This version adds carbon trading into previously published DECO2. Direct optimisation model involves incorporating various types of emissions and prices related to carbon trading as variables, leading to the creation of an MINLP formulation. Greater decarbonisation is achieved as compared to that from initial DECO2 version. Indirect optimization model takes emission rights prices as parameters, leading to less non-linearity when compared to direct optimization model.
DECO2-2023v has recently been published in SPC journal. https://www.sciencedirect.com/science/article/pii/S2352550923001781