Design and Evaluation of Environmental Value Mechanisms for Green Power Considering Carbon Reductions

Under the global context of addressing climate change and actively promoting energy transition, green power has become increasingly vital in the energy structure due to its clean and sustainable advantages. However, the development of green power’s environmental value faces multiple challenges that hinder its marketization. This study first systematically analyzes the current status of developing the environmental value of green power and identifies existing issues. Second, it designs a green power environmental value mechanism and constructs a quantitative model from the perspective of coal-fired power carbon abatement costs, analyzing the emission reduction value of green power in replacing different types of coal-fired power generation. The results show the following: (1) When power generation types are not differentiated, the environmental value exhibits significant seasonal variations. (2) The environmental value for coal-fired units above 300 MW is lower than the overall average, while that of gas-fired units falls between coal-fired units and the average; the environmental value of generating units with a capacity of 300 MW or less is the lowest, followed by that of unconventional coal-fired units. (3) The environmental value calculated based on the marginal carbon abatement cost of coal-fired units, is slightly higher than the tradable green certificate (TGC) price. This study provides policy support for promoting the low-carbon transition of the power sector and facilitating the development of a green power trading market.