The energy-saving effect of green fiscal policy: Empirical evidence from China's comprehensive demonstration cities of energy conservation and emission reduction fiscal policy

IF 10.1 1区工程技术 Q1 ENERGY & FUELS

Applied Energy Pub Date : 2024-10-30 DOI:10.1016/j.apenergy.2024.124784

Yicheng Zhou , Boqiang Lin

{"title":"The energy-saving effect of green fiscal policy: Empirical evidence from China's comprehensive demonstration cities of energy conservation and emission reduction fiscal policy","authors":"Yicheng Zhou , Boqiang Lin","doi":"10.1016/j.apenergy.2024.124784","DOIUrl":null,"url":null,"abstract":"<div><div>Fiscal policy is a crucial tool to achieve energy conservation and emission reduction (ECER), and can provide necessary fiscal support for the green economic transformation. This paper systematically discusses the influencing mechanism of green fiscal policy (GFP) on electricity consumption, and then constructs a time-varying difference-in-difference (DID) model based on the quasi-natural experiment of comprehensive demonstration cities of energy conservation and emission reduction fiscal policy (ECERFP), and empirically tests the relationship between GFP and urban electricity consumption by combining urban panel data. The results show that ECERFP can not only significantly reduce urban electricity consumption directly, but also reduce urban electricity consumption through industrial structure upgrading, public transportation development and green technological innovation. Meanwhile, economic growth targets and fiscal decentralization can regulate the energy-saving effect of ECERFP. Specifically, fiscal decentralization can enhance the energy-saving effect of ECERFP, but the economic growth targets are not conducive to exerting the energy-saving effect of ECERFP. More importantly, there is the urban heterogeneity impact of ECERFP on urban electricity consumption. In the east, west, big cities and developed cities, the energy-saving effect of ECERFP is more obvious. In addition, ECERFP can reduce electricity consumption not only in the industrial sector, but also in the household sector. The findings present empirical evidence for the application of GFP in ECER.</div></div>","PeriodicalId":246,"journal":{"name":"Applied Energy","volume":"378 ","pages":"Article 124784"},"PeriodicalIF":10.1000,"publicationDate":"2024-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Energy","FirstCategoryId":"5","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0306261924021676","RegionNum":1,"RegionCategory":"工程技术","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ENERGY & FUELS","Score":null,"Total":0}

引用次数: 0

Abstract

Fiscal policy is a crucial tool to achieve energy conservation and emission reduction (ECER), and can provide necessary fiscal support for the green economic transformation. This paper systematically discusses the influencing mechanism of green fiscal policy (GFP) on electricity consumption, and then constructs a time-varying difference-in-difference (DID) model based on the quasi-natural experiment of comprehensive demonstration cities of energy conservation and emission reduction fiscal policy (ECERFP), and empirically tests the relationship between GFP and urban electricity consumption by combining urban panel data. The results show that ECERFP can not only significantly reduce urban electricity consumption directly, but also reduce urban electricity consumption through industrial structure upgrading, public transportation development and green technological innovation. Meanwhile, economic growth targets and fiscal decentralization can regulate the energy-saving effect of ECERFP. Specifically, fiscal decentralization can enhance the energy-saving effect of ECERFP, but the economic growth targets are not conducive to exerting the energy-saving effect of ECERFP. More importantly, there is the urban heterogeneity impact of ECERFP on urban electricity consumption. In the east, west, big cities and developed cities, the energy-saving effect of ECERFP is more obvious. In addition, ECERFP can reduce electricity consumption not only in the industrial sector, but also in the household sector. The findings present empirical evidence for the application of GFP in ECER.

查看原文本刊更多论文

绿色财政政策的节能效应：中国节能减排财政政策综合示范城市的经验证据

财政政策是实现节能减排（ECER）的重要工具，可以为绿色经济转型提供必要的财政支持。本文系统论述了绿色财政政策（GFP）对用电量的影响机制，并基于节能减排财政政策综合示范城市（ECERFP）的准自然实验，构建了时变差分（DID）模型，结合城市面板数据，实证检验了绿色财政政策与城市用电量之间的关系。结果表明，ECERFP 不仅能直接显著降低城市用电量，还能通过产业结构升级、公共交通发展和绿色技术创新等途径降低城市用电量。同时，经济增长目标和财政分权可以调节 ECERFP 的节能效果。具体而言，财政分权可以增强 ECERFP 的节能效果，但经济增长目标不利于发挥 ECERFP 的节能效果。更重要的是，ECERFP 对城市用电的影响存在城市异质性。在东部、西部、大城市和发达城市，ECERFP 的节能效果更为明显。此外，ECERFP 不仅能降低工业部门的用电量，还能降低家庭部门的用电量。研究结果为 GFP 在 ECER 中的应用提供了经验证据。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Applied Energy 工程技术-工程：化工

CiteScore

21.20

自引率

10.70%

发文量

1830

审稿时长

41 days

期刊介绍： Applied Energy serves as a platform for sharing innovations, research, development, and demonstrations in energy conversion, conservation, and sustainable energy systems. The journal covers topics such as optimal energy resource use, environmental pollutant mitigation, and energy process analysis. It welcomes original papers, review articles, technical notes, and letters to the editor. Authors are encouraged to submit manuscripts that bridge the gap between research, development, and implementation. The journal addresses a wide spectrum of topics, including fossil and renewable energy technologies, energy economics, and environmental impacts. Applied Energy also explores modeling and forecasting, conservation strategies, and the social and economic implications of energy policies, including climate change mitigation. It is complemented by the open-access journal Advances in Applied Energy.