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Unraveling the determinants of air pollutant emissions: A production-theoretical decomposition analysis with endogenous direction vectors 揭示空气污染物排放的决定因素:内生方向向量的生产-理论分解分析
IF 12.8 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-31 DOI: 10.1016/j.eneco.2026.109162
S.Y. Wang, F. Wu, Y.Z. Liao, P. Zhou
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引用次数: 0
Clean energy-based rural domestic energy use transformation: A tripartite evolutionary game model analysis 基于清洁能源的农村家庭能源利用转型:三方演化博弈模型分析
IF 12.8 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-31 DOI: 10.1016/j.eneco.2026.109155
Huiqiao Wang, Mingming Zhang
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引用次数: 0
The impacts of community solar projects on housing prices: Evidence from Maryland, the U.S 社区太阳能项目对房价的影响:来自美国马里兰州的证据
IF 12.8 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-30 DOI: 10.1016/j.eneco.2026.109175
Yu Gao, Yueming Qiu, Xiaoli Zhao, Pengfei Liu, Bin Lu
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引用次数: 0
Clean vehicle ownership: Implications for effective policy interventions 清洁车辆所有权:对有效政策干预的影响
IF 12.8 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-29 DOI: 10.1016/j.eneco.2026.109172
Mercè Amich, Manuel Tomás, Petr Mariel, Iñaki Arto
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引用次数: 0
The effect of demand uncertainty on the optimal capacity mix of a wholesale electricity market 需求不确定性对电力批发市场最优容量组合的影响
IF 12.8 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-28 DOI: 10.1016/j.eneco.2026.109165
Irena Milstein, Asher Tishler, Chi-Keung Woo
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引用次数: 0
Analysis of short-run and long-run marginal costs of electricity generation in the power market 电力市场中发电的短期和长期边际成本分析
IF 14.2 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-27 DOI: 10.1016/j.eneco.2026.109169
Shamim Homaei , Simon Roussanaly , Asgeir Tomasgard
This paper examines the roles of long-run and short-run marginal costs (LRMC and SRMC) in shaping electricity prices and ensuring investment cost recovery, particularly when generation capacity is used across multiple long-term periods. Using a stylized capacity expansion model with two generators and two periods, we developed a five-step methodology to characterize all possible LRMC pricing profiles and prove cost recovery under each case. We showed how shared capacity affects intertemporal cost allocation, revealing that even when cheaper technologies are marginal, more expensive shared capacity can still recover its cost through distribution across periods. On the SRMC side, we identified a form of degeneracy caused by fixed invested capacities, leading to multiple valid marginal prices. To resolve price degeneracy, we add a small demand elasticity centered on the LRMC reference point. This yields a unique SRMC price that coincides with LRMC and guarantees cost recovery under energy-only pricing. Extensions to the model, such as increasing temporal resolution, adding storage, or including more generators, demonstrated the robustness of our findings.
本文考察了长期和短期边际成本(LRMC和SRMC)在塑造电价和确保投资成本回收方面的作用,特别是当发电能力在多个长期期间使用时。我们使用带有两个发电机和两个周期的程式化容量扩展模型,开发了一个五步方法来描述所有可能的LRMC定价概况,并证明每种情况下的成本回收。我们展示了共享容量如何影响跨期成本分配,揭示了即使当更便宜的技术处于边际时,更昂贵的共享容量仍然可以通过跨期分配收回其成本。在SRMC方面,我们发现了一种由固定投资能力引起的退化形式,导致多重有效边际价格。为了解决价格退化问题,我们增加了一个以LRMC参考点为中心的小需求弹性。这就产生了一个独特的SRMC价格,它与LRMC价格一致,并保证了在纯能源定价下的成本回收。对模型的扩展,如增加时间分辨率、增加存储或包括更多的生成器,证明了我们的发现的健壮性。
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引用次数: 0
The adoption of blockchain technology by green duopolistic firms: From Cournot to Bertrand competition 绿色双寡头企业对区块链技术的采用:从古诺到贝特朗竞争
IF 14.2 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-23 DOI: 10.1016/j.eneco.2026.109157
Xiaoyang Lei, Donghui Yang
Although firms have increasingly applied blockchain technology to facilitate consumers realizing the green investments of their products, the related literature is still rare. We investigate the blockchain adoption strategies of duopolistic firms that both exert green investments before engaging in Cournot competition or Bertrand competition. The findings are summarized as follows. First, when neither firm adopts blockchain technology under both competition models, the firms increase green investments with consumer green perception, which, however, does not inevitably lead to an increase in their profits. Second, the blockchain adoption strategies for both Cournot firms and Bertrand firms are closely correlated with the intensity of market competition and the unit cost of blockchain operation. For weak market competition, both firms (neither firm) will adopt blockchain technology when this unit cost remains rather low (high). Interestingly, one firm applies blockchain technology while the other abandons when the unit cost of blockchain operation is moderate even though these firms are symmetric. However, this asymmetric blockchain adoption strategy disappears for the fierce market competition. Finally, we reveal that Cournot firms are more (less) likely to adopt blockchain technology for the weak (fierce) market competition. These findings provide fresh managerial implications on blockchain adoption strategies for competitive firms under different competition models.
