Green Credit of China’s Coal Power Enterprises during Green Transformation: A Tripartite Evolutionary Game Analysis
Abstract
:1. Introduction
2. Literature Review
3. The Evolutionary Game Model
3.1. Assumptions
3.2. Model Analysis
3.2.1. Expected Return Function
3.2.2. Equilibrium Point Solution
3.3. Asymptotic Stability Analysis
3.3.1. Asymptotic Stability Analysis of Government
3.3.2. Asymptotic Stability Analysis of Coal Power Enterprises
3.3.3. Asymptotic Stability Analysis of Banks
4. Equilibrium Analysis
4.1. Game Equilibrium Point Analysis
4.2. Evolutionary Path Analysis
5. Numerical Simulations
5.1. Basic Scenario
5.2. Sensitivity Analysis
5.2.1. Electricity Price
5.2.2. Carbon Emission Trading Price
5.2.3. Project Cost
5.2.4. Green Credit Adjustment Factor
6. Conclusions
7. Discussion
Author Contributions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Subject | Parameters | Definition |
---|---|---|
Government | Socio-economic benefit function | |
Socio-environmental benefit function | ||
Regulatory costs | ||
Green credit financial subsidy | ||
Coal power enterprises | Electricity prices | |
Coal prices | ||
Green transition enterprise power generation | ||
Passive reduction of enterprise power generation | ||
Green transition carbon emissions | ||
Passive reduction of carbon emissions | ||
Carbon emission allowance | ||
Carbon emission trading price | ||
Commercial Banks | Loan interest rate | |
Project loan amount | ||
Green adjustment factor | ||
Implementation of green credit bank costs | ||
Implementation of traditional credit bank costs |
Subject | Banks | ||||
---|---|---|---|---|---|
Implementation of Green Credit Policy (z) | Implementation of Traditional Credit Policies (1 − z) | ||||
Govern-ment | Coal power enterprises | Green transformation | |||
0 | 0 | ||||
Green transformation | |||||
0 | 0 |
Equilibrium Point | Eigenvalue | Symbols | Stability | ||
---|---|---|---|---|---|
λ1 | λ2 | λ3 | |||
(0,0,0) | 0 | −, N, 0 | Instability | ||
(1,0,0) | 0 | +, N, 0 | Instability | ||
(0,1,0) | −, N, − | Uncertain | |||
(0,0,1) | 0 | −, N, 0 | Instability | ||
(1,1,0) | +, N, N | Instability | |||
(1,0,1) | 0 | +, N, 0 | Instability | ||
(0,1,1) | −, N, + | Instability | |||
(1,1,1) | +, N, − | Instability |
Equilibrium Point | Scenario 1 | Scenario 2 | ||
---|---|---|---|---|
Eigenvalue Symbols | Stability | Eigenvalue Symbols | Stability | |
(0,0,0) | −, −, 0 | Unstable | −, +, 0 | Unstable |
(1,0,0) | +, −, 0 | Unstable | +, +, 0 | Unstable |
(0,1,0) | −, +, − | Unstable | −, −, − | Stable |
(0,0,1) | −, N, 0 | Unstable | −, N, 0 | Unstable |
(1,1,0) | +, +, N | Unstable | +, −, N | Unstable |
(1,0,1) | +, N, 0 | Unstable | +, N, 0 | Unstable |
(0,1,1) | −, N, + | Unstable | −, N, + | Unstable |
(1,1,1) | +, N, − | Unstable | +, N, − | Unstable |
Subject | Parameters | Unit | Assignment |
---|---|---|---|
Government | / | / | |
/ | / | ||
CNY | 5,000,000 | ||
CNY | 30,000,000 | ||
Coal power enterprises | CNY/kWh | 0.40/0.41/0.42/0.43/0.44/0.45 | |
CNY/kWh | 0.3 | ||
kWh | 1,200,000,000 | ||
kWh | 960,000,000 | ||
Tonnes | 18,000 | ||
Tonnes | 748,800 | ||
/ | / | ||
CNY/tonne | 50/55/60/65/70/75 | ||
Banks | / | 0.0445 | |
CNY | 1,600,000,000/1,500,000,000 /1,400,000,000/1,300,000,000 /1,200,000,000/1,100,000,000 | ||
/ | 0/0.2/0.4/0.6/0.8/1 | ||
CNY | 15,000,000 | ||
CNY | 10,000,000 |
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Cui, F.; Han, C.; Liu, P.; Teng, M. Green Credit of China’s Coal Power Enterprises during Green Transformation: A Tripartite Evolutionary Game Analysis. Energies 2022, 15, 5911. https://doi.org/10.3390/en15165911
Cui F, Han C, Liu P, Teng M. Green Credit of China’s Coal Power Enterprises during Green Transformation: A Tripartite Evolutionary Game Analysis. Energies. 2022; 15(16):5911. https://doi.org/10.3390/en15165911
Chicago/Turabian StyleCui, Feng, Chuanfeng Han, Pihui Liu, and Minmin Teng. 2022. "Green Credit of China’s Coal Power Enterprises during Green Transformation: A Tripartite Evolutionary Game Analysis" Energies 15, no. 16: 5911. https://doi.org/10.3390/en15165911