China's flexibility challenge in achieving carbon neutrality by 2060

Li, Jianglong; Ho, Mun S.; Xie, Chunping; Stern, Nicholas

doi:10.1016/j.rser.2022.112112

Cited by 133 publications

(30 citation statements)

References 53 publications

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“…A comparative analysis by the scholars in [67] show that demand response application (demand side), retrofitting the thermal units (supply-side), ESSs, and establishment of new grid facilities and interconnections are economically and technically sorted from top to bottom, respectively. Relative studies by [68], [69] show that as climate goals are modest, demand side flexibility options provision has a significant influence on system costs, but sector coupling with the district heat sector and investment in grid facilities have a growing impact among other flexibility options, when climate targets are more ambitious. As a result, the sector coupling needs accurately assessing the storage requirements, which leads to more flexibility from ESSs with more system cost charge [70].…”

Section: Cost Of Flexibility Optionsmentioning

confidence: 99%

A Comprehensive Review on Power System Flexibility: Concept, Services, and Products

et al. 2022

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Massive proliferation of Variable Energy Resources (VERs) in modern power systems has posed a variety of challenges to the reliable operation of the power grid and has, at times, jeopardized the system flexibility. Flexibility is the system's ability to respond to and cope with the imbalances between supply and demand while managing the uncertainty and variability of VERs and maintaining the power system's security and reliability within the acceptable margins. Leveraging the system's available resources and capabilities, the system operators must take strategic actions to mitigate the impacts of VERs on the grid flexibility at a reasonable cost. The concept of flexibility is somewhat novel, which calls for profound studies and analyses to address different aspects of flexibility, but not limited to definition and characterization of standard metrics and indices to measure the power grid flexibility, flexibility-centred operation and planning models for the power grid, etc. This paper provides a comprehensive review of the state-of-the-art research on power system flexibility, including existing definitions and quantification measures, flexible resources, and flexibility products and services in electricity markets.

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Section: Cost Of Flexibility Optionsmentioning

confidence: 99%

A Comprehensive Review on Power System Flexibility: Concept, Services, and Products

et al. 2022

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“…While the challenges standing in the pathways to carbon neutrality vary on a country‐by‐country basis, electricity generally plays a central role in the future transition [11, 12]. Figure 1 presents the fuel and regional flows of CO 2 emissions in 2019 [13].…”

Section: Introductionmentioning

confidence: 99%

Insulating materials for realising carbon neutrality: Opportunities, remaining issues and challenges

Yang

et al. 2022

High Voltage

130

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The 2050 carbon‐neutral vision spawns a novel energy structure revolution, and the construction of the future energy structure is based on equipment innovation. Insulating material, as the core of electrical power equipment and electrified transportation asset, faces unprecedented challenges and opportunities. The goal of carbon neutral and the urgent need for innovation in electric power equipment and electrification assets are first discussed. The engineering challenges constrained by the insulation system in future electric power equipment/devices and electrified transportation assets are investigated. Insulating materials, including intelligent insulating material, high thermal conductivity insulating material, high energy storage density insulating material, extreme environment resistant insulating material, and environmental‐friendly insulating material, are categorised with their scientific issues, opportunities and challenges under the goal of carbon neutrality being discussed. In the context of carbon neutrality, not only improves the understanding of the insulation problems from a macro level, that is, electrical power equipment and electrified transportation asset, but also offers opportunities, remaining issues and challenges from the insulating material level. It is hoped that this paper envisions the challenges regarding design and reliability of insulations in electrical equipment and electric vehicles in the context of policies towards carbon neutrality rules. The authors also hope that this paper can be helpful in future development and research of novel insulating materials, which promote the realisation of the carbon‐neutral vision.

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“…Carbon neutrality is an important issue in the literature (Dong et al, 2021; Guo et al, 2022; Li et al, 2022), and most scholars have looked to target it under the consideration of carbon trading (Lv et al, 2021; Wang et al, 2022). Zhang, Guo, et al (2021) considered energy consumption permit trading as an instrument for achieving carbon neutrality and concluded that this national instrument should be linked with an emission trading scheme.…”

Section: Introductionmentioning

confidence: 99%

A green path towards sustainable development: Optimal behavior of the duopoly game model with carbon neutrality instruments

Hussain

Lee

2022

Sustainable Development

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Carbon emission is a global issue, and China is facing many problems to resolve it, especially in emission‐generating companies (EGCs). To maintain sustainable development, it is necessary to reduce carbon emissions for the well‐being of society, and carbon neutrality can play an important role. With China targeting the goal of carbon neutrality to reduce carbon emissions, this research aims to bridge the gap in the literature by considering carbon neutrality instruments in a duopoly market. The study sets up a mathematical model of the duopoly game to achieve desired objectives and then applies a simulation‐based optimization technique to examine the mathematical model under different experiments. After manipulating various scenarios to find the optimal values of carbon neutrality instruments, the results indicate that green bond provision, emission tax, and emission quota play a vital role in carbon neutrality. Different combinations of carbon neutrality instruments reduce various levels of carbon emissions. We further show that a combination of emission tax upon EGCs plays a key role in reducing carbon emissions during the fifth scenario. In the second scenario, a combination of green bond provision and emission tax reduces carbon emissions, but is lower than the fifth scenario. This research offers a reference for policymakers to move towards carbon neutrality, and it is beneficial for the government to decide the optimal values of carbon neutrality instruments.

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China's flexibility challenge in achieving carbon neutrality by 2060

Cited by 133 publications

References 53 publications

A Comprehensive Review on Power System Flexibility: Concept, Services, and Products

A Comprehensive Review on Power System Flexibility: Concept, Services, and Products

Insulating materials for realising carbon neutrality: Opportunities, remaining issues and challenges

A green path towards sustainable development: Optimal behavior of the duopoly game model with carbon neutrality instruments

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