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The EU has set the ambitious target of raising the share of EU energy consumption produced from renewable resources to 32% by 2030, with a target of climate neutrality by 2050. The aim of this paper is to assess the role of biomass usage in the context of these targets. The paper identifies the progress made between 2013 and 2022 by focusing on a selection of EU countries. The largest bioenergy increments of 130, 77, and 60 PJ were reported for Poland, Sweden, and the Netherlands. This study evaluates the crucial role of co-generation and heat in EU regions, with biomass usage between 55 and 80% of the combined heat and power (CHP) energy in Nordic countries. The future perspectives for bioenergy based on EU policies, biomass resources, and technical issues were addressed. The EU possesses around 9% of the global biomass supply, ensuring a certain level of biomass resource dependence. Thus, the biomass usage demand in energy production, non-energy sectors, and transport is expected to rise, leading to increments of 13–76% on biomass imports. It appears that bioenergy development is mostly limited by economic issues and uneven support for bioenergy in different EU countries as well as environmental issues. The study shows a promising and sustainable potential of bioenergy in the EU as a renewable energy source while minimizing negative impacts on the environment and the economy. By 2050, liquid biofuels are likely to be increasingly used in the transport sector. Non-energy sector usage of biomass is still in an early stage of development, except for the pulp and paper industry, and significant use of biomass in non-energy sectors seems unlikely in the near future. [ABSTRACT FROM AUTHOR]

In order to achieve the ambitious goal of "carbon neutrality", countries around the world are striving to develop clean energy. Against this background, this paper takes China and Italy as representatives of developing and developed countries to summarize the energy structure composition and development overview of the two countries. The paper analyzes the serious challenges facing the future energy development of both countries and investigates the possibilities of energy cooperation between the two countries, taking into account their respective advantages in energy development. By comparing the policies issued by the two governments to encourage clean energy development, this paper analyzes the severe challenges faced by the two countries' energy development in the future and combines their respective energy development advantages to look forward to the possibility of energy cooperation between the two countries in the future. This lays the foundation for China and Italy to build an "Energy Road" after the "Silk Road". [ABSTRACT FROM AUTHOR]

With a significant share of renewable power generation integrated into the power supply, it is crucial to timely adjust the regulating peak load for coal-fired power plants equipped with CO2 capture to ensure the stable operation of the multi-energy supply system. In this paper, the effects of varying boiler loads on the techno-economic performance of the retrofitted power plant were studied. Furthermore, the potential for reducing the cost of CO2 capture was investigated, and early opportunities for demonstration were discussed. Results showed that when the boiler load decreased from 100% turbine heat acceptance condition to 50% turbine heat acceptance condition, the cost of CO2 capture increased from 37.0 $/t CO2 to 57.0 $/t CO2, cost contribution of energy penalty and extra capital investment also increased from 20.6 $/t-CO2 to 25.7 $/t-CO2, and from 16.4 $/t-CO2 to 31.3 $/t-CO2, respectively. Furthermore, by improving separation efficiency from 0.15 to 0.5, a 25% to 30% reduction in CO2 capture cost can be achieved. The cost of CO2 capture could decrease by 42.2–50.5% when the cumulative capacity reaches 250 GW under the high investment learning rate scenario. According to the distribution of coal prices and renewable energy sources in China, the early demonstration projects of multi-energy supply systems should prioritize the northern region. The results of this work can provide informative references for making roadmaps and policies for CO2 emission reduction toward carbon neutrality. [ABSTRACT FROM AUTHOR]

The transformation of the energy sector, based on the development of low-carbon technologies, is essential to achieve climate neutrality. The Life Cycle Assessment (LCA) is a powerful methodology for assessing the environmental impact of energy technologies, which proves to be a useful tool for policy makers. The paper is a review of the main LCA studies of power generation systems performed over the past ten years aiming at comparing the energy technologies to identify those with the lowest impact on the environment, evaluated in terms of gCO2eq/kWh emissions. Screening criteria were established to include only studies of the highest qualitative significance. The authors decided to assign greater weight to emission values reported in more recent studies. For nuclear and renewable energy technologies, most of the emissions are related to the pre-operational phases. Notably, both nuclear and wind technologies, along with other renewable sources throughout their entire life cycle, exhibit significantly lower and less variable emissions compared with conventional gas- and coal-fired technologies. [ABSTRACT FROM AUTHOR]

