Search

Renewable energy is regarded as an effective method to alleviate environmental pollution and accelerate the green transition in China. This paper systematically investigates the impact of financial inclusion on renewable energy demand by using S-GMM model based on provincial data in the green finance era. This paper also analyzes the asymmetry, heterogeneity, and mediating mechanism in the nexus between financial inclusion and renewable energy demand, and highlights the following findings: (1) Improved financial inclusion can promote renewable energy development in China and present the characteristics of green finance; (2) the impact of financial inclusion on renewable energy demand is asymmetric and heterogeneous; specifically, this impact is much higher in northern China and the regions with higher renewable energy development; and (3) wind and photovoltaic power generation are effective mediators between financial inclusion and renewable energy industry, while the mediation effects of hydropower and nuclear power are not significant. New evidence in this study is presented for the achievement of green transition in China, as well as practical policy implications for improving financial inclusion and increasing renewable energy consumption. For instance, fiscal and tax incentives and green investment subsidies in the renewable energy sector need to be further improved. • This study explores the impact of financial inclusion (FI) on renewable energy demand (RED) in China. • Asymmetry, heterogeneity, and the mediating mechanism are further discussed. • Increased FI can promote RED , which presents the characteristics of green finance. • The impact of FI on RED is asymmetric and heterogeneous. • Wind and photovoltaic power are effective mediators between FI and RED. [ABSTRACT FROM AUTHOR]

Carbon emission flow is an effective tool to obtain carbon emission distribution in power systems, which can guide the active carbon reductions of consumers through proper incentive schemes. With the increasing penetration of renewable energy, the existing single-valued carbon emission flow model based on deterministic forecasted power outputs cannot describe the impacts of renewable energy uncertainties on carbon flows. Therefore, this paper mainly focuses on the assessment of the probabilistic carbon emission flow through the power systems considering the impacts of load and renewable energy uncertainties. In this paper, the probabilistic carbon emission flow (PCEF) is innovatively proposed. With the PCEF, consumers can make better energy use plans considering their own risk appetites for carbon emission payment. Firstly, the impact factors of the PCEF are modeled, including load and renewable energy uncertainties and integrated carbon intensity of thermal plants. The uncertainties of load, wind power and photovoltaics are modeled based on a p-box method while the uncertainty of hydropower is modeled based on the multi-state model. Besides, the integrated carbon intensity model of thermal plants are proposed considering the carbon intensity variations during the operating, start-up, and shut-down stages. Furthermore, the probabilistic carbon emission evaluation framework is proposed to assess the probabilistic carbon distribution. In this framework, novel probabilistic carbon indices are defined to precisely characterize the carbon emission situation with probabilistic representations. A solution method based on an adaptive interval point estimation (AIPEM) algorithm is proposed to efficiently solve the developed evaluation problem. Tests on an IEEE-30 node system, and a real provincial power system in China validate the effectiveness and application of the proposed model. The results showed that the PCEF can be a useful tool for obtaining the probabilistic representation of carbon emission flow and guiding the consumers' active carbon reduction in power systems. • Probabilistic carbon emission flow is proposed considering multiple uncertainties. • Integrated carbon intensity model for thermal plants is developed. • A p-box model is used to describe the uncertainties of load and renewable energy. • PCEF can help consumers balance the cost and carbon risk when making decisions. [ABSTRACT FROM AUTHOR]

As global energy demand continues to grow, the demand for renewable energy continues to rise. To meet this demand, many countries have begun to actively promote the development of offshore wind power projects. Since siting is the key to the success of offshore wind power projects, this paper aims to develop a mixed decision-making framework to address the siting of offshore wind power station (OWPS). Firstly, establish a relatively comprehensive OWPS evaluation attribute system. Secondly, the pythagorean hesitation fuzzy set (PHFS) was used to describe the evaluation information in the OWPS site selection process. It can ensure the hesitancy and fuzziness of evaluation information, and is not constrained by the sum of membership and non membership being less than 1. Thirdly, the improved SWARA method is used to calculate the weight of attributes. Finally, an extended MULTIMOORA (Multi-Objective Optimization on the basis of a Ratio Analysis plus the Full Multiplicative form) method is proposed to rank the siting alternatives for OWPS. The proposed method is applied to the study of OWPS site selection in Shandong Province, China. Through calculation, the comprehensive ranking values are G 1 = 14, G 2 = 7, G 3 = 4, G 4 = 8 and G 5 = 13. Therefore, A 3 is the best alternative. Through sensitivity analysis and comparative analysis, it was verified that the proposed model has good reliability and stability. • A new multi-attribute decision-making model is proposed. • The attribute system for site selection evaluation of OWPS is established. • Expression of evaluation information by pythagorean hesitation fuzzy set. • Pythagorean hesitation fuzzy set and SWARA are combined to calculate attribute weight. • An improved MULTIMOORA method is proposed. [ABSTRACT FROM AUTHOR]

