Carbon neutrality and renewable energy development in China

Bibliographic Data

ID12918059
AuthorsFeng Song (0000-0002-4785-2951, Renmin University of China, corresponding author), Ao Sun (0000-0002-8552-7201, Renmin University of China)
Year2023
Volume16
Issue2
Pages121-138
Publication date2023-05-04
Open AccessNo
TypeARTICLE
VenueChina Economic Journal (JOURNAL)
Journal identifiersISSN: 1753-8963 • E-ISSN: 1753-8971
PublisherRoutledge (PUBLISHER • GB)
DOI10.1080/17538963.2023.2245515
OpenAlexW4385895411
LanguageEN
Citations received1
References cited6

Building a new type of power system with wind and solar as the dominant body of sources is expected to play the key role for China to achieve carbon neutrality. Transiting from the fossil fuel dominating power system to a renewable dominating system requires both the technology progress and the institutional changes. The total direct investment cost of China’s power system decarbonization is estimated to be about 67.6 trillion yuan, which consists of new wind and solar power capacity, energy storage facilities, and transmission lines. The electricity storage technology is the key factor to affect the transitional costs. Meanwhile, institutional changes are needed to adapt to the high penetration of wind and solar to cope with the new challenges the renewable brings, namely the flexibility, adequacy and affordability. China’s market-oriented reform should move to the direction of establishing a real unified national market system to achieve the integration of high percentage of renewables

Business · Carbon neutrality · Economics · Electric power system · Electrical engineering · Electricity · Energy storage · Environmental economics · Flexibility (engineering · Fossil fuel · Market penetration · Natural resource economics · Neutrality · Power (physics · Renewable energy · Solar Power · Waste management · Wind power · Electric Power System Optimization · Engineering · Integrated Energy Systems Optimization

Tools

Open DOI