Yu, Zhongjue, Geng, Yong, Calzadilla, Alvaro and Bleischwitz, Raimund ORCID: https://orcid.org/0000-0001-8164-733X (2022) China's unconventional carbon emissions trading market: The impact of a rate-based cap in the power generation sector. Energy, 255 . p. 124581. DOI https://doi.org/10.1016/j.energy.2022.124581.

Text Bleischwitz2022-4.pdf - Published Version Restricted to Registered users only Download (2MB)

Abstract

China has launched a national level carbon emissions trading market with a rate-based cap and benchmarks in the power generation sector. This emissions trading system (ETS) differs from a mass-based one, which lacks an absolute carbon cap. This study assesses the impact of such an unconventional ETS on economic development, carbon emission mitigation, and power system transition by applying a multi-regional dynamic computable general equilibrium model. The results show that ETS can facilitate the decarbonisation of the power sector and reduce carbon intensities of coal and gas power, the two technologies covered at the first stage of China's ETS. Furthermore, power generation of these technologies will be decreased significantly, and a noticeable fallback of electrification will occur. National GDP loss under a rate-based cap is slightly higher than the one under a mass-based cap, while provincial GDP losses have close relations with coal phaseout and permit scarcity.

Document Type:	Article
Programme Area:	PA2, PA5
Research affiliation:	Science Management > Directorate
Refereed:	Yes
Open Access Journal?:	No
DOI:	https://doi.org/10.1016/j.energy.2022.124581
ISSN:	03605442
Date Deposited:	04 Jul 2022 12:12
Last Modified:	15 May 2023 15:01
URI:	http://cris.leibniz-zmt.de/id/eprint/4988

Actions (login required)

View Item