Article
Economics
Jessica Coria, Jurate Jaraite
Summary: This study explores the impact of ownership structure on tradable green certificate (TGC) prices in the Swedish market. The findings reveal that firms with cross-ownership have the ability to differentiate TGC prices, despite the low overall market concentration.
Article
Economics
Arild Heimvik, Eirik S. Amundsen
Summary: This study examines the applicability and results of a Tradable Green Certificate (TGC) scheme in achieving specific greenhouse gas emission reduction targets in the electricity sector using a dynamic model. The research finds that while the TGC scheme can achieve specific dynamic emission targets, it may result in overinvestment in new green generation capacity.
Article
Thermodynamics
Dequn Zhou, Zhuojia Dong, Xiuzhi Sang, Qunwei Wang, Xianyu Yu
Summary: This study examines the impact of China's feed-in tariff reduction and tradable green certificate market policies on provincial green total factor productivity (GTFP). The results show that the feed-in tariff reduction policy has a positive effect on GTFP, while the green certificate trading practices have a negative effect. Additionally, the joint implementation of feed-in tariff reduction and tradable green certificate market policies has a positive effect on GTFP.
Article
Economics
Jiaqian Wu, Yu Chen, Lean Yu, Guohao Li, Jingjing Li
Summary: This paper examines the impact of renewable energy policies on the construction of a new power system in China. Simulation results show that the demand-side renewable portfolio standards (DRPS) policy has positive effects on the costs of market participants, renewable energy consumption, the damage caused by thermal power generation, and long-term incentives for renewable energy industry investment, but lacks incentives for promoting the liquidity of Tradable green certificates (TGC) market. The combined FIT and RPS policy provides a transitional instrument to mitigate large volatility.
Article
Economics
Yu Hu, Yuanying Chi, Hao Zhao, Wenbing Zhou
Summary: The study explores the correlation between the renewable energy market, over-quota consumption, and TGC market based on the characteristics of energy resources in different provinces in China, and finds that increasing RPS requirements, improving inter-provincial transmission capacity and reducing renewable energy costs can enhance policy implementation. In the initial stage, each province should independently develop the TGC market, which can later be expanded into a unified market.
Article
Economics
Ge Wang, Qi Zhang, Bin Su, Bo Shen, Yan Li, Zhengjun Li
Summary: The study shows that establishing coordinated carbon emission quotas and renewable energy markets in China will be more economically efficient, and can achieve the dual goals of reducing carbon emissions and promoting renewable energy pursued by the government. Coordinated markets can reduce market risks, maintain lower price levels, and lower consumers' electricity purchase costs.
Article
Green & Sustainable Science & Technology
Lei Xu, Xin-gang Zhao
Summary: Renewable Portfolio Standards (RPS) and carbon emission trading (CET) system are crucial for China's energy low-carbon transformation. However, the current tradable green certificates market and CET market are still in the early stages with low market activity and transaction frequency. This study aims to explore the synergistic effect between RPS and CET, revealing the influence mechanism and potential benefits. The results demonstrate the positive synergistic effect between RPS and CET and suggest that their simultaneous implementation can stimulate market vitality, promote renewable energy industry development, and optimize power source structure.
Article
Thermodynamics
Lijun Zeng, Jiafeng Wang, Laijun Zhao
Summary: This study develops an inter-provincial tradable green certificate (TGC) futures trading model that combines TGC futures with inter-provincial TGC trading, which provides an efficient and cost-effective mechanism to achieve the Chinese renewable portfolio standard (RPS) targets. The model significantly reduces the RPS target realization cost and increases renewable energy generation. Policy suggestions for the effective design of the TGC futures market and successful implementation of the RPS policy are proposed.
Article
Thermodynamics
Xin-gang Zhao, Lei Xu, Ying Zhou
Summary: Renewable Portfolio Standards (RPS) as a strategic requirement that fits China's top-level institution design for low-carbon energy transition, will help promote China's energy structure optimization and power market reform. The successful implementation of RPS depends on the scientific quasi-parameters design of the system.
Article
Engineering, Environmental
Tian-tian Feng, Rong Li, Hui-min Zhang, Xiao-lei Gong, Yi-sheng Yang
Summary: China has set emission reduction targets for 2030 and 2060, and implemented CET and TGC to achieve these goals. Through simulation and policy synergy modeling, it was found that TGC and CET systems can optimize power supply structure and slow down the growth rate of CO2 emissions.
RESOURCES CONSERVATION AND RECYCLING
(2021)
Article
Green & Sustainable Science & Technology
Xin Chang, Zhaoyuan Wu, Jingting Wang, Xingyu Zhang, Ming Zhou, Tao Yu, Yuyang Wang
Summary: China is promoting the construction of national electricity market and carbon market to accelerate the low-carbon transition in the energy sector. The coupling effect of carbon emission trading and tradable green certificates under electricity marketization in China is examined. Simulation results show that coordination of the two can alleviate the pressure of fiscal deficit and promote low-carbon transition.
RENEWABLE & SUSTAINABLE ENERGY REVIEWS
(2023)
Article
Environmental Sciences
Aviel Verbruggen, Erik Laes
Summary: The Tradable Green-power Certificates (TGC) systems and Greenhouse Emission-permits Trading Systems (ETS) emerged in Europe in 1999-2001, both with flaws such as certificate allocation bypassing market mechanisms. The European Commission did not fully utilize the lessons from the trials and failures of the TGC market.
