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1.
PLoS One ; 19(7): e0305419, 2024.
Article in English | MEDLINE | ID: mdl-38950014

ABSTRACT

Studying and analyzing energy consumption and structural changes in Pakistan's major economic sectors is crucial for developing targeted strategies to improve energy efficiency, support sustainable economic growth, and enhance energy security. The logarithmic mean Divisia index (LMDI) method is applied to find the factors' effects that change sector-wise energy consumption from 1990 to 2019. The results show that: (1) the change in mixed energy and sectorial income shows a negative influence, while energy intensity (EI) and population have an increasing trend over the study period. (2) The EI effects of the industrial, agriculture and transport sectors are continuously rising, which is lowering the income potential of each sector. (3) The cumulative values for the industrial, agricultural, and transport sectors increased by 57.3, 5.3, and 79.7 during 2019. Finally, predicted outcomes show that until 2035, the industrial, agriculture, and transport incomes would change by -0.97%, 13%, and 65% if the energy situation remained the same. Moreover, this sector effect is the most crucial contributor to increasing or decreasing energy consumption, and the EI effect plays the dominant role in boosting economic output. Renewable energy technologies and indigenous energy sources can be used to conserve energy and sectorial productivity.


Subject(s)
Agriculture , Pakistan , Agriculture/economics , Economic Development , Humans , Energy-Generating Resources/economics , Renewable Energy/economics , Industry/economics , Income
2.
PLoS One ; 19(7): e0304343, 2024.
Article in English | MEDLINE | ID: mdl-38959239

ABSTRACT

Recently, globe has tried to transform populace activities to digital platform, wherefrom all stakeholders can attain their basic information. However, education sector cannot be excluded from this debate. Since, the pandemic mostly most economies have utilized digital transformation in different aspects of life, but digital education becomes more prominent. Therefore, this empirical research focuses on digital writing specifically to English education in G-7 economies between the time frame spanning from January 2000 to April 2022. This study considers urbanization, income, renewable energy, information & communication technology, renewable energy, English education, and pandemic as the key environmental determinants. To address the challenges posed by panel data, this study utilized an advanced set of estimators such as AMG stands for Augmented Mean Group. The estimate of urbanization and income per capita is positively significant, confirming that urbanization and economic development cannot protect the green economy by minimizing environmental pollution. Likewise, the estimated coefficient of English Education and internet use is negative and significant, implying that English Education and ICT can protect the green economy by reducing emissions. Conversely, renewable energy consumption (REC) is an element that can increase economic activity and therefore decline the environmental damages to secure a green economy. Likewise, the growth in cases of Covid-19 also reduces the usage of resources like land, water, and forests and subsequently decreases carbon emissions, promoting the green economy. The results also indicate that interaction term of English Education and ICT have adverse impact on Carbon emission (CO2). The outcomes suggest that internet usage (ICT) in English Education (EE) can deal efficiently with environmental issues for the green economy; therefore, EE and ICT should be part of green policies across the international level.


Subject(s)
COVID-19 , Humans , COVID-19/epidemiology , Urbanization , Pandemics , Writing , Literacy , Economic Development , SARS-CoV-2 , Renewable Energy
3.
PLoS One ; 19(7): e0305329, 2024.
Article in English | MEDLINE | ID: mdl-38985844

