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How Would Power Generation Enterprise Preference Affect Long-Term Low-Carbon Transition of the Power Sector Under Uncertainty?

Series 
CEEESA/Grid Seminar
Presenter 
Huadong Chen (ES)
April 21, 2017 11:30AM to 12:30PM
Location 
Building 362, Room F108
Type 
Seminar

Abstract: As the largest emitter in China, the power sector needs to make its contribution in carbon emission reduction through long-term low carbon transition. With greater freedom in China’s electricity market, the power sector's long-term transition relies on investment decisions of all the power generation enterprises in the market. As an economic entity, a power generation enterprise has its preference for risk when faced with future uncertainty and has preferences for different technologies. Both preferences can have important impacts on the enterprise investment decision and thus long-term transition of the entire power sector.

To justify these impacts of power generation enterprises, preferences (including risk preference and adaptive technical preference), this talk will present an agent-based model, combined with Monte Carlo simulation, for simulation of China's power sector's long-term low-carbon transition under uncertainties. Then this talk will separately present and discuss detailed impacts of risk preference and adaptive technical preference on low-carbon transition of China's power sector.

Bio: Huadong Chen received his B.S. from Renmin University of China in 2013. He is currently a Ph.D. student in the School of Environment, Tsinghua University, China. He works is a visiting graduate student at Argonne under the supervision of  Jianhui Wang. His research interests include power system uncertainty modeling, investment behavior modeling in power sector, agent-based modeling, and carbon emission trading simulation.