Facilitating developments of solar photovoltaic power and offshore wind power to achieve carbon neutralization: an evolutionary game theoretic study.

Abstract

This paper aims at facilitating the developments of solar photovoltaic (PV) power and wind power generations to reduce carbon emission and achieve the carbon neutralization. The main novelty of this study is developing a new partnership comprised by the green energy investment company (GEIC), solar power plant (SPP), and offshore wind power plant (OWPP) and analyzing the impacts of typical factors on the coordinated development of SPP and OWPP based on the evolutionary game theoretical method. By using a tripartite evolutionary game model, the stability analysis of equilibrium strategy is carried out. The simulation results show that stable states could be realized under different partnerships. Impact investigation results of typical influential factors on all participants indicate that longer annual operation time, higher price of electricity sold to the power grid, and larger government subsidy will lead to more incomes for the SPP and OWPP, which will strengthen the participation willingness of all participants. For this study, the on-grid price of the SPP should be greater than 0.054 $/kWh. A reasonable investment ratio of the SPP and OWPP is the guarantee for the smooth development of the PPP project, which is suggested to be 4:6 in this study. The results of the current study have certain reference value for the policy and strategy formulations for facilitating the developments of solar PV power and offshore wind power generations.