ABSTRACT

The unit commitment (UC) optimization issue is a vital issue in the operation and management of power systems. In recent years, the significant inroads of renewable energy (RE) resources, especially wind power and solar energy generation systems, into power systems have led to a huge increment in levels of uncertainty in power systems. Consequently, solution the UC is being more complicated. In this work, the UC problem solution is addressed using the Artificial Gorilla Troops Optimizer (GTO) for three cases including solving the UC at deterministic state, solving the UC under uncertainties of system and sources with and without RE sources. The uncertainty modelling of the load and RE sources (wind power and solar energy) are made through representing each uncertain variable with a suitable probability density function (PDF) and then the Monte Carlo Simulation (MCS) method is employed to generate a large number of scenarios then a scenario reduction technique known as backward reduction algorithm (BRA) is applied to establish a meaningful overall interpretation of the results. The results show that the overall cost per day is reduced from 0.2181% to 3.7528% at the deterministic state. In addition to that the overall cost reduction per day is 19.23% with integration of the RE resources. According to the results analysis, the main findings from this work are that the GTO is a powerful optimizer in addressing the deterministic UC problem with better cost and faster convergence curve and that RE resources help greatly in running cost saving. Also uncertainty consideration makes the system more reliable and realistic.


Subject(s)
Solar Energy , Wind , Uncertainty , Monte Carlo Method , Algorithms , Renewable Energy , Stochastic Processes , Models, Theoretical
4.
J Law Med Ethics ; 52(S1): 53-56, 2024.
Article in English | MEDLINE | ID: mdl-38995253

ABSTRACT

Reliance upon fossil fuels and limited greenspace contribute to poor indoor and outdoor air quality and adverse health outcomes, particularly in communities of color. This article describes justice-informed public health and legal interventions to increase access to greenspace and accelerate the transitions to renewable energy and away from gas appliances.


Subject(s)
Air Pollution , Climate Change , Fossil Fuels , Public Health , Humans , Public Health/legislation & jurisprudence , Air Pollution/legislation & jurisprudence , Air Pollution/prevention & control , United States , Renewable Energy
5.
J Environ Manage ; 365: 121639, 2024 Aug.
Article in English | MEDLINE | ID: mdl-38959773

ABSTRACT

Within the literature on energy and environmental economics, it is generally acknowledged that renewable energy can improve environmental quality; however, certain papers suggest that an optimal level of the usage of renewable energy sources may exist. Consequently, the utilization of renewable energy sources can result in environmental degradation up to a certain threshold. Then, environmental quality can be enhanced through the continued application of renewables. This indicates that the link between renewable energy and environmental devastation is inverted U-shaped. This paper presents empirical evidence concerning this possible association between renewable energy and environmental destruction in Türkiye, a country where fossil energy predominates in the energy mix. Additionally, the paper investigates the environmental influences of natural resource rents and schooling. This study utilizes annual data from 1971 to 2020 and implements time series methodologies that rely on the Fourier approximation. The paper thus accounts for an undetermined quantity of structural breaks. The results suggest that an inverted U-shaped link occurs between renewable energy and environmental destruction, signifying renewable energy initially contributes to a diminution in environmental quality before subsequently improving it. Additionally, environmental quality is positively associated with natural resource rents and negatively associated with schooling, according to the findings. Furthermore, the findings reveal that schooling worsens the combined effect of renewable energy on environmental degradation. These conclusions are discussed in the paper.


Subject(s)
Conservation of Natural Resources , Natural Resources , Renewable Energy , Environment
6.
J Environ Manage ; 365: 121664, 2024 Aug.
Article in English | MEDLINE | ID: mdl-38968880

ABSTRACT

Public interest in climate change-related problems has been developing with the contribution of the recent energy crisis. Accordingly, countries have been increasing their efforts to decarbonize economies. In this context, energy transition and energy-related research and development (R&D) investments can be important strategic tools to be helpful to countries in the decarbonization of economies. Among all, Nordic countries have come to the force because of their well-known position as green economies. Hence, this study examines Nordic countries to investigate the impact of energy transition, renewable energy R&D investments (RRD), energy efficiency R&D investments (EEF) on carbon dioxide (CO2) emissions by performing wavelet local multiple correlation (WLMC) model and using data from 2000/1 to 2021/12. The outcomes reveal that (i) based on bi-variate cases, energy transition and RRD have a mixed impact on CO2 emissions in all countries across all frequencies; EEF has a declining impact on CO2 emissions in Norway (Sweden) at low and medium (very high) frequencies; (ii) according to four-variate cases, all variables have a combined increasing impact on CO2 emissions; (iii) RRD is the most influential dominant factor in all countries excluding Norway, where EEF is the pioneering one. Thus, the reach proves the varying impacts of energy transition, RRD, and EEF investments on CO2 emissions. In line with the outcomes of the novel WLMC model, various policy endeavors, such as focusing on displacement between sub-types of R&D investments, are argued to ensure the decarbonization of the economies.


