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Sustainability 2017, 9(4), 532; doi:10.3390/su9040532

The Development of the Renewable Energy Power Industry under Feed-In Tariff and Renewable Portfolio Standard: A Case Study of China’s Photovoltaic Power Industry

1
School of Economics and Management, North China Electric Power University, Beijing 102206, China
2
State Grid Liaoning Electric Power Co., Ltd., Benxi Power Supply Company, Benxi 117020, China
*
Author to whom correspondence should be addressed.
Academic Editor: Jenny Palm
Received: 7 March 2017 / Revised: 28 March 2017 / Accepted: 29 March 2017 / Published: 31 March 2017
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Abstract

Among the regulatory policies, feed-in tariffs (FIT) and renewable portfolio standards (RPS) are the most popular to promote the development of renewable energy power industry. They can significantly contribute to the expansion of domestic industrial activities in terms of sustainable energy. In this paper, we synthetically consider various important factors with the analysis of the existing literature, and use system dynamics (SD) to establish models of long-term development of the renewable energy power industry under FIT and RPS schemes. The model not only clearly shows the complex logical relationship between the factors but also reveals the process of coordination between the two policy tools in the development of the renewable energy power industry. In addition, as an example of development of renewable energy industry, the paper studies the development of China’s photovoltaic power industry under different scenarios. The models proposed in this paper can provide a reference for scholars to study development of the renewable energy power industry in different countries, thereby facilitating an understanding of the renewable energy power’s long-term sustainable development pattern under FIT and RPS schemes, and helping to provide references for policy-making institutions. The results show that in the perfect competitive market, the implementation of RPS can promote long-term and rapid development of China’s photovoltaic power industry given the constraints and actions of the mechanisms of RPS quota proportion, the TGC valid period, and fines, compared with FIT. At the end of the paper, policy implications are offered as references for the government. View Full-Text
Keywords: renewable energy power; sustainable development of industry; feed-in tariff; renewable portfolio standard; system dynamics renewable energy power; sustainable development of industry; feed-in tariff; renewable portfolio standard; system dynamics
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Zhang, Y.; Zhao, X.; Zuo, Y.; Ren, L.; Wang, L. The Development of the Renewable Energy Power Industry under Feed-In Tariff and Renewable Portfolio Standard: A Case Study of China’s Photovoltaic Power Industry. Sustainability 2017, 9, 532.

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