The steelmaking industry is responsible for 7% of global CO2 emissions, making decarbonization a significant challenge. This review provides a comprehensive analysis of current steel-production processes, assessing their environmental impact in terms of CO2 emissions at a global level. Limitations of the current pathways are outlined by using objective criteria and a detailed review of the relevant literature. Decarbonization strategies are rigorously evaluated across various scenarios, emphasizing technology feasibility. Focusing on three pivotal areas—scrap utilization, hydrogen integration, and electricity consumption—in-depth assessments are provided, backed by notable contributions from both industrial and scientific fields. The intricate interplay of technical, economic, and regulatory considerations substantially affects CO2 emissions, particularly considering the EU Emissions Trading System. Leading steel producers have established challenging targets for achieving carbon neutrality, requiring a thorough evaluation of industry practices. This paper emphasizes tactics to be employed within short-, medium-, and long-term periods. This article explores two distinct case studies: One involves a hot rolling mill that utilizes advanced energy techniques and uses H2 for the reheating furnace, resulting in a reduction of 229 kt CO2-eq per year. The second case examines DRI production incorporating H2 and achieves over 90% CO2 reduction per ton of DRI. [ABSTRACT FROM AUTHOR]

Renewable energy sources generated locally are becoming increasingly popular in order to achieve carbon neutrality in the near future. Some of these sources are being used in neighbourhood (local, or energy communities) grids to achieve high levels of self-sufficiency. However, the objectives of the local grid and the distribution grid to which it is connected are different and can sometimes conflict with each other. Although the distribution grid allows access to all variable resources, in certain circumstances, such as when its infrastructure is overloaded, redispatch measures need to be implemented. The complexity and uncertainties associated with current and future energy systems make this a challenging bi-level multi-criteria optimisation problem, with the distribution grid representing the upper level and the neighbourhood grid representing the lower level. Solving these problems numerically is not an easy task. However, there are new opportunities to solve these problems with less computational costs if we decompose the flexibility in the lower lever. Therefore, this paper presents a mathematical approach to optimise grid management systems by aggregating flexibility from neighbourhood grids. This mathematical approach can be implemented with centralised or decentralised algorithms to solve congestion problems in distribution grids. [ABSTRACT FROM AUTHOR]

Guangxi is a typical developing region on the southern coast of China. The current issues encountered in the region's development are that fossil energy accounts for about 80% of the energy structure, fossil fuels are heavily dependent on imports, and the self-sufficiency rate of resources is only 32%. These challenges have created a disparity between the current regional development state and the country's dual carbon target. Under the premise of comprehensively considering the multi-sectors of electricity, industry, transportation, and heating, this paper presents a study on the energy system transition towards low-carbon development for Guangxi in four steps. Firstly, to demonstrate EnergyPLAN's capability in energy modeling, a reference scenario for Guangxi is created using official yearbook data from 2020. Then, a short-term scenario is formulated to analyze the development of Guangxi's energy system during the 14th Five-Year Plan. Furthermore, two mid-term scenarios are established, revealing that Guangxi is anticipated to reach its carbon emission peak between 2025 and 2030. Finally, three long-term scenarios are proposed for Guangxi's energy system for 2050. These scenarios encompass the expansion of photovoltaics, nuclear, and wind power in the electricity system and emission reduction policies in the industrial, transportation, and heating sectors. As a result, compared with the 2020REF scenario, Guangxi can achieve a carbon emission reduction exceeding 57% and the share of non-fossil energy consumption can reach about 70% in the 2050 scenarios, despite a substantial increase in energy consumption, which makes it possible to achieve carbon neutrality in 2060 and to establish an energy system with less than 20% of fossil energy consumption. [ABSTRACT FROM AUTHOR]