Subject(s)
Carbon Dioxide , Climate Change , Scandinavian and Nordic Countries , Carbon Dioxide/analysis , Investments , Renewable Energy , Models, Theoretical
7.
Annu Rev Chem Biomol Eng ; 15(1): 63-80, 2024 Jul.
Article in English | MEDLINE | ID: mdl-39047722

ABSTRACT

Hydrogen is similar to natural gas in terms of its physical and chemical properties but does not release carbon dioxide when burnt. This makes hydrogen an energy carrier of great importance in climate policy, especially as an enabler of increasing integration of volatile renewable energy, progressive electrification, and effective emission reductions in the hard-to-decarbonize sectors. Leaving aside the problems of transporting hydrogen as a liquid, technological challenges along the entire supply chain can be considered as solved in principle, as shown in the experimental findings of the Hydrogen Innovation Program of the German Technical and Scientific Association for Gas and Water. By scaling up production and end-use capacities and, most importantly, producing hydrogen in regions with abundant renewable energy, hydrogen and its applications can displace natural gas at affordable prices in the medium term. However, this substitution will take place at different rates in different regions and with different levels of added value, all of which must be understood for hydrogen uptake to be successful.


Subject(s)
Hydrogen , Natural Gas , Hydrogen/chemistry , Natural Gas/analysis , Renewable Energy , Carbon Dioxide/chemistry
8.
PLoS One ; 19(7): e0307894, 2024.
Article in English | MEDLINE | ID: mdl-39058731

ABSTRACT

The quest for sustainable energy solutions has intensified interest in marine renewables, particularly wave energy. This study addresses the crucial need for an objective assessment of Wave Energy Converter (WEC) technologies, which are instrumental in harnessing ocean waves for electricity generation. To benchmark WEC technologies, we employed an integrated approach combining the MEthod based on the Removal Effects of Criteria (MEREC) and the Spherical Fuzzy Combine Compromise Solution (SF-CoCoSo). MEREC provided a systematic way to determine the importance of various benchmarking criteria, while SF-CoCoSo facilitated the synthesis of complex decision-making data into a coherent evaluation score for each technology. The results of the study offer a definitive ranking of WEC technologies, with findings emphasizing the importance of grid connectivity and adaptability to various wave conditions as pivotal to the technologies' success. While the study makes significant strides in the evaluation of WECs, it also recognizes limitations, including the potential for evolving market dynamics to influence criteria weightings and the assumption that the MCDM methods capture all decision-making complexities. Future work should expand the evaluative criteria and explore additional MCDM methods to validate and refine the benchmarking process further.


Subject(s)
Benchmarking , Decision Making , Fuzzy Logic , Renewable Energy , Electricity
9.
PLoS One ; 19(7): e0307641, 2024.
Article in English | MEDLINE | ID: mdl-39052597

