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With the increasing penetration of renewable energy resources, their variable, intermittent and unpredictable characteristics bring new challenges to the power system. These challenges require micro-meteorological data and techniques to provide more support for the power systems, including planning, dispatching, operation, and so on. This paper aims to provide readers with insights into the effects of micro-meteorology on power systems, as well as the actual improvement brought by micro-meteorology in some power system scenarios. This paper provides a review including the relevant micro-meteorological techniques such as observation, assimilation and numerical techniques, as well as artificial intelligence, presenting a relatively complete overview of the most recent and relevant micro-meteorology-related literature associated with power systems. The impact of micro-meteorology on power systems is analyzed in six different forms of power generation and three typical scenarios of different stages in the power system, as well as integrated energy systems and disaster prevention and reduction. Finally, a case study in China is provided. This case takes wind power prediction as an example in a power system to compare the performance when applying micro-meteorological data or not. The experimental results demonstrated that using the micro-meteorological reanalysis dataset with high spatial--temporal resolution for wind power prediction performed better, verifying the improvement of micro-meteorology to the power system to some extent. [ABSTRACT FROM AUTHOR]

Improving the efficiency of renewable energy and electricity utilization is an urgent problem for China under the objectives of carbon peaking and carbon neutralization. This paper proposes an optimization scheduling method of electric vehicles (EV) combined with wind and photovoltaic power based on the Frank-Copula-GlueCVaR. First, a joint output model based on copula theory was built to describe the correlation between wind and photovoltaic power output. Second, the Frank-Copula-GlueCVaR index was introduced in a novel way. Operators can now predetermine the future wind-photovoltaic joint output range based on this index and according to their risk preferences. Third, an optimal scheduling model aimed at reducing the group charging cost of EVs was proposed, thereby encouraging EV owners to participate in the demand response. Fourth, this paper: proposes the application of a Variant Roth–Serve algorithm; regards the EV group as a multi-intelligent group; and finds the Pareto optimal strategy of the EV group through continuous learning. Finally, case study results are shown to effectively absorb more renewable energy, reduce the consumption cost of the EV group, and suppress the load fluctuation of the whole EV group, which has a practical significance and theoretical value. [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]

In response to the rising importance of the climate agenda, many countries have restructured their electricity markets to facilitate the utilization of renewable energy. China is an interesting case because it has expanded its utilization of wind and solar energy with unmatched speed. This review starts with an analysis of the 2002 reforms that uncoupled electricity production from transmission. The investigation covers the period leading up to the 2022 proposal, which aimed to build a nationally integrated electricity market. The analysis suggests that a careful alignment of incentives for key market players to produce and consume renewable energy is vital during the process of energy transition. The introduction of feed-in tariffs in 2009 for wind energy, which were subsequently extended to solar energy, stimulated a high growth in installed capacity. However, a high electricity curtailment rate resulted. Since 2018, the Chinese government has resorted to curtailment caps and renewable portfolio standards to increase the utilization of renewable electricity. After the announcement of the "dual carbon goals" in 2020, the Chinese government launched a series of reforms that aimed to nurture growth in the green electricity market and the formation of a nationally integrated electricity market. The removal of interregional trade barriers is a key element of China's current electricity market reforms and will be crucial to determining whether China can achieve its climate goals. [ABSTRACT FROM AUTHOR]

The uncertain output of variable renewables adds significant challenges to the generation of affordable, reliable, and sustainable power sources in a country or region. Therefore, we propose a new stochastic nonlinear multi-objective model to optimize the power generation structure in 31 provinces of China. Considering variable renewable integration, we use Monte Carlo simulation to describe the randomness and uncertainty of renewable power output. The learning curve in the exponential expression is used to describe the nonlinear relationship between generation cost and installed capacity. The optimized results show that China can substitute fossil power with clean power. Renewable power will account for more than 42% of total power in the optimal power generation structure in 2040. In particular, the annual average growth rate of non-hydro renewable generation is expected to be 12.06%, with solar photovoltaic (PV) power growing the most by 17.95%. The share of renewable power exceeds that of thermal power in 14 provinces, and PV power represents the highest proportion at 30.21%. Reducing transmission capacity can promote the development of advantageous power in each region, such as wind power in the Northwest region and PV power in the South region, with the share increasing by 36.33% and 132.59%, respectively. [ABSTRACT FROM AUTHOR]

Coal-fired power generation will dominate the electricity supply in China in the foreseeable future. Coal fired power units can play a crucial role in integrating intermittent wind energy and improving the overall energy efficiency of the power system. The integration benefits of wind power, along with the gains of high load rates of coal fired units, should be fully taken into account. An optimal model combining wind power and coal fired units is built to analyze the operational flexibility of coal fired units and the integration of wind power. Taking the coal fired units in North China Power Grid as an example, the dispatch costs and benefits are examined under the energy efficiency dispatch mode, in comparison with those under the fair dispatch rules and the installed capacity. The results show that increasing the flexibility of the power system under the energy efficiency dispatch mode may be the best choice for the power system with the high share of coal fired units to integrate more wind power, and that the units delivering flexibility services are financially influenced. The results also indicate that a certain amount of wind power curtailment may be reasonable, and that rational penalty rate and fees for the curtailment of wind power may help to optimize the operation of the power system and integrate more wind power. Based on these results, policy and strategy recommendations are proposed to promote the flexibility of coal fired units and change their operation mode and their dispatch mode in the power system. [ABSTRACT FROM AUTHOR]