Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2019.05.041 |
The profitability of onshore wind and solar PV power projects in China - A comparative study | |
Tu, Qiang1; Betz, Regina2; Mo, Jianlei3,4; Fan, Ying5 | |
2019-09-01 | |
发表期刊 | ENERGY POLICY |
ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 132页码:404-417 |
文章类型 | Article |
语种 | 英语 |
国家 | Peoples R China; Switzerland |
英文摘要 | Despite the rapid development of renewable energy power in China, the sector is facing significant challenges in the form of declining feed-in tariffs (FIT) and serious curtailment problems. However, in the long-run the nationwide carbon emission trading system may provide a new economic incentive to invest in renewable energy projects in China. Against this background, we assess the effect of gradually declining FIT on the profitability of renewable energy power projects in China and evaluate the potential of a carbon price to overcome the resulting financial gap. Based on a dataset of 1552 onshore wind and 414 solar PV power projects from 2010 to 2015, we first estimate the levelized cost of electricity (LCOE) for onshore wind and solar PV investments. We then estimate profitability using different carbon prices and varying levels of FIT. Our findings suggest that revenues from selling certified carbon emissions reductions in the carbon market can compensate partially for the revenue losses caused by declining FIT. However, the current carbon prices of China's carbon-emission trading pilot schemes are not sufficiently high to compensate for revenue losses. For 90% of PV projects to remain profitable with lower FIT, the carbon price would need to rise to USD 64/t of CO2. For on-shore wind plants, lower carbon price levels of up to USD 41/t CO2 would be sufficient. |
英文关键词 | Wind power Solar PV power Profitability Levelized cost of electricity (LCOE) Feed-in tariffs (FIT) Carbon pricing China |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000483425800041 |
WOS关键词 | RENEWABLE ENERGY ; LEVELIZED COST ; GRID PARITY ; SYSTEM LCOE ; INVESTMENT ; POLICY ; GENERATION ; ELECTRICITY ; CURTAILMENT ; INNOVATION |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/186519 |
专题 | 气候变化 |
作者单位 | 1.Tianjin Univ Finance & Econ, Sch Finance, Tianjin 300222, Peoples R China; 2.Zurich Univ Appl Sci, Ctr Energy & Environm, Sch Management & Law, CH-8400 Winterthur, Switzerland; 3.Chinese Acad Sci, Ctr Energy & Environm Policy Res, Inst Sci, Beijing 100190, Peoples R China; 4.Chinese Acad Sci, Ctr Energy & Environm Policy Res, Inst Dev, Beijing 100190, Peoples R China; 5.Beihang Univ, Sch Econ & Managemen4, Beijing 100191, Peoples R China |
推荐引用方式 GB/T 7714 | Tu, Qiang,Betz, Regina,Mo, Jianlei,et al. The profitability of onshore wind and solar PV power projects in China - A comparative study[J]. ENERGY POLICY,2019,132:404-417. |
APA | Tu, Qiang,Betz, Regina,Mo, Jianlei,&Fan, Ying.(2019).The profitability of onshore wind and solar PV power projects in China - A comparative study.ENERGY POLICY,132,404-417. |
MLA | Tu, Qiang,et al."The profitability of onshore wind and solar PV power projects in China - A comparative study".ENERGY POLICY 132(2019):404-417. |
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