Towards Carbon-Free Electricity: A Comprehensive Flow-Based Framework for Power Grid Carbon Accounting and Decarbonization

This paper presents a comprehensive framework for advancing research and policy development related to decarbonization in electric power systems. It encompasses three pivotal subjects, including carbon accounting, carbon-aware decision-making, and carbon-electricity market design. For each of these subjects, this paper outlines the key problems, existing methods, and potential solutions. Distinguished from existing pool-based emissions models, this framework introduces a novel flow-based emissions model that incorporates the underlying physical power grid and power flows. It thus enables precise carbon accounting at both temporal and spatial scales, facilitating informed decision-making towards achieving the ultimate objective of grid decarbonization. Specifically, this framework presents a flow-based accounting methodology, introduces the carbon-aware optimal power flow (C-OPF) technique as the theoretical foundation for decarbonization decision-making, and explores the potential design of carbon-electricity markets and carbon pricing mechanisms to incentivize decentralized decarbonization actions. Additionally, this paper provides in-depth discussions of the critical issues that arise within these subjects, such as data availability, infrastructure development, fairness and equity, and more.