Greenhouse gas emission regulation and\r\nrenewable energy promotion policies have been implemented\r\nin many countries. Yet these two kinds of regulation\r\npolicies have complex interactions between each\r\nother, and can either enhance or reduce the overall emission\r\nreduction efficiency. If not well tuned, these regulation\r\npolicies may deviate from their original intention and lead\r\nto unnecessary social cost. Hence, the policy effectiveness,\r\ncost effectiveness, and dynamic efficiency of different\r\npolicy mixtures between emission trading and renewable\r\nenergy subsidy are studied based on a novel dynamic\r\nsimulation platform of power economy and power system.\r\nSimulation results show that these two kinds of regulation\r\npolicy can coexist, but a good coordination between the\r\nemission trading and the renewable energy subsidy can\r\nachieve better emission reduction outcomes
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