ABSTRACT

Investments in renewable energy sources are increasing in several countries, especially in wind energy, as a response to global climate change caused by the burning of fossil fuels for electricity generation. Thus, it is important to evaluate the Regional Climate Models that simulate wind speed and wind power density in promising areas for this type of energy generation with the least uncertainty in recent past, which is essential for the implementation of wind farms. Therefore, this research aims to calculate the wind power density from Regional Climate Models in areas at Northeast of Brazil from 1986 to 2005. Initially, the ECMWF-ERA5 reanalysis data was validated against observed data obtained from Xavier. The results were satisfactory, showing a strong correlation in areas of Ceará and Rio Grande do Norte (except during the SON season), and some differences in relation to the wind intensity registered by observed data, particularly during the JJA season. Then, the Regional Climate Models RegCM4.7, RCA4 and Remo2009 were validated against the ECMWF-ERA5 reanalysis data, with all models successfully representing the wind speed pattern, especially from December to May. Four specific areas in Northeast of Brazil were selected for further study. In these areas, the RCMs simulations were evaluated to identify the RCM with the best statistical indices and consequently the lowest associated uncertainty for each area. The selected RCMs were: RegCM4.7_HadGEM2 (northern coastal of Ceará and northern coastal of Rio Grande do Norte) and RCA4_Miroc (Borborema and Central Bahia). Finally, the wind power density was calculated from the selected RCM for each area. The northern regions of Rio Grande do Norte and Ceará exhibited the highest wind power density.


Subject(s)
Wind , Brazil , Climate Models , Renewable Energy , Climate Change , Seasons
10.
Environ Sci Pollut Res Int ; 31(32): 44542-44574, 2024 Jul.
Article in English | MEDLINE | ID: mdl-38954346

ABSTRACT

In a hydrogen economy, the primary energy source for industry, transportation, and power production is hydrogen gas. Green hydrogen can be generated and utilized in an environmentally friendly and sustainable manner; it seeks to displace fossil fuels. Finding a clean alternative energy source is becoming more crucial due to the depletion of fossil fuels and the major environmental pollution issues they bring when utilized extensively. The paper's objective is to analyze the factors affecting the economy of green hydrogen production pathways for sustainable development to decarbonize the world and the associated challenges faced in terms of technological, social, infrastructure, and people's perceptions while adopting green hydrogen. To achieve this, the research looked at a variety of areas relevant to green hydrogen, such as production techniques, industry applications, benefits for society and the environment, and challenges that need to be overcome before the technology is widely used. The most recent methods of producing hydrogen from fossil fuels, such as steam methane, partial oxidation, autothermal, and plasma reforming, as well as renewable energy sources including biomass and thermochemical reactions and water splitting. Grey hydrogen is now the least expensive type of hydrogen, but, in the future, green hydrogen's levelized cost of hydrogen (LCOH) is expected to be less than $2 per kilogram of hydrogen.


Subject(s)
Hydrogen , Sustainable Development , Renewable Energy , Fossil Fuels
11.
Radiat Prot Dosimetry ; 200(11-12): 1189-1196, 2024 Jul 17.
Article in English | MEDLINE | ID: mdl-39016475

ABSTRACT

The energy produced from other sources which does neither come from fossil fuels nor contribute in the production of any greenhouse effects that causes climate changes is called as 'Alternative Energy'. Since our world's primary energy sources such as coal, oil and natural gases are exploited to a greater extent, we are in an urge to switch to an alternative energy. Scattered radiation, a common byproduct in radiation therapy and diagnostic radiology, presents a unique opportunity in the realm of alternative energy. As a potential source of interference, scattered radiation can be repurposed to contribute to sustainable energy solutions. Addressing the issue of scattered radiation wastage and utilizing it for alternative energy, an activated carbon-based solar cell emerges as a solution. This solar cell, a conventional one in which cadmium Telluride is replaced by coconut shell based carbon material, has the potential in producing a significant amount of electrical energy by utilizing scattered radiation from radiotherapy and radiology machines. Furthermore, this activated carbon based-material undergoes thorough characterization into various teletherapy and radiology machines, and it can be seamlessly integrated into clinical practices.


