Abstract
Renewable energy sources and carbon dioxide reduction technologies play a crucial role in mitigating emissions and promoting cleaner energy. However, the challenges posed by the intermittent nature of renewable generation, energy-intensive nature of carbon dioxide reduction technologies, and their high costs threaten the energy security. This project aims to develop an energy planning model to facilitate the development of clean and sustainable energy strategies. A case study focusing on residential energy system is presented, where the model proposes an optimal configuration, which is later assessed for its energy mix and potential impacts from decarbonisation efforts. In the absence of emissions reduction targets, the optimal system yields an emissions factor of 0.10 kgCO2/kWh and an electricity cost of 1.70 cent/kWh. However, when the emissions reduction levels are mandated for decarbonisation, the optimal system shifts towards cleaner energy sources and, with stricter emissions targets, adopt carbon dioxide removal technologies. Under 25 % and 50 % emissions reduction scenarios, the emissions factor decreases to 0.08 kgCO2/kWh and 0.05 kgCO2/kWh respectively, whereas the cost of electricity climbs from 1.79 cent/kWh to 1.88 cent/kWh.
