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| Title: | 再生能源憑證市場定價分析：以台灣市場為例
Pricing Renewable Energy Certificate: Evidence from Taiwan Market ( T-REC ) |
| Authors: | 黃品誠
Huang, Pin-Cheng |
| Contributors: | 林士貴
羅秉政
Lin, Shih-Kuei
Kendro Vincent
黃品誠
Huang, Pin-Cheng |
| Keywords: | 再生能源憑證
綠色憑證
太陽能發電
市場結清
Renewable energy certificates
Green certificates
Solar generation
Market clearing |
| Date: | 2023 |
| Issue Date: | 2023-08-02 14:11:20 (UTC+8) |
| Abstract: | 我國經由《再生能源發展條例》的修訂，正式推出「用電大戶條款」發展再生能源憑證市場，然而特殊的市場設計使得用電大戶成為潛在的再生能源憑證供給方，而能源憑證的供給又和系統發電量密不可分。因此本文的貢獻在於發展包含日照時數及模組溫度兩實質因子的發電量模型，透過季節性均數、變異數之均數復歸過程 (mean-reverting process with seasonal mean and variance，MR-SM-SV) 使模型能夠捕捉到季節性的變化，並透過與歷史發電量比較，確認模型能夠捕捉歷史趨勢且長期下優於過往文獻使用之發電量模型。進而推導出用電大戶在效用極大化條件下，配置於購買灰電、再生能源及設置再生能源系統的最適比例，並在納入灰電及再生能源生產商利潤最大化條件下，考量市場結清條件推導出再生能源憑證及能源價格間的關係式，以期能夠增加市場資訊透明度，促進市場交易活絡及合理評估發電系統價值，進而推動永續能源市場發展並接軌國際。
Under the revision of our country`s energy regulations, the " Energy-heavy Industries terms" has been officially introduced to develop the renewable energy certificate market. However, the special market design makes energy-heavy industries become potential suppliers of renewable energy certificates, and the supply of energy certificates is inextricably linked with system power generation. Therefore, the contribution of this paper is to develop a generation model that includes two real factors: sunshine hours and module temperature, and through the mean-reverting process with seasonal mean and variance (MR-SM-SV), the model will be able to capture seasonal variation and compare with historical generation to confirm that it is realistic and better than the generation models used in the past literature.
Furthermore, this study derives the optimal proportion for energy-heavy industries to allocate towards purchasing conventional electricity, renewable energy, and setting up renewable energy systems under the condition of utility maximization. Additionally, considering the maximization of profits for conventional and renewable energy producers, along with market clearing conditions, the relationship between renewable energy certificates and energy prices is derived. This aims to increase market transparency, promote active market trading, and facilitate a fair assessment of the value of power generation systems. Ultimately, these efforts aim to drive the development of the sustainable energy market and align it with international standards. |
| Reference: | 1. 陳膺仁（2022）。台灣再生能源憑證交易政策之探討〔未出版之碩士論文〕。國立成功大學財務金融研究所。
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| Description: | 碩士
國立政治大學
金融學系
110352027 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110352027 |
| Data Type: | thesis |
| Appears in Collections: | [金融學系] 學位論文
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