虽然企业越来越多地应用区块链技术来促进消费者实现其产品的绿色投资,但相关文献仍然很少。本文研究了双寡头企业在古诺竞争和贝特朗竞争中都进行绿色投资的区块链采用策略。研究结果总结如下。首先,在两种竞争模式下,当企业都不采用区块链技术时,企业增加绿色投资与消费者的绿色感知,但这并不必然导致企业利润的增加。其次,古诺公司和贝特朗公司的bbb采用策略与市场竞争强度和bbb运营的单位成本密切相关。在弱市场竞争条件下,当单位成本保持在较低(较高)水平时,两家企业(两家企业)都将采用区块链技术。有趣的是,即使这些公司是对称的,当区块链操作的单位成本适中时,一家公司使用区块链技术而另一家公司放弃。然而,这种不对称的区块链采用策略在激烈的市场竞争中消失了。最后,我们发现古诺企业在弱(激烈)市场竞争中更倾向于(不太)采用区块链技术。这些发现为不同竞争模式下竞争性企业采用区块链策略提供了新的管理启示。
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引用次数: 0
Diffusion of electric vehicles – The spillover effect of charging facilities and government demonstrations for neighbouring and peer regions 电动汽车的扩散——充电设施和政府示范对邻近和同行地区的溢出效应
IF 14.2 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-23 DOI: 10.1016/j.eneco.2026.109164
Ronghui Zhu , Tieju Ma , Jingbing Feng
Promoting the adoption of electric vehicles (EVs) is important for the decarbonisation of the transportation sector. Existing research indicates that the diffusion of new technologies tends to be highly spatially correlated. This study explores whether a region's adoption of EVs is positively related with the availability of charging facilities and government demonstrations promoting EVs in peer regions. This study develops a dynamic spatial panel data model based on the Spatial Dubin Model to explore this question using panel data from 28 provinces in China from 2013 to 2020. The main findings of this study include the following: 1) Not surprisingly, the high availability of charging facilities in a region and its local government's demonstration effort contribute to the adoption of EVs in the region; 2) the adoption of EVs in one region can contribute to EV adoption in its peer regions – so-called spillover effect; in particular, the government's demonstration effort contributes significantly to this effect, but the high availability of charging facilities does not; and 3) such spillover effects are more significant in regions with higher economic levels or regions with warm temperatures. Our study provides implications for EV makers to identify further potential markets for EVs.
推动电动汽车(ev)的采用对交通运输部门的脱碳至关重要。现有研究表明,新技术的扩散往往具有高度的空间相关性。本研究探讨了一个地区对电动汽车的采用是否与充电设施的可用性和政府在同行地区推广电动汽车的示范呈正相关。本文利用2013 - 2020年中国28个省份的面板数据,建立了基于空间杜宾模型的动态空间面板数据模型来探讨这一问题。本研究的主要发现包括:1)毫无疑问,充电设施的高可用性以及当地政府的示范努力有助于该地区采用电动汽车;2)一个地区对电动汽车的采用可以促进其同级地区对电动汽车的采用,即所谓的溢出效应;特别是,政府的示范努力对这种效果有很大贡献,但充电设施的高可用性却没有;③这种溢出效应在经济水平较高的地区和气温较高的地区更为显著。我们的研究为电动汽车制造商确定电动汽车的进一步潜在市场提供了启示。
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引用次数: 0
Coal-fired peak regulation for integrating photovoltaic and wind power: Impact analysis and optimization of capacity tariff 光伏与风电并网的燃煤调峰:容量电价影响分析与优化
IF 14.2 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-23 DOI: 10.1016/j.eneco.2026.109158
Min Wang , Chunhai Jiang
The large-scale development and utilization of green electricity, particularly photovoltaic (PV) and wind power, is a key pathway for China's energy system to achieve low-carbon transition. However, the inherent intermittency and instability of PV and wind power pose significant challenges to the stable operation of the power system. Coal-fired utilization hours decreased from 5876 h in 2005 to 4476 h in 2023(−23.8%). This study designs a quasi-natural experiment based on China's policies for integrating PV and wind power into the grid. Using intensity-based DID methods at both the provincial coal-fired power macro level and the coal-fired power enterprise micro level, we examine the impact of PV and wind power integration on the utilization efficiency of coal-fired power equipment. The results indicate that the integration of PV and wind power significantly reduces the utilization levels of coal-fired power units. Mechanism analysis reveals that PV and wind power substantially substitute for coal-fired power while also exhibiting complementary effects. Heterogeneity analysis shows that the negative impact of PV and wind power integration on coal-fired power is stronger in provinces/regions with higher wind power potential relative to total PV and wind power potential, higher electricity supply rates, slower progress in the transformation and upgrading of coal-fired power, and lower levels of economic development. Further analysis indicates that large-scale coal-fired power enterprises, leveraging cost synergies, are more actively participating in the integration of PV and wind power. Finally, this study develops an optimization model for coal-fired power capacity tariffs based on the coefficient of variation method, enabling province- and region-level differentiation in the adjustment of current capacity tariffs. This study provides empirical evidence and reference solutions to alleviate green electricity integration pressures and accelerate the construction of a new energy system.
