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Evaluating the Effectiveness of New and Old Kinetic Energy Conversion from an Electric Power Economics Perspective: Evidence on the Shandong Province of China

Author

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  • Wanlei Xue

    (Economic & Research Institute, State Grid Shandong Electric Power Company, Jinan 250002, China)

  • Bingkang Li

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China)

  • Yongqi Yang

    (Economic & Research Institute, State Grid Shandong Electric Power Company, Jinan 250002, China)

  • Huiru Zhao

    (School of Economics and Management, North China Electric Power University, Beijing 102206, China)

  • Nan Xu

    (Economic & Research Institute, State Grid Shandong Electric Power Company, Jinan 250002, China)

Abstract

This paper proposes a hybrid model for evaluating the effectiveness of new and old kinetic energy conversion (NOKEC), China’s major strategic move aiming to transform the mode of economic growth and improvie the quality of economic development. Considering the goals of NOKEC and the supporting roles of power industry to NOKEC, this paper constructs an index system for NOKEC effectiveness evaluation from an electric power economics perspective, involving three dimensions and 17 secondary indicators. Furthermore, a hybrid evaluation model based on DEMATEL-ANP and DQ-GRA techniques is developed to accomplish the evaluation of Shandong’s NOKEC effectiveness. The results show that Shandong’s NOKEC effectiveness increased from 2015–2017, indicating that Shandong’s NOKEC policies have achieved remarkable results. According to the evaluation results, this paper puts forward the indicators that should be paid close attention to and the following work priorities in Shandong’s future NOKEC process, which has certain practical value for the promotion of Shandong’s NOKEC. In addition, the evaluation model proposed in this paper considers the interrelationships between indicators and overcomes the shortcomings of traditional GRA, showing good applicability to similar effectiveness evaluation issues. Finally, the limitations and universality of the model are discussed and the improvement direction is put forward.

Suggested Citation

  • Wanlei Xue & Bingkang Li & Yongqi Yang & Huiru Zhao & Nan Xu, 2019. "Evaluating the Effectiveness of New and Old Kinetic Energy Conversion from an Electric Power Economics Perspective: Evidence on the Shandong Province of China," Energies, MDPI, vol. 12(6), pages 1-17, March.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:6:p:1174-:d:217318
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    References listed on IDEAS

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    Cited by:

    1. Yanbin Li & Feng Zhang & Yun Li & Bingkang Li & Zhen Li, 2019. "Evaluating the Power Grid Investment Behavior in China: From the Perspective of Government Supervision," Energies, MDPI, vol. 12(21), pages 1-23, November.
    2. Chun-Chieh Tseng & Jun-Yi Zeng & Min-Liang Hsieh & Chih-Hung Hsu, 2022. "Analysis of Innovation Drivers of New and Old Kinetic Energy Conversion Using a Hybrid Multiple-Criteria Decision-Making Model in the Post-COVID-19 Era: A Chinese Case," Mathematics, MDPI, vol. 10(20), pages 1-25, October.
    3. Cui, Yu & Khan, Sufyan Ullah & Li, Zhixue & Zhao, Minjuan, 2021. "Environmental effect, price subsidy and financial performance: Evidence from Chinese new energy enterprises," Energy Policy, Elsevier, vol. 149(C).
    4. Zhao, Huiru & Li, Bingkang & Lu, Hao & Wang, Xuejie & Li, Hongze & Guo, Sen & Xue, Wanlei & Wang, Yuwei, 2022. "Economy-environment-energy performance evaluation of CCHP microgrid system: A hybrid multi-criteria decision-making method," Energy, Elsevier, vol. 240(C).

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