How carbon market impacts emission reduction in thermal power:From the perspective of carbon price
The carbon market is an important policy tool for the thermal power industry to achieve carbon emission reduction targets.It is an urgent issue to explore whether carbon market can affect carbon emission reduction in thermal power industry.This study constructs a Stackelberg game model for power generation enterprises to participate the trading in the electricity and carbon markets.And it reveals the theoretical mechanism of the"inverted U"effect of carbon price on carbon emission reduction in thermal power industry.Based on this,considering the effect of carbon price,this study employs differences-in-differences to test the carbon reduction effect of carbon market on thermal power industry by using inter-provincial panel data from 2005-2019.The results show that the carbon market promotes carbon emission reduction in the thermal power industry,but its impact has a lag effect.Moreover,it is robust to the"inverted U"type relationship between carbon price and carbon emission reduction in thermal power industry.This study can offer empirical support for carbon price driving carbon emission reduction in the thermal power industry and provide an important reference for the improvement of the carbon market institutional system.
electricity marketcarbon marketcarbon pricecarbon emission reductionthermal power industry
NETL
NSTL
万方数据
维普