大规模开发利用绿色电力,特别是光伏和风电,是中国能源系统实现低碳转型的重要途径。然而,光伏发电和风电固有的间歇性和不稳定性对电力系统的稳定运行提出了重大挑战。燃煤利用小时数从2005年的5876小时下降到2023年的4476小时(- 23.8%)。本研究基于中国光伏和风电并网政策设计了一个准自然实验。采用基于强度的DID方法,从省级煤电宏观层面和煤电企业微观层面考察了光伏与风电并网对煤电设备利用效率的影响。结果表明,光伏与风力发电的结合显著降低了燃煤机组的利用率水平。机理分析表明,光伏发电和风电对燃煤发电具有较强的替代作用,同时又具有互补效应。异质性分析表明,风电潜力相对光伏和风电潜力高、供电率高、煤电转型升级速度慢、经济发展水平较低的省份/地区,光伏和风电并网对煤电的负面影响更大。进一步分析表明,大型煤电企业利用成本协同效应,更积极地参与光伏与风电的整合。最后,本文基于变异系数法构建了煤电容量电价优化模型,实现了当前容量电价调整的省域差异化。本研究为缓解绿色电力一体化压力,加快新能源体系建设提供了实证依据和参考方案。
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引用次数: 0
Does ESG performance mitigate ESG-negative events? Examining the insurance-like vs. greenwashing effect ESG绩效能否缓解ESG负面事件?检验类似保险与洗绿效应
IF 14.2 2区 经济学 Q1 ECONOMICS Pub Date : 2026-01-22 DOI: 10.1016/j.eneco.2026.109163
Yin-Hua Yeh , Chen-Chieh Liao
This paper examines how ESG performance moderates the impact of ESG-negative events on stock prices, using Taiwanese listed companies as the sample due to investors' easy access to ESG scores and a comprehensive database on event severity. The study contrasts two competing perspectives: the insurance-like effect and the greenwashing effect. The results indicate that the insurance-like effect diminishes when firms face severe ESG-negative events or financial constraints, with the effect being most pronounced in firms with high information asymmetry. Furthermore, the cost of equity capital serves as a transmission channel for this effect. Conversely, firms with high ESG exposure risks and elevated ESG scores experience more severe stock price declines following ESG-negative events, confirming the greenwashing effect. Notably, the insurance-like effect is observed only in companies with low ESG exposure risks. These findings highlight the dual role of ESG performance: acting both as a protective mechanism and as a source of heightened scrutiny in stock markets.
本研究以台湾上市公司为样本,考察ESG绩效如何调节ESG负面事件对股价的影响,因为台湾上市公司的ESG评分比较容易获得,且事件严重程度资料库比较完备。该研究对比了两种相互竞争的观点:类似保险的效应和洗绿效应。结果表明,当企业面临严重的esg负面事件或财务约束时,类保险效应减弱,在信息不对称程度较高的企业中效果最为明显。此外,权益资本成本是这种效应的传导渠道。相反,ESG暴露风险高、ESG得分高的公司在ESG负面事件发生后股价下跌更严重,证实了“漂绿效应”。值得注意的是,类似保险的效应仅在ESG暴露风险较低的公司中观察到。这些发现突出了ESG绩效的双重作用:既是保护机制,也是股票市场加强审查的来源。
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Energy Economics
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