Subject(s)
Renewable Energy , Humans , Solar Energy , Carbon/chemistry , Radiotherapy/methods , Tellurium/chemistry , Charcoal/chemistry
12.
PLoS One ; 19(6): e0299807, 2024.
Article in English | MEDLINE | ID: mdl-38900735

ABSTRACT

Without fundamentally altering how humans generate and utilise energy, there is no effective strategy to safeguard the environment. The motivation behind this study was to analyse the effectiveness of renewable energy in addressing climate change, as it is one of the most pressing global issues. This study involved the analysis of panel data covering 138 nations over a 27 year period, from 1995 to 2021, making it the latest addition to the existing literature. We examined the extent of the impact of renewable energy on carbon dioxide over time using panel, linear, and non-linear regression approaches. The results of our analysis, revealed that the majority of countries with the exception of Canada, exhibited a downward trend, underscoring the potential of increasing renewable energy consumption as an effective method to reduce carbon dioxide emissions and combat climate change. Furthermore, to reduce emissions and combat climate change, it is advisable for nations with the highest carbon dioxide emissions to adopt and successfully transition to renewable energy sources.


Subject(s)
Carbon Dioxide , Climate Change , Renewable Energy , Carbon Dioxide/analysis , Humans
13.
PLoS One ; 19(6): e0304637, 2024.
Article in English | MEDLINE | ID: mdl-38905302

ABSTRACT

The demand for renewable energy-based Electric Vehicle (EV) charging infrastructure is increasing in recent years. Solar PV based EV charging method is preferred as it has simple energy harvesting technique. The PV system is an uncertain power source, where the power generation is varied with respect to the availability of sunlight. So, that the charging station requires a backup power supply for the uninterrupted charging. For the integrated power sources, the charging station requires a simple and efficient conversion unit for the DC/AC/DC conversion. In this work, a modified Z-source inverter (MZSI) is developed for the multiport EV charger using PV and grid. The proposed MZSI is connected between the input and output sides to boost the voltage as per the demand at the battery side. In order to connect many battery units with the charger, the capacitors used in the MZSI are split as per the required number of charging ports. This developed converter topology operates the systems in four different modes like PV-Grid, PV-battery, grid-battery, and battery-grid. The performance of this proposed work has been validated in MATLAB/Simulink® and in the experimental setup. The experimental setup has been developed with two charging ports for obtaining 250W at each charger end which cumulatively produces 500W output across both chargers with an efficiency of 90.18%.


Subject(s)
Electric Power Supplies , Electricity , Renewable Energy , Equipment Design , Solar Energy
14.
J Environ Manage ; 364: 121446, 2024 Jul.
Article in English | MEDLINE | ID: mdl-38870795

ABSTRACT

The effect of mineral production on ecological footprint is examined in this study while controlling for economic growth, renewable energy consumption, and trade openness as additional determinants for Pakistan. On the empirical front, the study uses the "Dynamic Autoregressive Distributed Lag (DYNARDL)" simulations for the data collected between 1990 and 2021. The result portrays movement to the long-run equilibrium relationship when considering the ecological footprint as the outcome variable amidst mineral production, economic growth, renewable energy consumption, and trade openness as the covariates. Further, the finding shows temporal dynamics of mineral production on environmental quality with a short-term degradation versus long-term amelioration, which suggests that mineral production can be conducted more sustainably over time with an implication towards taking measures such as technological advancements, improved efficiency, and better waste management practices. Additionally, it failed to find evidence for the conventional "Environmental Kuznets Curve," implying a need for policy reevaluation, reassessment of economic development models and accounting for environmental externalities in economic decision-making. Besides, as expected, the outcome demonstrates that using renewable energy lowers the ecological footprint both in long and short terms, which indicates that utilization of renewable energy sources reduces reliance on fossil fuels, resulting in decreased environmental degradation, thereby fostering the need for emphasis on the importance of continued technological innovation in renewable energy technologies to reduce the ecological footprint further. Moreover, it shows that trade openness improves the environmental quality in the short run (worsens it in the long run), thereby highlighting that trade openness may lead to short-term environmental benefits by promoting cleaner technologies and increasing resource efficiency. However, in the long term, trade openness can exacerbate environmental degradation due to economic priorities often taking precedence over environmental concerns.


