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The development of renewable energy is the key to tackling climate changes and ensuring energy security. Meanwhile, the process is usually associated with a huge investment and financing gap, especially for transitional countries like China. Hence, developing and innovating the traditional financial system is urgent. However, existing studies have mainly focused on traditional financial perspectives, and few papers have critically examined how digital financial inclusion affects the growth of renewable energy industries. To this end, using Chinese provincial data from 2011 to 2020 and applying Feasible Generalized Least Squares (FGLS) method, this study explores the effect of financial inclusion on renewable energy and its underlying mechanisms from the production and consumption perspectives. It is found that the impact of financial inclusion on the production side of the renewable energy industry is significantly better than on the consumption side, and there is heterogeneity effect in different energy resource varieties, different regional locations, and different financial regulation intensities. The financial inclusion on renewable energy has a significant pulling effect in photovoltaic and wind provinces, but not in large hydropower provinces. Then, its driving effect is particularly pronounced in the northern region. Nonetheless, it is not significant for renewable energy consumption in the southern region. Besides, this positive effect cannot be achieved without stronger financial regulation. The mechanism of action assessment finds that optimizes the consumption pattern, increase the competition of commercial banks, and improve technological innovation all contribute to the positive effect whereas, FDI shows the negative effect. This study provides new evidence on China's achievement of the energy transition, suggesting the need to further improve incentives for FDI firms and to strengthen consumption-side guidance. [ABSTRACT FROM AUTHOR]

As the world's largest developing country, China has set the target of "reaching carbon peak by 2030 and carbon neutrality by 2060". China's power sector faces many challenges in reducing carbon emissions. This article forecasts electricity consumption from 2021 to 2060 by selecting five influential elements on power demand. Furthermore, the system dynamics model simulates the carbon emission system on the supply and demand side of the power industry. This paper innovatively incorporates the technology factor of carbon capture, utilization, and storage (CCUS) into the supply-side model. In this study, the process of carbon neutrality is separated into three stages, including carbon peak stage (2020–2030), deep low-carbon stage (2030–2050) and zero-carbon stage (2050–2060). The factors of energy storage technology and CCUS technology make significant contributions in the latter two stages. Based on the different development levels of the variables, three scenarios are set as business-as-usual scenario (BAU), low carbon scenario(LC) and ultra-low carbon scenario (ULC). Then scenario analysis is employed to simulate the carbon emission in the future. The scheme under the ULC scenario is the optimal solution to achieve carbon neutrality. Improving flexible transition of thermal power units and promoting the growth of renewable energy are China's primary strategies of achieving carbon peak and carbon neutrality. • System dynamics model is applied to simulate scenarios on carbon emission. • The carbon emission models of the power supply and demand sides are constructed. • Three scenarios for achieving the dual-carbon target are proposed. • The electric energy substitution and CCUS are investigated in the model. [ABSTRACT FROM AUTHOR]

As the world's largest developing country, China has set the target of "reaching carbon peak by 2030 and carbon neutrality by 2060". China's power sector faces many challenges in reducing carbon emissions. This article forecasts electricity consumption from 2021 to 2060 by selecting five influential elements on power demand. Furthermore, the system dynamics model simulates the carbon emission system on the supply and demand side of the power industry. This paper innovatively incorporates the technology factor of carbon capture, utilization, and storage (CCUS) into the supply-side model. In this study, the process of carbon neutrality is separated into three stages, including carbon peak stage (2020–2030), deep low-carbon stage (2030–2050) and zero-carbon stage (2050–2060). The factors of energy storage technology and CCUS technology make significant contributions in the latter two stages. Based on the different development levels of the variables, three scenarios are set as business-as-usual scenario (BAU), low carbon scenario(LC) and ultra-low carbon scenario (ULC). Then scenario analysis is employed to simulate the carbon emission in the future. The scheme under the ULC scenario is the optimal solution to achieve carbon neutrality. Improving flexible transition of thermal power units and promoting the growth of renewable energy are China's primary strategies of achieving carbon peak and carbon neutrality. • System dynamics model is applied to simulate scenarios on carbon emission. • The carbon emission models of the power supply and demand sides are constructed. • Three scenarios for achieving the dual-carbon target are proposed. • The electric energy substitution and CCUS are investigated in the model. [ABSTRACT FROM AUTHOR]

With the global trend of clean and low-carbon energy transformation, China has put forward the 30·60 double carbon target. However, traditional energy still need to play a supporting role in the energy transition period. The purpose of this study is to optimize the dispatching order of thermal power resource, when clean renewable energy is given priority and fully dispatching, but still can not meet the energy demand of the whole society. Different from the traditional economic dispatching, the green thermal power dispatching evaluation mechanism proposed in this paper is oriented by cleanliness, supplemented by economy and reliability. This paper set up green power dispatching evaluation model through the comprehensive use of the Analytic Hierarchy Process, Entropy Weight Method and Grey Relation Analysis. And emergy method was used to solve the problem of environmental information quantification and evaluation. Finally, we established a set of green comprehensive energy efficiency evaluation system with 16 indicators. The results showed that the dispatch sequence has changed significantly under the new mechanism, which confirmed that the model has good effect and practical value for optimizing the cleaning dispatching of thermal power. [Display omitted] • Green energy dispatching is clean-oriented, supplemented by economy and reliability. • Quantified and evaluated environmental information using emergy analysis method. • Constructed a set of complete green energy efficiency evaluation index system. • Realized refined ranking different from the rough environmental constraints. • Thermal power dispatch sequence has changed significantly under the new mechanism. [ABSTRACT FROM AUTHOR]

The spatial distribution of biomass resources is not uniform. At present, the zoning of biomass energy development suitability is primarily based on resource potential, whereas energy demand is ignored as an important factor affecting the degree of local energy self-sufficiency. Under the constraints of high transportation costs, solar energy with low geographical constraints can be a supplementary energy source for biomass despite its instability. Based on the energy utilization potential of solar energy and biomass resources, this paper evaluates the energy surplus factor (ratio of renewable resource potential to energy demand) of each city in the study area, takes meeting the specific energy surplus factor as the construction prerequisites of biomass combined heat and power (CHP) plants, calculates the biomass resource utilization rate and energy surplus factor in the study area under different conditions, and provides zoning suggestions and data reference for the unified planning of biomass CHP plants. The minimum energy surplus factor that is suitable for the development of biomass energy is set as the construction threshold of biomass CHP plants (The construction threshold is the minimum condition for the construction of biomass CHP plants. Only areas where the energy surplus factor reaches the preset construction threshold are allowed to build biomass CHP plants). The results show that the construction threshold is negatively correlated with the utilization rate of biomass resources. When the construction threshold is less than 1.4, the utilization rate of biomass resources decreases rapidly with the increase of the construction threshold; when the construction threshold is greater than 1.4, the utilization rate of biomass resources decreases slowly and tends to be flat. It is suggested that biomass resources should be developed in different regions and in stages, and priority should be given to developing areas with an energy surplus factor greater than 1.4. Areas with an energy surplus factor of 0.3–1.4 are considered secondary development areas, and areas with an energy surplus factor of less than 0.3 are not recommended for development; these can meet 31% and 59% of the total energy demand and reduce 50319380 tons and 180524400 tons carbon emissions so that the limited construction cost can meet higher energy demand and biomass resource utilization. • Priority development areas are identified based on solar and biomass potential. • Energy surplus factor is calculated to determine the development suitability. • Strategies for zoning and phased planning of biomass resources are proposed. [ABSTRACT FROM AUTHOR]