On October 29, 2011, a number of cities and provinces in China were chosen to host pilot locations for carbon emissions trading systems. Before a carbon trading market can be functional, carbon emission allowances nee...On October 29, 2011, a number of cities and provinces in China were chosen to host pilot locations for carbon emissions trading systems. Before a carbon trading market can be functional, carbon emission allowances need to be allocated. This makes the carbon emissions allowance allocation scheme crucially important as it goes a long way in deciding the effi ciency and fairness of the carbon cap-andtrade market. Although it has been proved that allocation by auction is the most effective way, Shenzhen city as one of the trading pilots will allocate carbon allowances free of charge at the initial stage. The European Union's(EU) free allocation system, a product-based benchmark scheme for the manufacturing industry implement in 2013, is not feasible for Shenzhen due to the lack of data at a product level. Therefore the target of this paper is to explore a new allocation scheme with the data at a fi rm level other than the grandfathering scheme to fi ll the gap. In this paper, a carbon intensity based allocation scheme is developed by using the Boltzmann distribution and Gail- Shapley game. In the fi nal part of the report, fi rm level data from 2010 to 2011 of fi rms in Shenzhen, China are used to verify the effect and fi tness of the allocation scheme.展开更多
As the largest source of carbon emissions in China,the thermal power industry is the only emission-controlled industry in the first national carbon market compliance cycle.Its conversion to clean-energy generation tec...As the largest source of carbon emissions in China,the thermal power industry is the only emission-controlled industry in the first national carbon market compliance cycle.Its conversion to clean-energy generation technologies is also an important means of reducing CO_(2)emissions and achieving the carbon peak and carbon neutral commitments.This study used fractional Brownian motion to describe the energy-switching cost and constructed a stochastic optimization model on carbon allowance(CA)trading volume and emission-reduction strategy during compliance period with the Hurst exponent and volatility coefficient in the model estimated.We defined the optimal compliance cost of thermal power enterprises as the form of the unique solution of the Hamilton–Jacobi–Bellman equation by combining the dynamic optimization principle and the fractional It?’s formula.In this manner,we obtained the models for optimal emission reduction and equilibrium CA price.Our numerical analysis revealed that,within a compliance period of 2021–2030,the optimal reductions and desired equilibrium prices of CAs changed concurrently,with an increasing trend annually in different peak-year scenarios.Furthermore,sensitivity analysis revealed that the energy price indirectly affected the equilibrium CA price by influencing the Hurst exponent,the depreciation rate positively impacted the CA price,and increasing the initial CA reduced the optimal reduction and the CA price.Our findings can be used to develop optimal emission-reduction strategies for thermal power enterprises and carbon pricing in the carbon market.展开更多
Evergreen broad-leaved forest is an important forest type in China.This paper analyzes the allocation characteristics of vegetation and soil carbon pool of evergreen broad-leaved forest,to understand the current statu...Evergreen broad-leaved forest is an important forest type in China.This paper analyzes the allocation characteristics of vegetation and soil carbon pool of evergreen broad-leaved forest,to understand the current status of research on the carbon storage of evergreen broadleaved forest as well as shortcomings.In the context of global climate change,it is necessary to carry out the long-term research of evergreen broad-leaved forest,in order to grasp the formation mechanism of evergreen broad-leaved forest productivity,and the impact of climate change on the carbon sequestration function of evergreen broad-leaved forest ecosystem.展开更多
Nowadays our earth is faced with grim challenge of global climate change. All countries should go into action jointly to mitigate climate change. Carbon emission permit allocation and trading are two important issues ...Nowadays our earth is faced with grim challenge of global climate change. All countries should go into action jointly to mitigate climate change. Carbon emission permit allocation and trading are two important issues to realize global cooperation. In this paper two kinds of comprehensive carbon emission permit allocation methods not only considering equity but also efficiency were advanced. After the carbon permit price was determined, the trading situations in various regions or countries in the world and the global benefits gained from emission trading were expounded. Moreover, the impact of carbon emission permit trading on Chinas economy was analyzed.展开更多
This paper analyzes the three main fundamental issues in the design of China's ETS pilots,including allowance allocation,price mechanism and state-owned key enterprises,and proposed suggested solutions.For the iss...This paper analyzes the three main fundamental issues in the design of China's ETS pilots,including allowance allocation,price mechanism and state-owned key enterprises,and proposed suggested solutions.For the issue of allowance allocation,we suggest that the gradual hybrid mode could be applied at the beginning,which starts with mainly free allocation and then increases auction ratio gradually.And grandfathering is a suitable method of free allocation.For the issue of price mechanism,we suggest a price floating zone with open market operation to reduce the uncertainty of prices.For the issue of state-owned key enterprises,we suggest a good coordination with SASAC,defining the state-owned property right and supervision right when state-owned key enterprises are involved into the carbon market,and the local government can set rules of allocation and transaction to limit their potential market power.展开更多