The ambitious goal of the European Union (EU) countries is to achieve carbon neutrality by providing inclusive economic growth, which requires the development of relevant incentives and initiatives. Furthermore, such incentives and initiatives should guarantee the achievement of the declared goals. Energy sectors are the core determinant of inclusive economic growth. Traditional energy resources (coal oriented) have a higher negative impact on nature and people's well-being than on economic and social benefits. However, the transition to renewable energy raises new issues in achieving goals of inclusive economic growth: affordable and clean energy, responsible energy consumption, and energy infrastructure. The analysis of the theoretical framework found that the digitalization of government could be a core instrument for handling the abovementioned issues. The paper aims to justify the role of green energy in achieving inclusive economic growth empirically. The study applies the following methods: fully modified Ordinary Least Square (OLS) and canonical cointegrating regression. The findings allow concluding that institutional quality passively affects inclusive economic growth and that the digitalization of government has a U-shaped impact on inclusive economic growth. In this case, countries should boost the digital transformation of public services and continuously increase the quality of institutions. [ABSTRACT FROM AUTHOR]

There is increasing interest in migrating to a carbon-neutral power system that relies on renewable energy due to concerns about greenhouse gas emissions, energy shortages, and global warming. However, the increasing share of renewable energy has added volatility and uncertainty to power system operations. Introducing new devices and using flexible resources may help solve the problem, but expanding the domain of the problem can be another solution. Sector coupling, which integrates production, consumption, conversion, and storage by connecting various energy domains, could potentially meet the needs of each energy sector. It can also reduce the generation of surplus energy and unnecessary carbon emissions. As a result, sector coupling, an integrated energy system, increases the acceptance of renewable energy in the traditional power system and makes it carbon neutral. However, difficulties in large-scale integration, low conversion efficiency and economic feasibility remain obstacles. This perspective paper discusses the background, definition, and components of sector coupling, as well as its functions and examples in rendering power systems carbon-neutral. The current limitations and outlook of sector coupling are also examined. [ABSTRACT FROM AUTHOR]

Enhancing carbon emission mitigation and carbon utilization have become necessary for the world to respond to climate change caused by the increase of greenhouse gas concentrations. As a result, carbon capture, utilization, and storage (CCUS) technologies have attracted considerable attention worldwide, especially in China, which plans to achieve a carbon peak before 2030 and carbon neutrality before 2060. This paper proposed six priorities for China, the current world's largest carbon emitter, to achieve its dual carbon strategy in the green energy transition process. We analyzed and summarized the challenges and potentialities of conventional carbon utilization (CU), carbon capture utilization (CCU), and CCUS. Based on the current development trend, carbon dioxide capture, circular utilization, and storage (CCCUS) technology that integrates carbon circular utilization and partial sequestration, with large-scale underground energy storage were proposed, namely biomethanation. Technically and economically, biomethanation was believed to have an essential contribution to China's renewable energy utilization and storage, as well as the carbon circular economy. The preliminary investigation reveals significant potential, with a corresponding carbon storage capacity of 5.94 × 108 t~7.98 × 108 t and energy storage of 3.29 × 1012 kWh~4.42 × 1012 kWh. Therefore, we believe that in addition to vigorously developing classical CCUS technology, technical research and pilot projects of CCCUS technology that combined large-scale underground energy storage also need to be carried out to complete the technical reserve and the dual-carbon target. [ABSTRACT FROM AUTHOR]

LVDC buildings use a low-voltage direct current (LVDC) distribution system for energy transmission and integrate photovoltaic (PV), battery energy storage (BES) and the utility grid as building energy resources. This technology can reduce energy loss in conversion to a certain extent and increase renewable energy compared with traditional AC distribution systems. Under the national goal of carbon peaking and carbon neutrality, LVDC buildings have been proven to be a new approach to energy conservation and emission reductions, and have been applied in engineering in China. However, the construction methods and integrated technologies of those projects are not clear, and technical barriers and policy constraints for the engineering application of LVDC buildings are not systematically discussed yet. This paper presents the latest study of LVDC building engineering applications the advantages and drawbacks of LVDC development in China. First, relevant policies and standards which support the development of LVDC building industries are summarized. More than 60 practical LVDC projects are investigated, and the application characteristics and the technology status of building types, and their capacity and design methods, etc., are analyzed. The attitudes of stakeholders toward LVDC buildings are surveyed to determine the policy direction according to the demands of this technology, with reference to building practitioners who intend to engage in LVDC projects. [ABSTRACT FROM AUTHOR]

