The design of renewable support schemes and CO2 emissions in China

作者:Wu, J (Wu, Jie)^{[ 1 ]} ; Albrecht, J (Albrecht, Johan)^{[ 2 ]} ; Fan, Y (Fan, Ying)^{[ 3 ]} ; Xia, Y (Xia, Yan)^{[ 4 ]} 

The renewable energy targets put forward by the Chinese government need comprehensive incentive schemes. This paper uses a multi-regional CGE model to evaluate two types of renewable support schemes; a subsidy scheme like a feed-in tariff (FIT) with a direct price impact for final consumers and a subsidy scheme without any price impact. We assess the CO2 consequences of both approaches, as well as their impact on economic activity in terms of GDP, industrial structure, electricity generation structure, and regional final demand elasticities of electricity. We find that a support scheme with price impact is much more effective in reducing CO2 emissions while the difference in GDP between the two policies is small. We estimate that the price implications of the support scheme allow for an additional emissions reduction of 113 Mt CO2-or 0.07% of total emissions-in China during 2020-2035. The support scheme with a price impact does not lead to a negative impact on the Chinese economy although there are significant differences among regions. In addition, while the whole country faces an approximately unitary electricity elasticity demand, we find significant differences in electricity demand elasticities among Chinese regions. (C) 2016 Elsevier Ltd. All rights reserved.

作者关键词:Renewable energy; Feed-in tariff; Price impact; CO2 emissions 

KeyWords Plus:FEED-IN TARIFF; WIND POWER; ELECTRICITY; SUBSIDIES; SYSTEM; COST 

通讯作者地址: Fan, Y (通讯作者)

Beihang Univ, Sch Econ & Management, Beijing 100191, Peoples R China.

地址:

	[ 1 ] Shanghai Univ Finance & Econ, Sch Stat & Management, Shanghai 200433, Peoples R China
	[ 2 ] Univ Ghent, Fac Econ & Business Adm, B-9000 Ghent, Belgium
	[ 3 ] Beihang Univ, Sch Econ & Management, Beijing 100191, Peoples R China
	[ 4 ] Chinese Acad Sci, Inst Policy & Management, Ctr Energy & Environm Policy Res, Beijing 100190, Peoples R China

电子邮件地址:yfan1123@buaa.edu.cn