Subject(s)
Conservation of Natural Resources , Minerals , Conservation of Natural Resources/methods , Waste Management/methods , Renewable Energy , Pakistan
15.
J Environ Manage ; 364: 121485, 2024 Jul.
Article in English | MEDLINE | ID: mdl-38879967

ABSTRACT

The effectiveness of green finance in driving clean energy and environmental sustainability in the current era is receiving attention. Therefore, this study proposes an empirical framework highlighting the effects of green bonds (GB) on clean energy investment (CEI), clean energy investment efficiency (CEE) and environmental sustainability of 29 green bond issuing countries between 2014 and 2022. Using system and difference GMM approaches, this study finds that (i) green bond issuance drives clean energy investment. (ii) Green bonds sufficiently enhance the selected countries' environmental quality. These results supplement the promotion of green bonds in increasing the transfer of funds towards renewable energy projects by reducing reliance on fossil fuels. (iii) Using Driscoll & Kraay, Fully Modified-OLS, and changing the dependent variable, this study further supported the idea that green bonds effectively promote the CEE and environmental sustainability of the chosen countries. (iv) Similarly, this study conducted income heterogeneity, showing that green bonds improve high- and middle-income countries' CEI and environmental quality. (v) Finally, the results indicate that resource consumption escalates CO2 emissions by declining the CEI. Technological innovations increase CEI, whereas they do not mitigate CO2 emissions directly, hinting at the requirement for a comprehensive approach. Therefore, inclusive policies on green bond frameworks, robust incentives, and rigorous environmental criteria should be implemented to attract investment in clean energy development and ensure the environmental sustainability of the selected countries.


Subject(s)
Investments , Carbon Dioxide/chemistry , Carbon Dioxide/analysis , Conservation of Natural Resources , Renewable Energy
16.
Environ Sci Technol ; 58(26): 11247-11255, 2024 Jul 02.
Article in English | MEDLINE | ID: mdl-38904766

ABSTRACT

Companies are increasingly relying on emission reductions attributable to their adoption of renewable electricity to achieve net-zero emission targets. However, there is a risk of double counting of emission reductions threatening the credibility of corporate climate actions due to defective accounting rules of GHG emissions related to electricity consumption and the overlap between different market-based instruments, including carbon credit markets, renewable power purchase agreements, and renewable energy certificates. Using data of 63 major Chinese companies in seven sectors, we quantitatively assess the risks of double counting related to corporate sourcing of renewables and their consequent influences on the alignment of corporate emission trajectories with the 1.5 °C goal of the Paris Agreement. Results show that 7.1% of the electricity consumed by sample companies in 2021 was from renewable energy procurement and deployment, with which they reported 8.27 Mt of CO2e emission reductions compared to the scenario with no renewable electricity consumption. However, emission reductions that could be double counted are predicted to be 0.9-1.3 times as many as emission reductions that companies will report during 2021-2030. After adjustment of the reported emissions that might be underestimated due to double counting, the overall emission trajectories of sample companies are no longer aligned with the 1.5 °C goal. Our findings suggest that it is urgently needed to improve the corporate carbon accounting rules and increase the transparency of corporate carbon disclosures.


Subject(s)
Greenhouse Gases , Electricity , Renewable Energy
17.
Trends Ecol Evol ; 39(7): 599-602, 2024 Jul.
Article in English | MEDLINE | ID: mdl-38902166

ABSTRACT

Renewable energy projects, such as wind farms and hydropower dams, can indirectly benefit biodiversity by mitigating climate change. However, we explain why such indirect benefits should not contribute towards the accounting of project-level net biodiversity outcomes and provide guidance on the steps needed to legitimately claim no-net-loss of biodiversity.


