Fossil fuel and renewable energy allocation policy toward carbon neutrality under climate change

Abstract

Climate change is increasing owing to the frequency and intensity of extreme weather events caused by greenhouse gas (GHG) emissions mainly due to anthropogenic activities. In recent years, many countries have set goals to decrease GHG emissions and achieve carbon neutrality while maintaining their economic situation. The purpose of this study is to determine the optimal policy for fossil fuels and renewable energy allocation, which could decrease GHG emissions and maintain the economic situation in Taiwan until 2030. The results show that renewable energy rapidly increased to 5.8 billion kWh, and natural gas increased to 54 million m3 when energy consumption was maintained for the values in 2020. Greenhouse gas emissions in 2030 are expected to decrease to 20% of the value in 2005. Finally, the Taiwanese government should consider the allocation of fossil fuels and renewable energy with linear growth in energy consumption and achieve the goals of carbon emission reduction.