The Impact of Carbon Emission Trading Markets on Regional Grid Investment Costs
The implicit systemic costs imposed by the carbon market on power grids have received relatively little attention.This paper,based on China's carbon emissions trading pilot policies,employs a DID(Differences-in-Differences)approach to analyze the impact of the carbon market on the investment costs of provincial power grids.The study finds that the carbon market signifi-cantly increases the investment costs of power grids in pilot regions,confirming the existence of additional systemic costs.The carbon market intensifies the pressure on power grids to absorb renewable energy and increases the frequency of peak shaving op-erations for thermal power units,thereby pushing up costs.To ensure the coordinated development of the carbon market and pow-er grid enterprises,the formulation of systemic cost alleviation policies is necessary in the future.This research provides empiri-cal evidence for understanding the implicit impact of the carbon market on power grids.
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