The current legal and policy system of renewable energy in China has set up a framework of policy instruments, which provides an important foundation for dealing with climate change and promoting the healthy development of the renewable energy industry with the goal of "carbon neutrality" and "emission peak". However, the current policy instruments cannot meet the needs for rapid development of the renewable energy industry. This paper investigates, analyzes, and concludes the status of renewable energy development along with related policy instruments in different renewable energy sources by literature and points out the problems of current policy instruments, and puts forward corresponding countermeasures. Moreover, from the perspective of energy consumption market transformation, the authors carried out an analysis of China's challenges of policy instruments, pointing out that China's renewable energy policy instruments have the potential to take one step further in the areas of the regulatory system, legal system and legal security system. [ABSTRACT FROM AUTHOR]

With its abundance of renewable energy potentials, not only for hydropower and bioenergy, but also for wind and solar, Brazil provides good prospects for a carbon neutral energy system. The role of an enhanced coupling of the power, heat and transport sectors in such systems is not yet fully understood. This paper analyses the least-cost composition and operation of a fully renewable power supply system as part of a carbon neutral energy supply in Brazil. It relies on the application of the high-resolution energy system model REMix. Our analysis reveals that the expansion of wind and solar power is more cost-efficient than the construction of additional hydroelectric plants. This is favoured because the existing hydroelectric plants offer large capacity of dispatchable power to compensate for fluctuations, and thus no additional storage is necessary. Furthermore, the REMix analysis indicates that varying shares of solar and wind power technologies as well as the spatial distribution of power generation have only a small influence on supply costs. This implies that the transformation strategy in Brazil can be primarily based on other criteria such as regional development, public acceptance, environmental impact or industrial policy without major impacts on system costs. [ABSTRACT FROM AUTHOR]

China's emissions continue to rise rapidly in line with its mounting energy consumption, which puts considerable pressure on China to meet its emission reduction commitments. This paper assesses the impacts of CO2 mitigation measures in China during the period from 2010 to 2050 by using a computable general equilibrium method, called AIM/CGE. Results show that renewable energy makes a critical difference in abating emissions during the period from 2010 to 2020. The scenarios with emission trading would drive more emission reductions, whereby the emission-cutting commitment for 2020 would be achieved and emission reductions in 2050 would be more than 57.90%. Meanwhile, the share of non-fossil energy increases significantly and would be more than doubled in 2050 compared with the BAU scenario. A carbon tax would result in a significant decline in emissions in the short term, but would have an adverse effect on economic growth and energy structure improvements. It is also observed that the integrated measures would not only substantially decrease the total emissions, but also improve the energy structure. [ABSTRACT FROM AUTHOR]

It is imperative to use clean energy in order to achieve "carbon neutrality" and "carbon peaking". This research aims to explore the impact of the agricultural mechanization level, the rural infrastructure construction level, and the rural economic development level on the utilization of high-quality straw energy, and, resultingly, this study aims to help provide suggestions for promoting high-quality straw energy utilization, develop the potential of high-quality straw energy, and alleviate China's energy shortage problem. This paper develops a measurement model using the ridge regression model with panel fixed effects, which overcomes the multi-collinearity problem among the various factors influencing the utilization of high-quality energy from straw. Panel data from 24 provinces and cities, from 2009 to 2017, are used. The results show that the improvements of the agricultural mechanization level, the rural infrastructure construction level, and the rural economic development level all promote the use of high-quality straw energy. Moreover, the level of rural economic development plays a mediating role in the agricultural mechanization level and the rural infrastructure construction level pertaining to straw-based high-quality energy. Policy implications can be easy to derive based on our findings, and these include strengthening governmental investment in agricultural machinery in rural areas, paying more attention to areas with backward rural energy infrastructure construction, ensuring the steady improvement of economic development in rural areas, providing the necessary economic foundation for agricultural supply, and promoting the use of high-quality energy from straw. [ABSTRACT FROM AUTHOR]

