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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]

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]

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]

The carbon emissions of the power industry account for over 50% of China's total carbon emissions, so achieving carbon peak and carbon neutrality in the power sector is crucial. This study aims to simulate the impacts of three energy policies—carbon constraints, the development of a high proportion of renewable energy, and carbon trading—on China's energy transition, economic development, and the power sector's energy mix. Through the construction of a dynamic computable general equilibrium (CGE) model for China and its integration with the SWITCH-China electricity model, the impact of diverse energy policies on China's energy transition, economic progress, and the power mix within the electricity industry has been simulated. The integration of the SWITCH-China model can address the limitations of the CGE model in providing a detailed understanding of the specific intricacies of the electricity sector. The results indicate that increasing the stringency of carbon restrictions compels a reduction in fossil energy use, controlling the output of coal-fired power units, and thereby reducing carbon emissions. The development of a high proportion of renewable energy enhances the cleanliness of the power sector's generation structure, further promoting the national energy transition. Implementing a carbon trading policy, where the entire industry shares the burden of carbon reduction costs, can effectively mitigate the economic losses of the power sector. Finally, the policies to further enhance the implementation of carbon trading policies, strengthen effective governmental regulation, and escalate the deployment of renewable energy sources are recommended. [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]

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]

With China's carbon peak and target proposed and the power system as an important source of carbon emissions, its carbon reduction issues are of great concern. However, the mismatch between power demand, resources, and generation facilities in different regions of China creates enormous carbon reduction pressures, especially in the region covered by China's Northeast Power Grid (NE Grid). Therefore, in this study, a two-stage power optimization model considering Carbon Capture, Utilization, and Storage (CCUS) was established to optimize the national power generation and transmission in China from 2020 to 2060 first and then to optimize the regional road map of energy structure adjustment for China's NE grid and its CO2 storage strategy. The first stage optimization results show that the national power interaction in China can make full use of the energy resource advantages of the NE grid, especially Jilin and Mengdong, delivering clean electricity to the North China grid as it reaches its "dual carbon" goal. Additionally, the second-stage optimization results show that the NE grid can make good use of CCUS for its thermal power transition. Annual CO2 storage will peak at 204 Mt in 2050 as thermal power withdraws in the NE grid region, which provides a reference for other regions to realize carbon neutrality of their power system by using CCUS. [ABSTRACT FROM AUTHOR]