ENVIRONMENTAL SCIENCE & POLICY
(2021)
Article
Economics
Umit Calikoglu, Merih Aydinalp Koksal
Summary: This study aims to analyze the demand and market value for green electricity and energy attribute certificates in Turkey. The results indicate that corporate companies are more inclined to choose green electricity and are willing to pay a higher price for it. The study also shows that certified green electricity supply can provide renewable energy investors with long-term stable additional income.
Article
Economics
Kajsa Ganhammar
Summary: The study shows that regulatory interventions in the certificate market exacerbate price volatility and do not stabilize prices after market integration with Norway. Additionally, price risk increases the threshold for immediate development of Swedish wind power projects, reducing the probability of project development.
Article
Green & Sustainable Science & Technology
Xianyu Yu, Zhuojia Dong, Dequn Zhou, Xiuzhi Sang, Ching-Ter Chang, Xinhuan Huang
Summary: The power industry in China is a major contributor to carbon emissions and also a key player in both the tradable green certificate market and the carbon emissions trading market. The implementation of tradable green certificate and carbon emissions trading mechanisms has positive impacts on controlling carbon emissions, promoting national emission reduction targets, optimizing the power structure, increasing renewable energy investments, and achieving sustainable development goals at the national level.
JOURNAL OF CLEANER PRODUCTION
(2021)
Article
Multidisciplinary Sciences
Cleon Tsimbos, Georgia Verropoulou, Dimitra Petropoulou
Summary: This study assesses the impact of the recent European recession on stillbirth indices in four Southern European countries. It found that economic indicators have a significant influence on stillbirth rates, with a healthy economy associated with lower levels of stillbirth.
Article
Economics
Ourania Karakosta
ENVIRONMENTAL & RESOURCE ECONOMICS
(2018)
Article
Economics
Ourania Karakosta, Nikos Tsakiris
JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT
(2014)
Article
Economics
Ourania Karakosta, Christos Kotsogiannis, Miguel-Angel Lopez-Garcia
INTERNATIONAL TAX AND PUBLIC FINANCE
(2014)
Article
Economics
Mirabelle Muuls, Dimitra Petropoulou
CANADIAN JOURNAL OF ECONOMICS-REVUE CANADIENNE D ECONOMIQUE
(2013)
Article
Economics
Dimitra Petropoulou
OXFORD ECONOMIC PAPERS-NEW SERIES
(2013)
Article
Economics
Ourania Karakosta
Article
Economics
Xiaochen Ma, Yanchun Pan, Manzi Zhang, Jianhua Ma, Wen Yang
Summary: This paper examines the impact of combined CET-FIP and CET-RPS policies on the development of renewable energy industry in China. The results indicate that both policies effectively reduce carbon emissions, with CET-RPS policy performing better in the long run for emissions reduction, and CET-FIP policy yielding stronger economic benefits. The impact of these policies varies at different stages of renewable energy development on electricity generation, company profits, and social welfare.
Article
Economics
Mathilde Lebrand, Garima Vasishtha, Hakan Yilmazkuday
Summary: This paper investigates the effects of real energy price shocks on current account balances of emerging market and developing economies. The results suggest that oil price shocks have the most significant impact on the current account balances, and the effects of oil demand shocks are different from those of oil supply shocks. The findings are robust to country-specific factors.
Article
Economics
Tianwei Tang, Xiaojing Jiang, Kaiwen Zhu, Ziyao Ying, Wenyu Liu
Summary: This study investigates the impact of officials' promotion pressure on green and low-carbon transition and its mechanisms. The findings suggest that promotion pressure significantly inhibits the transition, particularly before implementing the environmental inspection system. The study also explores the influence mechanism, showing that promotion pressure leads to a dependence on resource factors, industrial structure, and investment, which restricts the regional green low-carbon transformation.
Article
Economics
Junjie Zhang, Shiwei Yu, Xingyi Xiong, Xing Hu
Summary: People's time use is crucial for carbon emissions. The adoption of ICT affects time-use patterns and emissions. The study finds that increasing nonworking time reduces emissions by substituting consumption with time, while increasing the proportion of family members using mobile phones or surfing the internet increases emissions by increasing electricity and communication consumption.
Article
Economics
Lei Zhu, Jie Shen, Aruna Yeerken
Summary: The development of new energy industries is crucial for a nation's energy transition. Photovoltaic, wind power, lithium battery, and new energy vehicles industries have been active in the capital markets. Through investigating mergers and acquisitions (M&A) activities in these industries in China, we found that they affect firms' short-term market performance and long-term innovation.
Article
Economics
Qin Luo, Feng Ma, Jiqian Wang, You Wu
Summary: Academic research uses exogenous drivers to improve the accuracy of oil volatility forecasting. Dimension reduction regressions, particularly principal component analysis regression, successfully predict oil volatility at the one-month horizon. Shrinkage methods outperform other methods for medium and long-term forecast horizons. Unsupervised learning (PCA) performs better during periods of oil price decrease, while supervised learning methods (shrinkage methods) significantly improve volatility accuracy. The empirical results also identify several economic indicators that have a significant impact on oil volatility.