Transnational power cooperation contributes to promoting the large-scale use of renewable energies in Asia, but how to develop the structure of power transmission network deserves careful investigation. This paper thoroughly investigates the structure of power investment and transmission network in China and neighbouring countries, aiming to promote the large-scale use of renewable energies around Asia. Various power-generation and power-transmission technologies are considered in detail, and transnational power interconnection risk cost and carbon emission cost are embedded into a bottom-up optimization model. The future power-generation structures and networks installed under various policy scenarios are analysed in detail, and the corresponding economic, carbon emission reduction and renewable energy consumption benefits are evaluated. The results show that power transmission between China's internal regions and neighbouring countries can save $56.7 billion for the entire power system through the large-scale grid integration of renewable energy. The installed capacities of wind power, solar power, and hydropower renewable energy power generation could be increased by 141 GW, 163 GW, and 58 GW, respectively. The construction of transnational transmission lines from Central Asia to Northwest China, Mongolia to North China, the Russian Far East to Northeast China, and Northeast China to South Korea could effectively promote the utilization of renewable energy in the Russian Far East, Mongolia and Central Asia and further reduce carbon emissions in China, Japan and South Korea. • It examines how to construct a power investment and transmission network in Asia. • Various technologies, risks and costs are considered based on bottom-up model. • Huge benefits exist for power transmission between China and neighbouring countries. • Various power-generation structures and networks installed are analysed in detail. • Suggestions about power investment and transmission are given for Asian countries. [ABSTRACT FROM AUTHOR]

Under the carbon peak and neutrality targets, the power generation industry in China is facing an urgent demand for a low carbon transition and participation in the electricity-carbon market. This paper novelty proposes a near-zero carbon emission power plant (NZCEP) integrating gas turbines, wind turbines, power-to-gas and the carbon capture, utilization and storage system. And a two-stage Data-driven Set based robust optimization (DSRO) model, including a day-ahead dispatching phase and a real-time adjustment phase, is conducted to ensure the consumption of renewable energy resources and to develop the optimal operating strategy for NZCEP participation under the electricity-carbon market. The results demonstrated the following outcomes: (1) NZCEP shows better environmental benefits by reducing carbon emissions and consuming renewable energy resources. (2) the DSRO model can resist the interference of wind power output uncertainties and address the issue of traditional robust models being overly conservative. (3) under the electricity-carbon market, NZCEP shows better economic benefits, which can generate additional revenue from selling surplus carbon emission allowances (CEA). Moreover, when the annual average CEA price reaches 355 CNY/t, the NZCEP will achieve full capital cost recovery. • Optimal operation of near-zero carbon emission power plant (NZCEP) is studied. • A Data-driven robust optimization model is proposed for NZCEP operating. • Carbon emissions reduction and wind power accommodation of NZCEP are verified. • The economy of NZCEP participation in the electricity-carbon market is analyzed. [ABSTRACT FROM AUTHOR]

• Province-level grid parity potential of wind and solar PV power plants in China. • Techno-economic feasibility of baseload supply in hybrid renewable energy system. • Correlation analysis of system cost and resource potential and complementarity. • Projected Grid parity potential of renewable energy system for baseload supply. To promote the large-scale deployment and grid integration of renewable-based power system, this paper investigates the province-level techno-economic feasibility of wind-photovoltaic-battery hybrid renewable energy system (HRES) for baseload supply application around China. Firstly, the power generation cost and grid parity potential of province-level standalone wind and photovoltaic power plants are assessed. Then, the optimal sizing of province-level HRESs aims to minimize the net present cost and meet the reliability constraint for baseload supply, which is solved by teaching and learning-based optimization. Finally, the techno-economic comparison between different system configurations, the correlation between HRES cost-effectiveness and resource potential as well as resources complementarity, and the grid parity potential of HRES for baseload supply are quantitatively analyzed. The results reveal that: (i) 84.4% of regions in China can achieve solar photovoltaic plant-side grid parity in 2022, while only 15.6% of regions can achieve wind power plant-side grid parity; (ii) HRESs in all regions are technically feasible but not cost-effective for baseload supply; (iii) wind-photovoltaic-battery HRES is the optimal configuration for most regions, indicating that the wind-solar hybridization is more reliable and cost-effective than standalone power plants; (iv) the economic performance of HRES depends mainly on the wind-solar joint resource potentials and the supply-demand relative deviation; (v) investment cost reduction and utilization of energy curtailment are promising to help HRES achieve plant-side grid parity for baseload supply. The findings of this paper can help policy-makers and investors optimally determine the national pathway of renewable energy transition. [ABSTRACT FROM AUTHOR]

