Evaluation Method for Carbon Emission Reduction Benefits of Renewable Energy Considering the Coupling of Electricity and Carbon Markets

With the rapid development of electricity–carbon markets and global renewable energy deployment, accurately quantifying and fairly compensating carbon reduction benefits of energy has become crucial for low-carbon energy transformation. Current methods suffer from mechanism, price signal fragmentation, and unclear carbon responsibility attribution. To address these challenges, this paper proposes a novel renewable energy carbon emission reduction benefit evaluation method considering electricity–carbon coupling. Firstly, a Copula-based methodology to construct typical electricity–carbon price scenarios is developed, revealing significant correlation between electricity and carbon prices (Spearman coefficient: 0.730, Kendall coefficient: 0.620). Second, a power dispatch model incorporating BEKK-GARCH-based price linkage analysis is established, quantifying the coupling risk coefficient at 0.54. Third, an improved Shapley value method with correction factors including responsiveness, output stability, and marginal carbon reduction benefits is introduced to accurately evaluate renewable energy contributions. Case study results demonstrate that the proposed method achieves 20.3% system cost reduction, and 7.10–9.90% carbon reduction improvements with energy storage. Practical testing directions include pilot implementations in regional power grids followed by scaling to larger networks, with subsequent applications in regulatory carbon market design, utility optimization planning, and renewable energy project evaluation. This work provides essential tools for global electricity–carbon market integration and carbon neutrality achievement in power systems.

Authors

Institutions

Publication Details

Journal
Applied Sciences
Published
2025-10-29
DOI
https://doi.org/10.3390/app152111561
Primary Topic
Integrated Energy Systems Optimization
Type
article
Field-Weighted Citation Impact
0.00

Funders

Controls
|||
ALL TIME
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
article

Evaluation Method for Carbon Emission Reduction Benefits of Renewable Energy Considering the Coupling of Electricity and Carbon Markets

Sheng Zhou, Zhenzhi Lin, Kun Chen, Zikang Shen et al.
Applied Sciences
Integrated Energy Systems Optimization
article

Evaluation Method for Carbon Emission Reduction Benefits of Renewable Energy Considering the Coupling of Electricity and Carbon Markets

Sheng Zhou, Zhenzhi Lin, Kun Chen, Zikang Shen, Yinuo Zhu, Yuanqian Ma, Fei Zhao, Ke Zhao, Yanxia Yao
article en

Abstract

With the rapid development of electricity–carbon markets and global renewable energy deployment, accurately quantifying and fairly compensating carbon reduction benefits of energy has become crucial for low-carbon energy transformation. Current methods suffer from mechanism, price signal fragmentation, and unclear carbon responsibility attribution. To address these challenges, this paper proposes a novel renewable energy carbon emission reduction benefit evaluation method considering electricity–carbon coupling. Firstly, a Copula-based methodology to construct typical electricity–carbon price scenarios is developed, revealing significant correlation between electricity and carbon prices (Spearman coefficient: 0.730, Kendall coefficient: 0.620). Second, a power dispatch model incorporating BEKK-GARCH-based price linkage analysis is established, quantifying the coupling risk coefficient at 0.54. Third, an improved Shapley value method with correction factors including responsiveness, output stability, and marginal carbon reduction benefits is introduced to accurately evaluate renewable energy contributions. Case study results demonstrate that the proposed method achieves 20.3% system cost reduction, and 7.10–9.90% carbon reduction improvements with energy storage. Practical testing directions include pilot implementations in regional power grids followed by scaling to larger networks, with subsequent applications in regulatory carbon market design, utility optimization planning, and renewable energy project evaluation. This work provides essential tools for global electricity–carbon market integration and carbon neutrality achievement in power systems.

Applied SciencesVol. 15(21)
State Grid Corporation of China (China) (CN), Shanghai Electric (China) (CN), Sanya University (CN)
State Grid Zhejiang Electric Power Company
Openalex Percentile: Top 69%
Integrated Energy Systems Optimization
AI Navigator

Ask Laika to Summarize, Analyze, and Connect papers live on the map.

Summarize Papers & Methodologies

Extract key findings, datasets, and comparative methods across publications.

Benchmark Rankings & Visual Analytics

Rank top research institutions, authors, funders, topics, and journals by Field-Weighted Citation Impact (FWCI) and paper volume with instant charts.

Connect Distant Disciplines

Bridge topological clusters on the map to find hidden collaborative intersections.