气候变化领域集成服务门户(CCPortal): How do carbon cap-and-trade mechanisms and renewable portfolio standards affect renewable energy investment?

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DOI	10.1016/j.enpol.2022.112938
	How do carbon cap-and-trade mechanisms and renewable portfolio standards affect renewable energy investment?
	Yan Y.; Sun M.; Guo Z.
发表日期	2022
ISSN	0301-4215
卷号	165
英文摘要	In order to promote the low-carbon transformation, Chinese government plans to implement two policies in the power industry: carbon cap-and-trade mechanisms and renewable portfolio standards. However, whether their synergy can drive the development of Chinese renewable energy industry has become a key issue. Based on China's renewable energy industry, this paper established an optimization model with the objective function for maximizing electricity company profits. The study further employed scenario analysis to design four policy scenarios: no-policy scenario, carbon cap-and-trade mechanisms scenario, renewable portfolio standards scenario and mixed scenario. The mentioned scenarios were used to explore the impact of various policy situations on electricity companies’ investment decisions, total carbon emissions, consumer surplus and social welfare when renewable energy, new conventional energy and conventional energy are available in the market. The research findings obtained thus showed that in terms of renewable energy promotion, mixed scenario is the best. Our results also showed that at the initial stage of China's low-carbon transformation, the social welfare level under mixed scenario is the highest. The outlined findings provide some policy suggestions for promoting the rapid development of renewable energy and accelerating the low-carbon transformation with high quality. © 2022 Elsevier Ltd
英文关键词	Carbon cap-and-trade mechanisms; Carbon emissions; Energy investment level; Renewable portfolio standards; Social welfare level
语种	英语
scopus关键词	Electric power generation; Investments; Power markets; Cap and trade; Carbon cap-and-trade mechanism; Carbon emissions; Energy investment level; Energy investments; Low carbon transformations; Renewable portfolio standard; Social welfare; Social welfare level; Trade mechanism; Carbon; alternative energy; carbon emission; emissions trading; energy policy; environmental economics; investment; optimization; China
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/256212
作者单位	Center for Energy Development and Environmental Protection, Jiangsu University, Jiangsu, Zhenjiang, 212013, China
推荐引用方式 GB/T 7714	Yan Y.,Sun M.,Guo Z.. How do carbon cap-and-trade mechanisms and renewable portfolio standards affect renewable energy investment?[J],2022,165.
APA	Yan Y.,Sun M.,&Guo Z..(2022).How do carbon cap-and-trade mechanisms and renewable portfolio standards affect renewable energy investment?.Energy Policy,165.
MLA	Yan Y.,et al."How do carbon cap-and-trade mechanisms and renewable portfolio standards affect renewable energy investment?".Energy Policy 165(2022).