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dc.contributor.authorZhang, S.
dc.contributor.authorWang, X.
dc.contributor.authorWang, Song
dc.date.accessioned2018-12-13T09:09:17Z
dc.date.available2018-12-13T09:09:17Z
dc.date.created2018-12-12T02:46:42Z
dc.date.issued2018
dc.identifier.citationZhang, S. and Wang, X. and Wang, S. 2018. Modeling and computation of energy efficiency management with emission permits trading. Journal of Industrial and management optimization. 14 (4): pp. 1349-1365.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/71225
dc.identifier.doi10.3934/jimo.2018010
dc.description.abstract

© 2018 American Institute of Mathematical Sciences. In this paper, we present an optimal feedback control model to deal with the problem of energy efficiency management. Especially, an emission permits trading scheme is considered in our model, in which the decision maker can trade the emission permits exibly. We make use of the optimal control theory to derive a Hamilton-Jacobi-Bellman (HJB) equation satisfied by the value function, and then propose an upwind finite difference method to solve it. The stability of this method is demonstrated and the accuracy, as well as the usefulness, is shown by the numerical examples. The optimal management strategies, which maximize the discounted stream of the net revenue, together with the value functions, are obtained. The effects of the emission permits price and other parameters in the established model on the results have been also examined. We find that the in uences of emission permits price on net revenue for the economic agents with different initial quotas are quite different. All the results demonstrate that the emission permits trading scheme plays an important role in the energy efficiency management.

dc.publisherAmerican Institute of Mathematical Sciences
dc.titleModeling and computation of energy efficiency management with emission permits trading
dc.typeJournal Article
dcterms.source.volume14
dcterms.source.number4
dcterms.source.startPage1349
dcterms.source.endPage1365
dcterms.source.issn1547-5816
dcterms.source.titleJournal of Industrial and management optimization
curtin.departmentSchool of Electrical Engineering, Computing and Mathematical Science (EECMS)
curtin.accessStatusFulltext not available


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