| Issue |
E3S Web Conf.
Volume 573, 2024
2024 International Conference on Sustainable Development and Energy Resources (SDER 2024)
|
|
|---|---|---|
| Article Number | 02020 | |
| Number of page(s) | 5 | |
| Section | Oil and Gas Resources Development and Energy Technology Innovation | |
| DOI | https://doi.org/10.1051/e3sconf/202457302020 | |
| Published online | 30 September 2024 | |
Evaluating Efficiency and Fairness of Renewable Portfolio Standard in China
1 State Grid Hebei Electric Power Company No. 32, Fuqiang Street, Yuhua District, Shijiazhuang, Hebei, China
2 Electric Power Research Institute of State Grid Hebei Electric Power Company No. 238, South Tiyu Street, Yuhua District, Shijiazhuang, Hebei, China
3 State Grid Hebei Electric Power Company No. 32, Fuqiang Street, Yuhua District, Shijiazhuang, Hebei, China
4 Tsinghua University No. 30, Shuangqing Road, Haidian District, Beijing, 325, China
5 State Grid Hebei Electric Power Company No. 32, Fuqiang Street, Yuhua District, Shijiazhuang, Hebei, China
6 Tsinghua University No. 30, Shuangqing Road, Haidian District, Beijing, 325, China
* Corresponding author: wangxinh21@mails.tsinghua.edu.cn
This study evaluates the efficiency and fairness of China's Renewable Portfolio Standard (RPS) using a bi-level numerical model. The model comprises a regulatory level that sets the required share of renewables and a market level where electricity producers and consumers respond to these policies. In a perfectly competitive market, carbon pricing is identified as the most efficient policy to promote the development of renewable energy, while the RPS closely approximates an optimal policy tool. By mandating a certain percentage of renewable energy generation, the RPS significantly promotes renewable energy development and substantially reduces emissions. Additionally, RPS improves welfare levels in the central regions, addressing regional welfare disparities. RPS is deemed appropriate, especially considering that China's carbon pricing mechanisms are not yet fully supportive of renewable energy development.
© The Authors, published by EDP Sciences, 2024
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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