Renewable energy and carbon-neutral gaming: A holistic approach to sustainable electricity

Chien-Chiang Lee (), Jafar Hussain and Xian Mu

Energy, 2024, vol. 297, issue C

Abstract: Carbon emissions are a global issue around the world due to energy consumption, and to resolve this, increasing focus has been placed on attaining carbon neutrality. This research bridges the gap in related literature by considering perspectives on electricity. We develop a regression model from renewable energy consumption and production and apply game theory to get different decisions on electricity production from renewable energy (RE) production-consumption and subsidies on RE resources. Subsequently, a simulation-driven optimization method is employed to generate various scenarios. Various experiments are manipulated to find the optimal decisions of carbon-neutral indicators. Results indicate that subsidies on renewable energy that generate electricity exhibit a significant role in maximizing CO2 emission reduction. It is found that subsidies on wind energy consumption and production play a pivotal role in mitigating carbon emissions. This study elaborates on a valuable contribution in providing optimal decisions for achieving carbon neutrality in RE production and consumption. It offers guidelines to pay attention to the policies about RE resources to make the environment clean. Ultimately, this research not only presents optimal pathways for attaining carbon neutrality but also marks the necessity of targeted policies focused on RE resources to promote a cleaner and sustainable environment globally.

Keywords: Electricity; CO2 emission per capita; Carbon neutrality; Optimization; Game theory (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:297:y:2024:i:c:s0360544224009769

DOI: 10.1016/j.energy.2024.131203

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