Smart energy consumption with hybrid storage systems in energy hub considering economic and environmental multi-objective optimization

The energy scheduling practices aimed at achieving both economic and social sustainability goals pose a significant challenge for countries worldwide. These challenges arise from the need to balance the dual objectives of improving energy efficiency while ensuring economic viability, all while fostering community welfare. As societies increasingly shift towards sustainable energy solutions, the complex task of aligning these diverse objectives requires not only innovative strategies but also strong collaboration among a wide range of stakeholders, including government agencies, private sector entities, and community organizations. The interplay between these various aspects greatly influences policy formulation, strategic planning processes, and also affects the technological advancements and investment decisions essential for attaining sustainable, performance-driven results. This paper provides a comprehensive analysis of energy management within the framework of the smart energy hub system (SEHS), which features the integration of multi-carrier energy systems and hybrid thermal and electrical energy storage systems specifically designed for day-ahead operations. A key element of this framework is the incorporation of demand response-based energy pricing for both electrical and thermal needs, as it is tailored to accurately represent the actual demand performance of smart consumers, thus encouraging more efficient energy consumption. Energy management is conceptualized within this framework as an economic and environmental multi-objective function that aims to minimize both operational costs and emissions, thereby addressing the pressing need for sustainable energy practices. The proposed framework undergoes a evaluation through a rigorous comparative numerical analysis, which underscores its effectiveness when compared to an alternative scheduling strategy. Notably, with smart consumer participation in the demand response-based energy pricing model, significant reductions in emissions costs and operational costs are achieved, with reductions quantified at 18.58% and 26.25%, respectively.