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What does clean energy attract? Evidence from the transfer structure of energy-intensive projects in China

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  • Zhang, Qianxiang
  • Lin, Boqiang

Abstract

The transfer of energy-intensive projects to areas abundant in clean energy resources holds promise for optimizing the energy structure. After obtaining specific information on transferred projects of listed energy-intensive firms through search or phone contact, this paper innovatively constructs a three-dimensional panel containing 1,859,220 observations to empirically examine the attraction of clean energy to energy-intensive projects under the carbon intensity constraint policy (CICP). Our findings reveal that: (1) the CICP promotes the transfer of gray energy-intensive projects, leading to the transfer structure trending towards graying. (2) Furthermore, we observe a positive correlation between the proportion of thermal power in transfer-out areas and the outflow of gray energy-intensive projects. Conversely, areas with higher wind power and photovoltaics attract a greater inflow of gray energy-intensive projects. (3) Notably, clean energy predominantly attracts the inflow of gray projects rather than green projects. Our findings provide micro evidence and valuable insights into the transfer of energy-intensive industries, informing the design and implementation of future environmental policies for policymakers and stakeholders.

Suggested Citation

  • Zhang, Qianxiang & Lin, Boqiang, 2024. "What does clean energy attract? Evidence from the transfer structure of energy-intensive projects in China," Renewable Energy, Elsevier, vol. 228(C).
    • Handle: RePEc:eee:renene:v:228:y:2024:i:c:s0960148124007109
    DOI: 10.1016/j.renene.2024.120642
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