Paper
24 October 2023 The pathway of carbon trading to reduce the cost of tidal energy
Cailin Zhang, Yunfeng Huo, Xin Li, Changlei Ma
Author Affiliations +
Proceedings Volume 12804, Second International Conference on Sustainable Technology and Management (ICSTM 2023); 128042C (2023) https://doi.org/10.1117/12.3006088
Event: 2nd International Conference on Sustainable Technology and Management (ICSTM2023), 2023, Dongguan, China
Abstract
Carbon trading is an important means to achieve the peak and carbon neutrality in China. As a clean renewable energy, tidal plays an important role in the goal of "double carbon". This paper includes carbon trading into the factors affecting the cost of tidal energy, and explores the path to reduce the cost of tidal energy under the condition of carbon trading. Firstly, combined with the development status of domestic carbon trading market, this paper analyzes the necessity and importance of including carbon emission reduction into the cost analysis of tidal power. Secondly, the carbon trading income is considered into the the Levelized Cost of Energy (LCOE) cost pricing model, and we will built CO2-LCOE pricing model to measure the cost of tidal energy and make comparative analysis. The results show that in the condition of allowing carbon trading can reduce the cost of tidal energy to some extent, but the impact is small, mainly depending on the transaction number and the price of transactions in the current market. Through further research, it is found that the construction cost and operating cost are still important factors affecting the cost of tidal power generation, which account for a large proportion of the total cost, resulting in a smaller proportion of carbon trading revenue. China's dual-carbon policy is still in the initial stage of implementation, and various policies, systems and technical levels need to be improved, and there are problems such as low carbon trading price and less net electricity generation. With the reduce of carbon emissions, carbon trading prices will continue to rise, at the same time, the construction cost and operating costs of learning curve will move down, the benefits of the carbon exchange will improve its cost in the whole life cycle. Therefore, carbon trading and carbon emission reduction is still an important way to reduce the cost of tidal energy.
(2023) Published by SPIE. Downloading of the abstract is permitted for personal use only.
Cailin Zhang, Yunfeng Huo, Xin Li, and Changlei Ma "The pathway of carbon trading to reduce the cost of tidal energy", Proc. SPIE 12804, Second International Conference on Sustainable Technology and Management (ICSTM 2023), 128042C (24 October 2023); https://doi.org/10.1117/12.3006088
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KEYWORDS
Carbon

Tidal energy

Renewable energy

Solar energy

Atmospheric modeling

Carbon dioxide

Climate change

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