Green bonds have increasingly been utilized around the world as a source of financing for renewable energy development, designed with compliance requirements and measurable economic returns to investors, while mitigating climate change. However, the efficacy of green bond arranged in the emerging economies for financing renewable energy assets and how the underlying risks are managed have remained to be explored. The paper aims to examine the evolving green financial system sponsored by both public and private institutions in managing such risks within China's emerging economy. A case study of green financing for a bundle of wind power assets led by a state-owned enterprise (SOE) reveals an alternative approach by structuring public–private collaboration while stipulating market-based financial incentives to institutional stakeholders under a political economy. This institutional consortium is composed of a state development bank, a commercial bank, credit rating agencies, institutional and private investors, regional power purchasers, and carbon trading entities. Financial stakeholders' risk in such emerging sustainable investment is moderated by these participating institutions and structured "upsides" from carbon trading aligned with the framework of green finance and standards for green bond development. The results reveal the potentials of scaling up the development of renewable energy by adequately managing and sharing key risks, while allocating substantial funding into renewable energy projects under such a green financial system that is to be complementary with a scalable post COVID-19 economic recovery. [ABSTRACT FROM AUTHOR]

A carbon market was introduced for the first time in January 2005, when the EU assigned carbon emission allowances to approximately 15,000 enterprises in 25 countries and established a market for emissions trading. In Korea, the carbon emission trading system started from January 2015 with three phases running up to 2025. As many countries have introduced carbon markets, new evaluation models that consider not only fossil energy prices but also carbon emission costs are necessary because additional costs of using fossil energy might have been incurred due to carbon emissions. The purpose of this paper is to develop a real option model that considers not only the uncertainty of existing fossil energy prices, but also the uncertainty of carbon emission rights prices, in evaluating the economic value of renewable energy R&D. Using the real option model, we attempted to assess the effects of the uncertainty of newly appearing carbon markets on the economic value of renewable energy R&D in Korea empirically. Furthermore, we derived an optimal decision path according to the uncertain future situations of fossil energy and carbon markets by analyzing a trinomial lattice model in which the optimal timings of R&D and deployment are identified. [ABSTRACT FROM AUTHOR]

Palm oil's utilization as a renewable energy (RE) source has led the government to intervene by introducing emission reduction projects. Carbon trading projects are part of the strategic direction adopted within the climate mitigation plan and sustainability drive in the palm oil industry. The perquisites and opportunities encountered within emissions trading are expected to aid palm oil producers economically, environmentally, and socially. This study addresses and analyses how the carbon trading projects' targets in Malaysia can be achieved, the problematic, and pressing issues around their implementation and whether these projects are sustainable and create a positive impact. This paper is based on literature reviews and semi-structured interviews with expert palm oil producers in Malaysia. The findings have revealed that carbon trading implementation in Malaysia has delivered new insights towards the international climate policy approach on the feasibility and impact of long-term sustainability goals. However, the impact of the implementation needs support from the government for further development. In conclusion, the major contribution of this study is that the carbon trading implementation in Malaysia complies with the objectives and principles of sustainable development and creates a significant influx in investment for Malaysia's economic growth. [ABSTRACT FROM AUTHOR]

Under the carbon trading mechanism, renewable energy projects can gain additional benefits through Chinese Certified Emission Reduction transactions. Due to the uncertainty of carbon trading system, carbon prices will fluctuate randomly, which will affect the investment timing of renewable energy projects. Thus, the value of the option will be generated. Therefore, renewable energy power generation project investment has the right of option. However, the traditional investment decision-making method can no longer meet the requirements of renewable energy investment in the current stage. In this paper, a real option model considering carbon price fluctuation is proposed as a tool for renewable energy investment. Considering optimal investment timing and carbon price, the model introduces a carbon price fluctuation as part of the optimization, studies the flexibility of enterprises’ delayed investment under the fluctuation of carbon price. A case study is carried out to verify the effectiveness of the proposed real option model by selecting a wind farm in North China. The model is expected to help investors to assess the volatility and risk of renewable energy projects more accurately, and help investors to make a complete plan for the project investment, thus promoting the efficient allocation of resources in the energy industry. [ABSTRACT FROM AUTHOR]