Carbon trading boosts renewable energy, reduces coal usage, and cuts emissions.
The study looked at how carbon trading affects the use of renewable energy in China. They used a model to see how trading emissions would impact the economy, energy, and environment from 2018 to 2030. Different scenarios were considered, and the results showed that carbon trading leads to more use of renewable energy, as it becomes more affordable compared to fossil fuels. This means that electricity generated from renewable sources increases in all scenarios. However, the overall share of renewable energy doesn't change much because of various factors. Carbon trading does reduce the use of coal and helps increase the use of renewable energy, emphasizing the importance of setting ambitious carbon reduction goals and transitioning to cleaner energy sources.