Optimal Allocation Of Low-carbon Technology Investment Research Based On Rebound Effect

With the increasing global consumption of fossil fuels,large amounts of carbon dioxide emissions have had a certain impact on the global ecosystem.The Paris Agreement calls for a global response to climate warming.As the largest developing country and carbon dioxide emitter,China is facing great pressure from the international community.Therefore,the effect of various carbon emission reduction measures,investment and financing design and other issues are very hot in academic research.Low-carbon technology investment which can improve the efficiency of energy utilization and reduce the carbon intensity per unit of GDP,is one of the important policy tool of energy conservation and emissions reduction.Energy rebound effect means that energy conservation and emissions reduction brought by the low-carbon technological progress will be offset partly or all.So to make effective low-carbon investment strategy,it need to be based on the rebound effect to consider the influence factors of low-carbon technology investment.The content of this article can be divided into the following four categories:national or multinational,low-carbon technology investment exogenous or endogenous.The article consider the trade between countries and the energy consumption influence on social welfare on the basis of predecessors' research.It focuses on the elasticity of energy consumption w.r.t low-carbon investment under the condition of fixed energy.And then we make a numerical simulation and sensitivity analysis of the influence factors.Finally it comes to the following conclusions:(1)in the situation of low-carbon technology investment exogenous in one country,fuel conservation on the sensitivity of the output elasticity of capital and energy are both small,and the utility elasticity of substitution is small,fuel conservation on the sensitivity of the utility elasticity of substitution is larger,and with the increase of the utility elasticity of substitution,fuel conservation on the sensitivity of the smaller;(2)in the circumstances of low-carbon technology investment endogenous in one country,for the proportion of low-carbon investment and output elasticity of low-carbon investment,fuel conservation is of low sensitivity to both;(3)in the situation of low-carbon technology investment exogenous in two countries,fuel conservation is sensitive to energy supply elasticity and the more energy elasticity of supply is close to 0,the more sensitive.Fuel conservation on the sensitivity of the utility elasticity of substitution is large,while sensitivity of energy import ratio is small;(4)in the situation of low-carbon technology investment exogenous in two countries,fuel conservation elasticity of low-carbon investment is sensitive to energy import ratio and the proportion of low-carbon investment.