|Title:||The carbon trading development and protocols in the world wide scale|
|Advisors:||Cao, Sunliang (BEEE)|
|Subject:||Carbon dioxide mitigation|
Hong Kong Polytechnic University -- Dissertations
|Department:||Department of Building Environment and Energy Engineering|
|Pages:||65 pages : color illustrations|
|Abstract:||Global warming and climate issues have become the most serious problems facing countries in the 21st century, In response to international energy shortages and severe weather conditions, industrialized countries joined together to create the Kyoto Protocol in 1997. Carbon credits have become a commodity that can be bought and sold, which has since ushered in an era of carbon pricing and carbon trading. Major global carbon trading markets include the EU carbon trading market, the UK carbon trading market, the Australian carbon trading market, the US Chicago Climate Exchange, the New Zealand carbon trading market and the Japanese and Korean carbon trading markets, and they have developed very mature carbon trading systems.|
The dissertation delves into the global carbon trading mechanism, selecting the more maturely developed EU carbon trading model, the Australian carbon trading model, the Tokyo carbon trading model and the Korea carbon trading model for application to the Hong Kong region. The main body of the project is a coastal building community located on Lamma Island, Hong Kong. It has the size of a typical community with 8 high-rise residential building and 2 mid-rise office buildings. The whole building community is powered by a renewable energy hybrid system of wind and tidal power generation to achieve low energy consumption and low carbon emissions. In this process, nine different combinations of renewable energy systems are tried. And the entire process is simulated on the building energy software "TRNSYS 18" for energy consumption. At the same time, the four different carbon trading models and feed-in tariff schemes are used in the building community to explore the economic benefits. After simulation and analysis, the feasibility of renewable energy systems are assessed as a whole from three perspectives, including economic performance, technical performance and environmental performance. From the environmental aspect, the building community can reduce CO2 emissions by at least 9,794 tonnes per year with the renewable energy systems, which generate significant environmental benefits. From the economic aspect, there are also high returns from carbon trading and feed-in tariff model. The renewable energy systems can repay the initial investment and operating costs in as little as three years, and a net profit can be achieved over the remaining seventeen years of the system's life. From the technical performance, both the ratio of electricity generation consumed by the building to the total power generation of the renewable energy system and the ratio of electricity generation consumed by the building to the total energy demand are larger than 0.5. The renewable energy systems have a good technical performance.
This dissertation demonstrates that the implementation of the carbon trading mechanism and feed-in tariff model in Hong Kong can bring significant benefits in both environmental and economic terms, and provides some basis for the establishment of a carbon trading mechanism in Hong Kong and the Greater Bay Area in the future.
|Rights:||All rights reserved|
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