On the impact of FIT policies on renewable energy investment: Based on the solar power support policies in China's power market |
| |
| Affiliation: | 1. Key Laboratory of Solar Thermal Energy and Photovoltaic System, Institute of Electrical Engineering, Chinese Academy of Sciences, Zhongguancun, Haidian, Beijing, 100190, China;2. China Electric Power Research Institute, Nanjing, 210003, Jiangsu, China;3. University of Chinese Academy of Sciences, Beijing, 100049, China;1. Centre for Energy Sciences, Department of Mechanical Engineering, Faculty of Engineering, 50603 Kuala Lumpur University of Malaya, Malaysia;2. Mechanical Engineering Department, Collage of Engineering, King Saud University, 11421 Riyadh, Saudi Arabia;3. Dept. of Mechanical Engineering, Dhaka University of Engineering and Technology, Gazipur, 1700, Bangladesh;1. School of Mechanical and Energy Engineering, Tongji University, China;2. Green Energy and Environment Research Laboratories, Industrial Technology Research Institute, Taiwan;3. Key Laboratory of Gas Hydrate, Guangzhou Institute of Energy Conversion, China Academy of Sciences, China;1. South China University of Technology, Wushan Road 381#, Tianhe District, Guangzhou 510640, China;2. Jiangsu University, Jiangsu, Xuefu Road 301#, Jingkou District, Zhenjiang 212013, China;1. Department of Chemical and Biomolecular Engineering, National University of Singapore, 4 Engineering Drive 4, Singapore 117585, Singapore;2. Water Desalination & Reuse (WDR) Center King Abdullah University of Science and Technology, Thuwal 23955-6900, Saudi Arabia |
| |
| Abstract: | In 2013, the feed-in tariff (FIT) policy was issued in China to promote the investment in renewable technology, but then it was revised because this policy brought a heavy financial burden to the government. By considering the intermittence of renewable resources, we model the implemented Chinese FIT policies and analyze their impact on renewable energy investment in the power market. The open-loop model is employed to simulate the China's power market organized with Power Purchase Agreement, and the closed-loop game is used to characterize the spot power market. Meanwhile, the strategic capacity choices of power generators in two games are compared under four different policy schemes: (i) free competition, (ii) FIT via fixed subsidy, (iii) FIT via price premium and (iv) Chinese FIT by cross control (CFCC). The results show that the CFCC policy is a good alternative to well control the investment in renewable technology, as it can be seen as a comprise between free competition and FIT via fixed subsidy policy. Furthermore, compared with the other three policy schemes, the CFCC policy is capable of keeping renewable power generators from deviating the equilibrium, which implies higher robustness in regulating the electricity spot market. |
| |
| Keywords: | The FIT policy Power market Open-loop game Closed-loop game Investment capacity Renewable technology |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