In this paper, a reinforcement learning （RL）-based Sarsa temporal-difference （TD） algorithm is applied tosearch for a unified bidding and operation strategy for a coal-fired power plant with monoethanolamine（MEA...In this paper, a reinforcement learning （RL）-based Sarsa temporal-difference （TD） algorithm is applied tosearch for a unified bidding and operation strategy for a coal-fired power plant with monoethanolamine（MEA）-based post-combustion carbon capture under different carbon dioxide （CO2） allowance market con-ditions. The objective of the decision maker for the power plant is to maximize the discounted cumulativeprofit during the power plant lifetime. Two constraints are considered for the objective formulation. Firstly,the tradeoff between the energy-intensive carbon capture and the electricity generation should be made un-der presumed fixed fuel consumption. Secondly, the CO2 allowances purchased from the CO2 allowance mar-ket should be approximately equal to the quantity of COs emission from power generation. Three case stud-ies are demonstrated thereafter. In the first case, we show the convergence of the Sarsa TD algorithm andfind a deterministic optimal bidding and operation strategy. In the second case, compared with the inde-pendently designed operation and bidding strategies discussed in most of the relevant literature, the SarsaTD-based unified bidding and operation strategy with time-varying flexible market-oriented CO2 capturelevels is demonstrated to help the power plant decision maker gain a higher discounted cumulative profit.In the third case, a competitor operating another power plant identical to the preceding plant is consideredunder the same CO2 allowance market. The competitor also has carbon capture facilities but applies a differ-ent strategy to earn profits. The discounted cumulative profits of the two power plants are then compared,thus exhibiting the competitiveness of the power plant that is using the unified bidding and operation strat-egy explored by the Sarsa TD algorithm.展开更多
基金fund from the Shenzhen Development and Reform Commission
文摘On October 29, 2011, a number of cities and provinces in China were chosen to host pilot locations for carbon emissions trading systems. Before a carbon trading market can be functional, carbon emission allowances need to be allocated. This makes the carbon emissions allowance allocation scheme crucially important as it goes a long way in deciding the effi ciency and fairness of the carbon cap-andtrade market. Although it has been proved that allocation by auction is the most effective way, Shenzhen city as one of the trading pilots will allocate carbon allowances free of charge at the initial stage. The European Union's(EU) free allocation system, a product-based benchmark scheme for the manufacturing industry implement in 2013, is not feasible for Shenzhen due to the lack of data at a product level. Therefore the target of this paper is to explore a new allocation scheme with the data at a fi rm level other than the grandfathering scheme to fi ll the gap. In this paper, a carbon intensity based allocation scheme is developed by using the Boltzmann distribution and Gail- Shapley game. In the fi nal part of the report, fi rm level data from 2010 to 2011 of fi rms in Shenzhen, China are used to verify the effect and fi tness of the allocation scheme.
基金like to thank Major Program of National Philosophy and Social Science Foundation of China(Grant No.21ZDA086)National Natural Science Foundation of China(Grant No.71974188),and Jiangsu Soft Science Fund(Grant No.BR2022007).
文摘As the largest source of carbon emissions in China,the thermal power industry is the only emission-controlled industry in the first national carbon market compliance cycle.Its conversion to clean-energy generation technologies is also an important means of reducing CO_(2)emissions and achieving the carbon peak and carbon neutral commitments.This study used fractional Brownian motion to describe the energy-switching cost and constructed a stochastic optimization model on carbon allowance(CA)trading volume and emission-reduction strategy during compliance period with the Hurst exponent and volatility coefficient in the model estimated.We defined the optimal compliance cost of thermal power enterprises as the form of the unique solution of the Hamilton–Jacobi–Bellman equation by combining the dynamic optimization principle and the fractional It?’s formula.In this manner,we obtained the models for optimal emission reduction and equilibrium CA price.Our numerical analysis revealed that,within a compliance period of 2021–2030,the optimal reductions and desired equilibrium prices of CAs changed concurrently,with an increasing trend annually in different peak-year scenarios.Furthermore,sensitivity analysis revealed that the energy price indirectly affected the equilibrium CA price by influencing the Hurst exponent,the depreciation rate positively impacted the CA price,and increasing the initial CA reduced the optimal reduction and the CA price.Our findings can be used to develop optimal emission-reduction strategies for thermal power enterprises and carbon pricing in the carbon market.
