Impact of Generation Companies’ Heterogeneous Investment Behaviors on the Effects of Non-fossil Energy Incentive Policies

The incentive policies for non-fossil energy are important factors affecting the investment behavior of generation companies (GENCOs). However, the investment behavior of different types of GENCOs in the system could be quite different, so the implementation of the policy must consider how to achieve incentive compatibility with the investment behavior of GENCOs. This article constructs a power transition simulation model that considers the investment behavior of GENCOs. Taking the wind power feed-in tariff policy as an example, it analyzes the impact of policy on the whole system’s low carbon transition pathway of the power structure and the evolution trajectory of system carbon emissions under different behavior scenarios.