Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor | Department of Building and Real Estate | en_US |
| dc.contributor.advisor | Ni, Meng (BRE) | en_US |
| dc.contributor.advisor | Shen, Qiping Geoffrey (BRE) | en_US |
| dc.contributor.advisor | Wong, Kwok-wai Johnny (BRE) | en_US |
| dc.creator | Zhang, Ruixiaoxiao | - |
| dc.identifier.uri | https://theses.lib.polyu.edu.hk/handle/200/11360 | - |
| dc.language | English | en_US |
| dc.publisher | Hong Kong Polytechnic University | en_US |
| dc.rights | All rights reserved | en_US |
| dc.title | A regional-power-grid-based wind power feed-in tariff benchmark price policy in China | en_US |
| dcterms.abstract | This thesis has completed a comprehensive policy design process for the reform of the wind power Feed-in Tariff (FIT) benchmark price in China. This thesis consists of five chapters. A series of main supporting policies implemented by the government from 2009 to 2016 is summarized in Chapter One. This chapter aims to provide a systematic overview of the evolution and implementation of onshore wind power development, as well as analyse the localization and competitiveness of wind power enterprises. This chapter summarizes how the Chinese government efficiently promotes the drastic wind power development by means of fiscal and non-fiscal policies, which includes stimulating the wind power investment, addressing the wind power curtailment problem, localizing the Chinese-owned manufacturers in domestic markets and internationalizing the exposure of Chinese-owned enterprises. This chapter concludes that the effectiveness of wind power policies is high, and they play a vital role in the Chinese wind power market. Chapter Two aims to examine the effectiveness of the current wind FIT policy at a national-level, and to investigate the determinants of wind power development at a regional-grid-level. The determinants include substitutable fuel (coal consumption), economic development (GDP per capita), residential electricity price and efficiency of an economy (electricity intensity). It is found that the determinants on wind power development show great differences among six regional grids. It is also found that it is urgent to reform the wind FIT policy, especially segmented wind FIT policies rather than a national consolidated one should be developed for different regional grids. Chapter Three establishes the wind power FIT policy design framework and narrows down the design elements by cross-sectional analysis. Chapter Four evaluates the model developed in Chapter Three in detail. The Chinese government plans to adopt a low or no subsidy policy mechanism on renewable energy power development in the future. To achieve a balance between reducing financial burden on the government and ensuring profitability of investors as well as to account for the regional differences in China, a novel regional wind power grid feed-in tariff benchmark price mechanism by Net Present Value (NPV) method and Real Option (RO) method is proposed in this chapter. The results voice support on the appropriateness of gradually decreasing the wind feed-in tariff (FIT) benchmark price to as low as the coal-fired FIT. The proposed FIT price level is presented as a price range on the basis of a guaranteed Internal Rate of Return (IRR) between 8% and 15% for wind power investors. The results indicate that the current FIT price should be readjusted and redistributed. Although the FIT price in Central and South China grids is recommended to be relatively high, the NPV of wind farm project value in six regional grids are at the same level. Policy implications, research limitations and future work are summarized as conclusions in Chapter Five. | en_US |
| dcterms.extent | [16], 149 pages : color illustrations | en_US |
| dcterms.isPartOf | PolyU Electronic Theses | en_US |
| dcterms.issued | 2020 | en_US |
| dcterms.educationalLevel | Ph.D. | en_US |
| dcterms.educationalLevel | All Doctorate | en_US |
| dcterms.LCSH | Wind power -- China | en_US |
| dcterms.LCSH | Energy policy -- Environmental aspects | en_US |
| dcterms.LCSH | Energy industries -- Prices | en_US |
| dcterms.LCSH | Hong Kong Polytechnic University -- Dissertations | en_US |
| dcterms.accessRights | open access | en_US |
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