Subject(s)
Biodiversity , Climate Change , Conservation of Natural Resources , Renewable Energy
18.
Environ Sci Pollut Res Int ; 31(29): 42160-42173, 2024 Jun.
Article in English | MEDLINE | ID: mdl-38861060

ABSTRACT

The world faces several problems related to natural gas resource rents and energy production from renewable sources. One of the main problems is the influence of energy imports, manufacturing exports, and alternative energy sources on natural gas and electricity production from renewable sources. Energy imports, manufacturing exports, and alternative energy sources can impact natural gas and electricity production. This paper examines natural gas resource rents and electricity production from renewable sources nexus from 1971 to 2021, using energy imports, manufacturer's exports, and alternative energy sources in China. Electricity production from renewable sources and manufacturing exports are negatively associated with natural gas resource rents. Energy imports and alternative energy sources positively relate to natural gas resource rents in China. These results suggest that the energy sector in China is highly interconnected and that policies that seek to promote renewable energy sources and other alternatives can positively affect natural gas resource rents. China needs to develop an energy policy considering the policy implications of energy imports and natural gas resource rents. Such a policy should focus on increasing domestic production, reducing energy imports, and ensuring adequate revenue from natural gas resource rents. Additionally, regulations could be implemented that support the development of alternative energy sources, such as requiring utilities to purchase a certain percentage of their power from renewable sources.


Subject(s)
Electricity , Natural Gas , Renewable Energy , China , Nuclear Energy
19.
Environ Sci Pollut Res Int ; 31(29): 42111-42132, 2024 Jun.
Article in English | MEDLINE | ID: mdl-38862803

ABSTRACT

This paper is the first comprehensive research to examine the effect of circular economy on environment employing two environmental degradation indicators (CO2 emissions, ecological footprint) and one environmental quality indicator (load capacity factor) for 57 Belt and Road Initiative (BRI) countries during 2000-2019. The effect of other variables such as renewable energy, industrialization, and globalization was also controlled. The study applied the cross-sectional autoregressive distributed lag method (CS-ARDL), the augmented mean group (AMG), and common correlated effects mean group (CCEMG) methods as a robustness checks. The empirical findings reveal that circular economy and renewable energy have pro-environmental effects by decreasing carbon emissions and ecological footprint and increasing the load capacity factor in BRI countries. However, industrialization and globalization have detrimental effects on the environment. The result of causality shows a bidirectional causality between renewable energy, circular economy, industrialization, and three environmental indicators, but the relationship of globalization with CO2 emissions and the load capacity factor is unidirectional and with the ecological footprint is bidirectional. All the results are confirmed by the robustness tests. The study suggests policy implications for the BRI government.


Subject(s)
Internationality , Renewable Energy , Industrial Development , Carbon Dioxide/analysis , Environment
20.
PLoS One ; 19(6): e0304478, 2024.
Article in English | MEDLINE | ID: mdl-38870180

ABSTRACT

In the context of the evolving landscape of reduction in carbon emissions and integration of renewable energy, this study uses system dynamics (SD) modeling to explore the interconnected dynamics of carbon trading (CT), tradable green certificate (TGC) trading, and electricity markets. Using differential equations with time delays, the study provides a comprehensive analysis of structural relationships and feedback mechanisms within and between these markets. Key findings reveal the intricate interplay between carbon prices, green certificate prices, and electricity prices under various coupling mechanisms. For example, under the three-market coupling mechanism, carbon trading prices stabilize around 150 Yuan/ton, while green certificate prices reach a peak of 0.45 Yuan/KWH, impacting electricity prices, which fluctuate between 0.33 and 1.09 Yuan / KWH during the simulation period. These quantitative results shed light on nuanced fluctuations in market prices and the dynamics of anticipated purchases and sales volumes within each market. The insights gleaned from this study offer valuable implications for policy makers and market stakeholders in navigating the complexities of carbon emission reduction strategies, the integration of renewable energy and market equilibrium. By understanding the dynamics of multi-market coupling, stakeholders can better formulate policies and strategies to achieve sustainable energy transitions and mitigate impacts of climate change.


Subject(s)
Carbon , Electricity , Renewable Energy/economics , Models, Economic , Commerce/economics , Models, Theoretical
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