基金Supported by International Science&Technology Cooperation Program of China(2012DFB30030)Science and Technology Plan Project of Hunan Forestry(XLK201417)+1 种基金Youth Science and Technology Innovation Fund of Hunan Academy of Forestry(2013LQJ08,2013LQJ11)Science and Technology Plan Project of Hunan Provincial Department of Science and Technology(2012WK4010)
文摘Evergreen broad-leaved forest is an important forest type in China.This paper analyzes the allocation characteristics of vegetation and soil carbon pool of evergreen broad-leaved forest,to understand the current status of research on the carbon storage of evergreen broadleaved forest as well as shortcomings.In the context of global climate change,it is necessary to carry out the long-term research of evergreen broad-leaved forest,in order to grasp the formation mechanism of evergreen broad-leaved forest productivity,and the impact of climate change on the carbon sequestration function of evergreen broad-leaved forest ecosystem.
文摘Nowadays our earth is faced with grim challenge of global climate change. All countries should go into action jointly to mitigate climate change. Carbon emission permit allocation and trading are two important issues to realize global cooperation. In this paper two kinds of comprehensive carbon emission permit allocation methods not only considering equity but also efficiency were advanced. After the carbon permit price was determined, the trading situations in various regions or countries in the world and the global benefits gained from emission trading were expounded. Moreover, the impact of carbon emission permit trading on Chinas economy was analyzed.
基金supported by Asian CORE program"Manufacturing and Environmental Management in East Asia" of the Japan Society for the Promotion of Science(JSPS)supported by the 2010 Key Project of Philosophy and Social Sciences Research,Ministry of Education:"Research on China's Emissions Trading System under Low-carbon Economy Transformation"(Grant No.10JZD0018)+1 种基金the New Century Excellent Talents Support Plan,Ministry of Education(Grant No.NCET-10-0646)the Key Project of the National Social Science Foundation of China(Grant No.12&ZD059)
文摘This paper analyzes the three main fundamental issues in the design of China's ETS pilots,including allowance allocation,price mechanism and state-owned key enterprises,and proposed suggested solutions.For the issue of allowance allocation,we suggest that the gradual hybrid mode could be applied at the beginning,which starts with mainly free allocation and then increases auction ratio gradually.And grandfathering is a suitable method of free allocation.For the issue of price mechanism,we suggest a price floating zone with open market operation to reduce the uncertainty of prices.For the issue of state-owned key enterprises,we suggest a good coordination with SASAC,defining the state-owned property right and supervision right when state-owned key enterprises are involved into the carbon market,and the local government can set rules of allocation and transaction to limit their potential market power.
文摘In this paper, a reinforcement learning （RL）-based Sarsa temporal-difference （TD） algorithm is applied tosearch for a unified bidding and operation strategy for a coal-fired power plant with monoethanolamine（MEA）-based post-combustion carbon capture under different carbon dioxide （CO2） allowance market con-ditions. The objective of the decision maker for the power plant is to maximize the discounted cumulativeprofit during the power plant lifetime. Two constraints are considered for the objective formulation. Firstly,the tradeoff between the energy-intensive carbon capture and the electricity generation should be made un-der presumed fixed fuel consumption. Secondly, the CO2 allowances purchased from the CO2 allowance mar-ket should be approximately equal to the quantity of COs emission from power generation. Three case stud-ies are demonstrated thereafter. In the first case, we show the convergence of the Sarsa TD algorithm andfind a deterministic optimal bidding and operation strategy. In the second case, compared with the inde-pendently designed operation and bidding strategies discussed in most of the relevant literature, the SarsaTD-based unified bidding and operation strategy with time-varying flexible market-oriented CO2 capturelevels is demonstrated to help the power plant decision maker gain a higher discounted cumulative profit.In the third case, a competitor operating another power plant identical to the preceding plant is consideredunder the same CO2 allowance market. The competitor also has carbon capture facilities but applies a differ-ent strategy to earn profits. The discounted cumulative profits of the two power plants are then compared,thus exhibiting the competitiveness of the power plant that is using the unified bidding and operation strat-egy explored by the Sarsa TD algorithm.
