How carbon market impacts emission reduction in thermal power: From the perspective of carbon price

被引：0
|
作者：
Fang D. [1 ,2 ]
Xie Q. [1 ]
机构：
[1] School of Economics and Management, Wuhan University, Wuhan
[2] Research Center for Complexity Science and Management, Wuhan University, Wuhan
来源：
Xitong Gongcheng Lilun yu Shijian/System Engineering Theory and Practice | 2024年 / 44卷 / 03期
基金：
中国国家自然科学基金;
关键词：
carbon emission reduction; carbon market; carbon price; electricity market; thermal power industry;
D O I：
10.12011/SETP2023-0688
中图分类号：
学科分类号：
摘要：
The carbon market is an important policy tool for the thermal power industry to achieve carbon emission reduction targets. It is an urgent issue to explore whether carbon market can affect carbon emission reduction in thermal power industry. This study constructs a Stackelberg game model for power generation enterprises to participate the trading in the electricity and carbon markets. And it reveals the theoretical mechanism of the “inverted U” effect of carbon price on carbon emission reduction in thermal power industry. Based on this, considering the effect of carbon price, this study employs differences-in-differences to test the carbon reduction effect of carbon market on thermal power industry by using inter-provincial panel data from 2005–2019. The results show that the carbon market promotes carbon emission reduction in the thermal power industry, but its impact has a lag effect. Moreover, it is robust to the “inverted U” type relationship between carbon price and carbon emission reduction in thermal power industry. This study can offer empirical support for carbon price driving carbon emission reduction in the thermal power industry and provide an important reference for the improvement of the carbon market institutional system. © 2024 Systems Engineering Society of China. All rights reserved.
引用
收藏
页码：1003 / 1017
页数：14
相关论文
共 50 条
  • [31] Chen Z, Zhang X, Chen F., Do carbon emission trading schemes stimulate green innovation in enterprises? Evidence from China, Technological Forecasting and Social Change, 168, (2021)
  • [32] Liu J Y, Zhang Y J., Has carbon emissions trading system promoted non-fossil energy development in China?, Applied Energy, 302, (2021)
  • [33] Peng H, Qi S, Cui J., The environmental and economic effects of the carbon emissions trading scheme in China: The role of alternative allowance allocation[J], Sustainable Production and Consumption, 28, pp. 105-115, (2021)
  • [34] Chappin E J L, Dijkema G P J., On the impact of CO2 emission-trading on power generation emissions[J], Technological Forecasting and Social Change, 76, 3, pp. 358-370, (2009)
  • [35] Wang H, Yu X., Carbon dioxide emission typology and policy implications: Evidence from machine learning, China Economic Review, 78, (2023)
  • [36] Seifert J, Uhrig-Homburg M, Wagner M., Dynamic behavior of CO2 spot prices[J], Journal of Environmental Economics and Management, 56, 2, pp. 180-194, (2008)
  • [37] Han M, Ding L, Zhao X, Et al., Forecasting carbon prices in the Shenzhen market, China: The role of mixed-frequency factors[J], Energy, 171, pp. 69-76, (2019)
  • [38] Liu X, Jin Z., An analysis of the interactions between electricity, fossil fuel and carbon market prices in Guangdong, China[J], Energy for Sustainable Development, 55, pp. 82-94, (2020)
  • [39] Wang N., Carbon price prediction in China based on dynamic multivariate network[J], Statistical Research, 40, 1, pp. 49-61, (2023)
  • [40] Fabra N, Reguant M., Pass-through of emissions costs in electricity markets[J], American Economic Review, 104, 9, pp. 2872-2899, (2014)
12345