| In the context of global warming,as the largest energy consumer and CO2 emitter,China is confronted with intense pressure of energy-saving and greenhouse emissions reduction.With the augment of income level and the acceleration of urbanization,residential sector has experienced rapid growth in energy consumption and CO2 discharge.Thus,energy-saving and CO2 mitigation in residential sector play a pivotal role in the transition of energy system and the achievement of national energy-saving and greenhouse emissions reduction targets.The research concerning household energy-using behavior and energy-saving and CO2 reduction policies lays scientific basis for nudging household energy-saving and CO2 mitigation.Starting with two modular of energy-saving and CO2 mitigation,the paper combines qualitative and quantitative study means to conduct four parts of research in terms of household preference for energy-saving measures,household electricity-using behavioral characteristics,co-benefit of household energy-saving and CO2 mitigation,and the impact of carbon market design on carbon price dynamics from both the micro and macro perspectives;evaluate the effectiveness and practicability of existing and promising policies and provide reference for policy making and implementation.Five main research parts of the paper are as follows.Firstly,the first-hand data documenting household energy use has been collected by the means of survey.Taking energy-saving measures as the carrier,we qualitatively analyze the usage status quo of household representative energy-saving measures,reasons of and barriers to adopting energy-saving measures;quantitatively study determinants,especially policy factors,that affect household preference for energy-saving measures.The impact mechanism of relevant policies on household energy-saving preferences has been examined and the effectiveness of existing or promising policies has been evaluated.Secondly,the analytical frame that is extensively used in marketing studies to study consumer preference for goods has been applied to energy research area.The utility for attributes of energy-saving measures and heterogeneous preferences for energy-saving measures among different household groups have been unveiled.Targeting at household preferences,possible policy and measures are discussed.In addition,annual energy-saving amounts for 24 measures have been calculated for the first time,which provides valuable reference for future research.Thirdly,considering the electricity consumption difference between the short and long term,we employ panel and time-series partial adjustment models to portray the price elasticity,income elasticity and cross-price elasticity of household electricity demand.By introducing instrument variable estimation technique,the issue that electricity marginal price and electricity consumption are determined simultaneously in the period of implementing increasing-block electricity price scheme has been addressed.Further,the seasonal characteristics of household electricity demand,the effectiveness of increasing-block electricity pricing policy,and alternative policies that stimulate household electricity saving have been analyzed.Fourthly,the co-benefit of household energy-saving and CO2 mitigation are analyzed qualitatively.We study how household energy-saving makes for CO2 mitigation and how carbon reduction policy instruments makes for household energy-saving,especially how carbon price dynamics affect household energy use and CO2 emissions.Based on the analysis,the following part conducts the study of the impact of carbon market design on carbon price dynamics.Lastly,after figuring out how carbon market can make for household energy-saving and CO2 mitigation,this part take European Union emissions trading scheme(EU ETS)for instance,study the impact of carbon market regulatory institutions on carbon price dynamics.For one thing,we propose event impact process modeling method with bilaterally modified dummy variable to model the impact process of verified emissions announcements in the EU ETS on carbon price.For another,the regulatory evolution events since the start of the EU ETS have been summarized for the first time.We qualitatively analyze the impact mechanisms of different type of regulatory events on the EU ETS and quantitatively study the impact of regulatory events on carbon price returns by using event study method.The mechanism design in carbon market has been discussed,which not only provides reference for national carbon market construction in China but also lays foundation to further study how carbon price dynamics affect household energy-saving and CO2 mitigation.Based on the research above,we conclude as follows.Firstly,financial incentive(or saving money)and the desire to reduce energy consumption are the most important factors driving the public to adopt the measures and that the unavailability of the electric vehicle(EV)charger is an important barrier to the promotion of EVs.Renters or individuals with a high risk preference have a lower willingness to accept energy-efficient air conditioners.The price of gasoline,convenience of the EV charger,EV policy package,and environmental concern can significantly influence the willingness to purchase an EV.The influence of surrounding individuals(spillover effect)significantly increases the preference for closing windows when the heating is on.Price policies and preferential policies related to the EV could have a significant impact on household choice of transportation mode.Finally,increasing the public energy-saving awareness and environmental concern is recommended to facilitate the promotion of energy-saving options.Secondly,energy-saving measures are relatively highly acceptable overall,while technical energy-saving measures are almost the least acceptable.The energy-saving domain(home versus transport)is the most important attribute that determines the acceptance level.Home and behavioral energy-saving measures are preferred to transport and technical energy-saving measures,respectively.Publicity about energy-saving measures contributes to improving residents' familiarity with these measures and environmental concern.Customized incentive policies are in fact more effective.Thirdly,income and seasonality constitute the important drivers of household electricity demand.Generally,the increase in electricity demand from cooling outweighs that from heating.In the circumstance that electricity price is under strict control,the channel that price affect electricity demand is not clear and the effect of increasing-block pricing policy is weak.Based on the cross-impact channel between electricity market and natural gas market,the price policy of pipeline natural gas constitutes an alternative to adjust household electricity demand.Fourthly,there is obvious co-benefit between household energy use and CO2 mitigation.Residents adopt energy-saving measures and change energy-use behavior can reduce CO2 emissions meanwhile.In the context of national carbon market in China and the liberalization reform of electricity market,carbon cost would be passed through by electricity producers to household consumers,which adjusts household electricity consumption and CO2 mitigation.Lastly,as an information disclosure institution,verified emissions announcements in the EU ETS indeed helps to promote price discovery.However,it may also engender shocks in the carbon market and bring about the risk of information leakage.There is an obvious asymmetry between ex-ante and ex-post impacts and it generally takes more than seven days to absorb the ex-post impacts.The construction of carbon market is a learning-by-doing process and needs consistent regulatory updates in order to deliver optimal effects.The evaluation of cap set institution,compliance mechanism and inter-banking mechanism in the EU ETS provides valuable reference for the construction of national carbon market in China and quotas management. |
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