Multi-Objective Optimization for Economic and Environmental Dispatch in DC Networks: A Convex Reformulation via a Conic Approximation

This paper addresses the economic–environmental dispatch (EED) problem in DC power grids integrating thermoelectric and photovoltaic generation. A multi-objective optimization model is developed to minimize both fuel costs and CO2 emissions while considering power balance, voltage constraints, generation limits, and thermal line capacities. To overcome the non-convexity introduced by quadratic voltage products in the power flow equations, a convex reformulation is proposed using second-order cone programming (SOCP) with auxiliary variables. This reformulation ensures global optimality and enhances computational efficiency. Two test systems are used for validation: a 6-node DC grid and an 11-node grid incorporating hourly photovoltaic generation. Comparative analyses show that the convex model achieves objective values with errors below 0.01% compared to the original non-convex formulation. For the 11-node system, the integration of photovoltaic generation led to a 24.34% reduction in operating costs (from USD 10.45 million to USD 7.91 million) and a 27.27% decrease in CO2 emissions (from 9.14 million kg to 6.64 million kg) over a 24 h period. These results confirm the effectiveness of the proposed SOCP-based methodology and demonstrate the environmental and economic benefits of renewable integration in DC networks.