To obtain the price return and price volatility spillovers between renewable energy stocks, technology stocks, oil futures and carbon allowances under different investment horizons, this paper employs a frequency-dependent method to study the dynamic connectedness between these assets in four frequency bands. The results show that, first, there is a strong spillover effect between these assets from a system-wide perspective, and it’s mainly driven by short-term spillovers. Second, in the time domain, technology stocks have a more significant impact on renewable energy stocks compared to crude oil. However, through the study in the frequency domain, we find renewable energy stocks exhibit a more complex relationship with the other two assets at different time scales. Third, renewable energy stocks have significant spillover effect on carbon prices only in the short term. On longer time scales, other factors such as energy prices, climate and policy may have a greater impact on carbon allowance prices. Fourth, the spillover effect of the system is time-varying and frequency-varying. During the European debt crisis, the international oil price decline and the COVID-19 pandemic, the total spillover index of the system has experienced a substantial increase, mainly driven by medium, medium to long or long term spillovers.

As the largest emitter of carbon dioxide all over the world, China requires a rapid breakthrough and large-scale commercial application of carbon capture, utilization and sequestration (CCUS) technology to achieve the 2060 carbon neutrality target. However, the process of CCUS technology commercialization in China is quite slow. Firstly, an obstacle system with 15 factors is established based on a literature review and expert consultation, namely on economic, technical, political, market, and social obstacles. Secondly, taking into account the uncertainty and randomness inherent in subjective judgment, Vague set is introduced for the first time to improve the DEMATEL-ANP (DANP) method in order to analyze comprehensive importance and causal relationship of obstacles. According to the study, in advancing CCUS’s commercialization in China, economic obstacles are simply the tip of the iceberg, with the deeper reasons rooted in political obstacles. Specifically, seven critical obstacles are lack of standards and regulations, inadequate legal and regulatory framework, insufficient incentive policies, limited carbon dioxide conversion efficiency, high energy consumption, low rate of return on investments and low investment enthusiasm of enterprise. We conclude with a series of recommendations to address these obstacles, and these findings can be used as a guide for government regulation and business practice.

Power grid investment behavior (PGIB) is a necessary prerequisite to ensure safe and reliable power supply. The supervision of PGIB is an important measure to reduce electricity price. It helps to release the dividends of the new power system reform and promote the sustainable development of the power industry. However, for a long time, China’s regulation of PGIB was relatively weak, lacking clear supervision awareness and effective supervision methods. On the basis of clarifying the contents of PGIB supervision, this paper establishes an evaluation index system for the compliance of PGIB from the government supervision perspective, involving four dimensions and 14 secondary indicators. Furthermore, a hybrid evaluation model based on the combined decision-making trial and evaluation laboratory method (DEMATEL-ANP), analytical network process method, and vague set is proposed. The results reveal that the control over cost and efficiency of the PGIB in China is not enough. According to the results, this paper puts forward the indicators that close attention should be paid to and the work priorities in China’s supervision of PGIB, which has certain practical value for the implementation of new power system reform and the sustainable development of Chinese power industry.

Near-zero carbon emission power (NZCEP) plants, consisting of gas-fired units; wind turbines; power-to-gas (P2G); and carbon capture, utilization and storage (CCUS) systems, have recently received a lot of attention due to their enormous benefits in reducing carbon emissions and increasing the consumption of renewable energy. However, a complex environment of interest and a combination of risks makes their development very slow. This paper establishes a risk analysis framework for NZCEP considering multi-stakeholder participation. Firstly, a synthetic risk factor system was constructed based on stakeholders’ interests. Subsequently, interval type II trapezoidal fuzzy numbers were used and final weights were calculated from both subjective and objective aspects. Finally, we applied an acronym in Portuguese of the interactive and multi-criteria decision-making (TODIM) method to site selection to achieve a balance of interests of all stakeholders. In addition, a case study was conducted. The case result demonstrates that Zhengzhou in Henan Province is the best choice for a NZCEP power plant. A further finding is that government plays an important role in the development of NZCEP plants, with site selection results being the most sensitive to changes in the government’s risk appetite. Moreover, human resources are an important factor in the siting of an NZCEP plant.

In recent years, the microgrid system (MGS) has become an important method for the consumption of renewable energy sources (RES). In the actual operation process, the uncertainties of RES add to the complexity of the MGS operation. Furthermore, the MGS is often operated by multiple subsystem operators. The benefit distribution among subsystem operators is an important factor affecting the overall stable operation of the MGS. In order to resist the interference of the above factors, a two-stage optimization method is proposed in this paper, which includes a bi-level robust optimization (BRO) model in the overall scheduling stage of the MGS and a nucleolus-based cooperative game (NCG) model in the internal cost allocation stage among the subsystem operators. The simulations demonstrated the following outcomes: (1) the P2G device can reduce the operating cost of the MGS by converting electricity into natural gas when the electricity price is low; (2) the two-stage optimization method can ensure the stable operation of the MGS by resisting the disturbance of uncertain wind power outputs in the overall scheduling stage and realizing a reasonable cost allocation among the subsystem operators in the internal cost allocation stage.