Emissions Reductions and Economic Feasibility of China's Solar Thermal Power Industry After the Introduction of Chinese Certified Emission Reduction Policy

ABSTRACT To promote the development of renewable energy, China re‐implemented the Chinese Certified Emission Reduction (CCER) policy in 2023. This study explores certificated CO 2 and air pollutants (i.e., NO x , SO 2 and particulate matter (PM)) emissions reductions from China's solar thermal power (STP) industry at national scale and conducts the comprehensive cost‐benefit analysis with consideration of CCER policy. We find that: (1) generally, STP‐related emissions reductions and associated benefits from CCER revenue have followed and will continue to present an upward tendency; however, the STP industry would turn to be not economic feasible in 2025, due to the renewable energy subsidies cancellation. (2) From a spatial perspective, STP‐related emissions reductions are highly concentrated in the northwest region. (3) Among species, NO x makes the largest contribution to STP‐related air pollutants emissions reductions and the associated co‐benefits, while PM makes the least. (4) As for policy implication, CCER policy should be carefully designed and dynamically adjusted together with other additional policies, and thus further facilitates the development of the STP industry.