The impact of renewable portfolio standard on retail electricity market: A system dynamics model of tripartite evolutionary game

Zhu, Chaoping; Fan, Ruguo; Lin, Jie

doi:10.1016/j.enpol.2019.111072

Cited by 80 publications

(23 citation statements)

References 31 publications

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“…Respectively, the imported part of accommodation typed as remained unchanged. Therefore, the maximum accommodation amount of VRE which was assigned from coalfired power units could be calculated by integrating both sides, typed as Equation (12).…”

Section: Calculation Of Completion Potentialmentioning

confidence: 99%

“…After the announcement of this new RPS scheme, several alternative effect evaluations were developed. In particular, the inevitable effect of RPS on retail electricity market was studied [12]. One creative study analyzed the feasibility of this new RPS from the perspectives of VRE supply and demand, and found that the curtailment of renewables reduced by RPS [13].…”

Section: Introductionmentioning

confidence: 99%

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On the Way to Integrate Increasing Shares of Variable Renewables in China: Activating Nearby Accommodation Potential under New Provincial Renewable Portfolio Standard

Zhang

2021

Processes

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More than 1.2 billion kW wind and solar power generation will be integrated in China by 2030. The new provincial renewable portfolio standard, officially implemented in 2020, establishes an efficient bridge between rapid capacity growth and limited accommodation capability. A data-driven prospect analysis framework was proposed to evaluate the activated potential under two kinds of nearby accommodation approaches and to explore the completion prospect of this new obligated quota from provincial levels. Empirical results illustrate diverse prospects across regions. Particularly, it is hard for two kinds of provinces to complete their obligated quotas merely via the single nearby accommodation approach: The first one is close to renewable energy resources but lacks flexible peak regulation capability in Northeast and Northwest China, and the other is close to the nationwide load center but lacks nearby integration from renewables in Southeast, North, and Middle China. Therefore, the pathway for the former is to activate more provincial accommodation potential either via releasing system flexibility or by substituting generation right, and the pathway for the latter is to introduce trans-regional or trans-provincial accommodation and import more renewable energy power.

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Section: Calculation Of Completion Potentialmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

On the Way to Integrate Increasing Shares of Variable Renewables in China: Activating Nearby Accommodation Potential under New Provincial Renewable Portfolio Standard

Zhang

2021

Processes

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“…Cheng and Yu [17] studied the asymptotic stability analysis of the multigroup asymmetric evolutionary game based on Nash equilibrium under typical scenarios of the power market. Zhu et al [18] studied the impact of China's renewable energy quota system policy on electricity retailers based on the tripartite evolutionary game and verified the validity of the model using system dynamics. Zhao et al [19] used the evolutionary game model to analyze the strategies of different types of power generators in the power spot market and analyzed the impact of changes in the daily load demand curve on the revenue of power generators through simulation.…”

Section: Literature Reviewmentioning

confidence: 99%

Study on the Compliance Management of the Electricity Market in China Based on the Evolutionary Game Theory

Jin¹,

Chang²,

Wang³

et al. 2021

Complexity

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China’s new round of power system reform has further released market vitality, making the power market more open and diversified. Meanwhile, China’s power market faces various risks and challenges incurred by this new reform, which further highlights the importance of the compliance management. However, the study on effective compliance management of China’s power market is missing, and the way to achieving effective compliance management is still unanswered. This paper tries to fill the research gap using the evolutionary game theory. We constructed a tripartite game model to analyze the strategic choices and influencing factors of power generators, compliance departments of the trading centre, and government regulatory agencies. Furthermore, simulation analysis was conducted based on evolutionary stable strategies. The results show that effective compliance management can be achieved without government supervision if the market mechanism is properly designed. In addition, the costs and profits of market participants and regulators are important factors influencing the effectiveness of compliance management. Our findings may arouse inspiration for the policy makers to construct an effective compliance management system.

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“…About 40% of global greenhouse gas emissions come from coal consumption [2]. Many countries and regions have called for a suspension of coal mining [3] and sought new ways of clean production, such as increasing the proportion of renewable energy and clean energy in power generation [4,5]. However, with relatively high cost of promoting and utilizing renewable energy and the low feasibility in the short term [6], the emission reduction targets for complete decarbonization of the power sectors in many countries remain unachievable.…”

Section: Introductionmentioning

confidence: 99%

Evolutionary Game Research on the Impact of Environmental Regulation on Overcapacity in Coal Industry

Fan

Tingting

et al. 2021

Mathematical Problems in Engineering

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Currently, the world is facing two significant challenges: low-carbon development and overcapacity. Government departments must reexamine their development strategy of energy industry. Implementing environmental regulatory policies and technological innovation can help alleviate coal industry’s overcapacity, while sustainable development requires joint actions of governments, enterprises, and the market. Based on the evolutionary game theory, this study constructs a tripartite evolutionary game model of local government, power industry, and coal enterprise. Under the premise of bounded rationality, the evolution path of each player in the game under the market incentive environmental regulation is analyzed, and the influence of the change of parameters of each player on the result is numerically simulated. The study found that strengthening environmental regulation by local governments is an inevitable choice to promote the transformation and upgrading of coal industry and power industry. In addition, reducing law enforcement costs and technological innovation costs are the fundamental point of the coordinated development of the three parties. Technological innovation in the power industry will reduce the probability of coal companies’ choosing clean production strategies, while seeking low-cost clean production technology and financial support is the key to coal companies’ optimization of production capacity.

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The impact of renewable portfolio standard on retail electricity market: A system dynamics model of tripartite evolutionary game

Cited by 80 publications

References 31 publications

On the Way to Integrate Increasing Shares of Variable Renewables in China: Activating Nearby Accommodation Potential under New Provincial Renewable Portfolio Standard

On the Way to Integrate Increasing Shares of Variable Renewables in China: Activating Nearby Accommodation Potential under New Provincial Renewable Portfolio Standard

Study on the Compliance Management of the Electricity Market in China Based on the Evolutionary Game Theory

Evolutionary Game Research on the Impact of Environmental Regulation on Overcapacity in Coal Industry

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