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The development of renewable energy in China has made remarkable achievements, but the problem of renewable energy consumption has become increasingly prominent. This paper establishes a power market trading system for renewable energy, with the aim of promoting large-scale renewable energy consumption and increasing the enthusiasm of renewable energy producers and users to participate in market transactions. First, according to the power generation cost, the backup cost of renewable energy power plants and the possible quotation strategies of other renewable energy producers, a quotation model of renewable energy producers is established. In the clearing of the spot market by renewable energy producers, the independent market operator conducts the first-stage clearing of the electricity market with the goal of maximizing social welfare. After the announcement of the clearing results, the renewable energy producers that did not win the bid will revise their quotations and carry out the second stage clearing to realize the consumption of renewable energy. In this paper, the particle swarm algorithm combined with the CPLEX solver is used to solve the problem, and finally, different scenarios are analyzed through example analysis. The results show that, compared with the conventional power market trading mechanism, the energy abandonment rate of the power market trading mechanism for renewable energy proposed in this paper drops from 8.2% to 2.1%, and the profit margin of renewable energy producers increase by 6.6%. It is demonstrated that the proposed electricity market mechanism can effectively promote the consumption of renewable energy and increase the income of renewable energy producers. [ABSTRACT FROM AUTHOR]

This empirical study investigates the dynamic interconnection between fossil fuel consumption, alternative energy consumption, economic growth and carbon emissions in China over the 1981 to 2020 time period within a multivariate framework. The long-term relationships between the sequences are determined through the application of the Autoregressive Distributed Lag (ARDL) bounds test and augmented by the Johansen maximum likelihood procedure. The causal relationships between the variables are tested with the Granger causality technique based on the Vector Error Correction Model (VECM). Empirical results reveal the existence of a statistically significant negative relationship between alternative energy consumption and carbon emissions in the long-term equilibrium. Furthermore, the VECM results demonstrate that both carbon emissions and fossil fuel consumption have unidirectional effects on economic growth. Additionally, the study highlights a short-term unidirectional causal relationship from economic growth to alternative energy consumption. These findings suggest that a reduction in fossil fuel consumption in the short run may indirectly impede the development of alternative energy. The study proposes that China should expedite the development of alternative energy and control the expansion of fossil fuel consumption to attain its carbon reduction target without hindering economic growth. [ABSTRACT FROM AUTHOR]

As one of the countries with the most rapid development of new energy, China has been committed to exploring countermeasures to the challenges of new energy consumption. After more than ten years of consideration and consultation, the "renewable portfolio standard"(RPS) for "renewable energy power consumption responsibility weighting" has landed in China. However, in the official affirmation issued by the National Energy Administration, theoretical support for the basis of the initial quota allocation is still lacking. In this study, we examine the efficiency of the weight allocation scheme for renewable energy power consumption responsibilities, which was announced by the National Energy Administration in 2018 and which is based on the BCC-DEA efficiency model. The results indicate that most provinces have low allocation efficiency under this allocation scheme. Therefore, we propose an optimal allocation scheme for a renewable energy consumption quota, based on the ZSG-DEA model. With the achievement of its target, this study's allocation scheme would ensure 100% efficiency in all provinces, improve provincial economic efficiency, and simultaneously bring economic growth. After analyzing the fairness before and after adjustment of the RPS, our findings suggest that the adjusted RPS allocation scheme can promote equity in per capita renewable electricity consumption. [ABSTRACT FROM AUTHOR]