This paper develops a power system dispatching model that integrates thermal power, wind power, photovoltaic (PV) generation, and energy storage systems (ESS). The model uses Monte Carlo simulations to analyze the impact of renewable energy and ESS capacities on electricity costs, carbon emissions, power fluctuations, and renewable energy utilization. The study optimizes the system configuration using the NSGA-II algorithm and provides valuable insights for decarbonizing power systems while ensuring energy equity.

The BRICS nations have committed to reach carbon neutrality: Brazil and South Africa by 2050, China and Russia by 2060, and India by 2070. A joint study by researchers from Tsinghua and Shanghai Jiaotong universities shows that achieving such targets necessitates a significant increase in electrification and non-fossil fuel use, with 65% to 82% of energy to be supplied from renewables and 55% to 80% in form of electricity. Besides, carbon capture and removal technologies will play an important role, which are expected to contribute 27% to 64% of emission reductions after 2030 across BRICS. The mitigation costs vary by country, ranging from 250 to 390 USD per ton of CO₂ by the carbon neutrality year. Annual investments in the energy sector are projected to be equivalent to 0.8%–3.5% of GDP.