[Display omitted] • A method for spatiotemporal coordination of multienergy systems is proposed. • Virtual energy storage gain is calculated based on spectral analysis. • The hydropower regulation ability affects the virtual energy storage gain. • The optimal coordination range between multiple energy sources is obtained. Utilizing the spatial heterogeneity and climate periodicity of various available renewable energy sources can enhance the multienergy complementarity, which will further reduce the energy storage demand and contributes to the "virtual energy storage gain." In this paper, we propose a spatiotemporal coordination method based on spectral analysis for a wind-PV-hydropower system that targets the maximum virtual energy storage gain. The complementary effect of hydropower on wind and PV power can be seen as changes in the regulation ability resulting from the hydropower construction development as well as a decreased variance in the total system production output. This method is used to determine the optimal coordination distance of multiple energy sources that are matched over different periods representing typical climate variation. A case study in the Yalong River basin in China obtains the best range of hydropower bundling surrounding wind power and PV power stations under different hydropower construction planning scenarios, and it reveals that increased regulation capacity of hydropower will reduce the optimal coordination distance but can achieve more energy balance if both actual storage and virtual storage is accounted for. This approach can realize energy delivery with the optimal coordination distance to meet intensive and efficient development needs, which can provide guidance and support for the planning and construction of wind-PV-hydropower storage systems. [ABSTRACT FROM AUTHOR]

Under China's current Renewable Portfolio Standards (RPS) policy system, the provincial power grid is the assessment subject, and then the assessment is conducted on the user side. However, in the centralized clearing power market, renewable energy (RE) consumption on the user side cannot be accurately identified, so accurate value transmission cannot be formed to guide users to optimize their electricity consumption behavior. To improve this problem, this paper identifies the irreplaceable role of users in RE consumption through time series simulation. We construct a three-layer RPS assessment value transmission model of "power grid company - retailers - users" based on the identified unique contributions of each user. The equilibrium state of multi-market participants is obtained based on the decentralized training framework of reinforcement learning. The following conclusions are drawn through simulation analysis:(1) the user-side RE contribution identification method can effectively identify the user's contribution to RE consumption, which can reduce about 8% or increase about 7.48% of RPS cost allocation according to different contribution degrees; (2) the RPS value allocation mode can optimize users' power consumption behavior, achieve peak shaving and valley filling, promote RE consumption, and reduce about 0.6% of the abandoned wind power; (3) Under the RPS system, the effect of improving the response-ability of the user-side is better than increasing the RPS target and the peak shaving capacity. • Accurately identify the RE consumption of users under the unified clearing mode. • Construct a transmission mode of RPS assessment among grid, retailers, and users. • Construct a distributed training framework of multi-agent. • The research is helpful in promoting the consumption of new energy. [ABSTRACT FROM AUTHOR]

Under China's current Renewable Portfolio Standards (RPS) policy system, the provincial power grid is the assessment subject, and then the assessment is conducted on the user side. However, in the centralized clearing power market, renewable energy (RE) consumption on the user side cannot be accurately identified, so accurate value transmission cannot be formed to guide users to optimize their electricity consumption behavior. To improve this problem, this paper identifies the irreplaceable role of users in RE consumption through time series simulation. We construct a three-layer RPS assessment value transmission model of "power grid company - retailers - users" based on the identified unique contributions of each user. The equilibrium state of multi-market participants is obtained based on the decentralized training framework of reinforcement learning. The following conclusions are drawn through simulation analysis:(1) the user-side RE contribution identification method can effectively identify the user's contribution to RE consumption, which can reduce about 8% or increase about 7.48% of RPS cost allocation according to different contribution degrees; (2) the RPS value allocation mode can optimize users' power consumption behavior, achieve peak shaving and valley filling, promote RE consumption, and reduce about 0.6% of the abandoned wind power; (3) Under the RPS system, the effect of improving the response-ability of the user-side is better than increasing the RPS target and the peak shaving capacity. • Accurately identify the RE consumption of users under the unified clearing mode. • Construct a transmission mode of RPS assessment among grid, retailers, and users. • Construct a distributed training framework of multi-agent. • The research is helpful in promoting the consumption of new energy. [ABSTRACT FROM AUTHOR]