Towards carbon neutrality: A dynamic game approach replacing fossil energy with new marine energy

Abstract

Based on the dynamic game perspective, this paper establishes a duopoly energy manufacturer substitution game model to explore whether the replacement of traditional fossil energy by marine new energy can reduce carbon emissions and effectively promote carbon neutrality. The results of the study found that the energy output growth rate of new marine energy will increase, and that of traditional fossil energy manufacturers decreases gradually in the game of new marine energy to conventional fossil energy. Research shows that the new marine energy is re-placing the traditional fossil energy, and the total output growth rate of the energy market depends on the technology accumulation and market game effect in this alternative process. Also, it is positive and keeps increasing in the alternative rate of new marine energy to traditional fossil energy. Furthermore, the substitution factor and discount factor positively affect the energy substitution rate. However, the depreciation rate has the opposite effect, and the market scale has no effect on the rate of new marine energy. In the process of marine new energy substitution, there is always a steady-state path that tends to the saddle point equilibrium. The improvement of technology R&D input efficiency is conducive to new energy substitution, reducing the use of fossil energy, and contributing to the realization of carbon neutrality.