological constraints of the system in practical scenarios. To analyze the proposed system under the stresses, worst situations caused by existing uncertain parameters, especially wind power, is modeled using a risk modeling technique called downside risk constraints (DRC). The DRC endeavors to mitigate the likelihood of situations resulting in significant stresses by incorporating an expected downside risk into the proposed framework. This paper will provide a number of conservative tactics to be employed in the decision-making process under the realizations of uncertainties. These tactics, including strategic operational control strategies, provide a structured approach for decision-making under uncertain conditions. By incorporating downside risk constraints, the framework enables conservative decision-making that prioritizes mitigating potential losses and minimizing the operational risk within scheduling horizon of proposed PtG facility. The findings demonstrate that the implementation of PtG technology has the potential to yield a substantial reduction in external energy consumption, namely by 39.1 %. Additionally, it has been seen that PtG may effectively mitigate carbon emissions, resulting in a decrease of 38.9 %. The utilization of PtG technology and gas storage will result in a substantial reduction in wind curtailment, ultimately leading to a near elimination of curtailment. Further study is conducted on the model in order to explore the benefits of carbon and methane storage, as supported by the results obtained.