Heterogeneity analysis: fuel and electricity generation technology
| Variable | Coal-powered plants | Gas-powered plants | ||||||
|---|---|---|---|---|---|---|---|---|
| Full sample | Subcritical technology | Ultracritical technology | ||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
| CO2 | PM2.5 | CO2 | PM2.5 | CO2 | PM2.5 | CO2 | PM2.5 | |
| policy × pilot | −0.024*** (−6.983) | −0.094*** (−9.840) | −0.022*** (−5.810) | −0.103*** (−7.568) | −0.019 (−1.584) | −0.026 (−0.668) | −0.004 (−0.192) | −0.001 (−0.015) |
| capacity | 0.020*** (50.133) | 0.006*** (8.405) | 0.021*** (53.581) | 0.007*** (9.134) | 0.010*** (29.283) | 0.004*** (5.815) | 0.048*** (56.259) | 0.008** (2.632) |
| greenfin | 0.001 (0.582) | −0.102** (−3.164) | −0.005 (−1.351) | −0.105** (−2.988) | 0.021 (1.666) | −0.186*** (−4.144) | −0.015 (−1.304) | 0.030 (1.220) |
| ven | −0.047 (−1.152) | 0.046 (0.627) | −0.043 (−1.129) | 0.023 (0.334) | −0.100 (−1.260) | −0.280 (−1.586) | −0.013 (−0.373) | 0.326** (2.876) |
| rd_gdp | −0.004 (−1.067) | −0.215*** (−5.561) | −0.002 (−0.524) | −0.206*** (−5.094) | 0.003 (0.235) | 0.088 (0.772) | 0.032 (1.606) | −0.206*** (−3.961) |
| Plant FE | Y | Y | Y | Y | Y | Y | Y | Y |
| Year FE | Y | Y | Y | Y | Y | Y | Y | Y |
| N | 1010 | 1010 | 810 | 810 | 90 | 90 | 90 | 90 |
| r2 | 0.974 | 0.976 | 0.972 | 0.799 | 0.992 | 0.913 | 0.978 | 0.869 |
| Variable | Coal-powered plants | Gas-powered plants | ||||||
|---|---|---|---|---|---|---|---|---|
| Full sample | Subcritical technology | Ultracritical technology | ||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | |
| CO2 | PM2.5 | CO2 | PM2.5 | CO2 | PM2.5 | CO2 | PM2.5 | |
| −0.024 | −0.094 | −0.022 | −0.103 | −0.019 (−1.584) | −0.026 (−0.668) | −0.004 (−0.192) | −0.001 (−0.015) | |
| 0.020 | 0.006 | 0.021 | 0.007 | 0.010 | 0.004 | 0.048 | 0.008 | |
| 0.001 (0.582) | −0.102 | −0.005 (−1.351) | −0.105 | 0.021 (1.666) | −0.186 | −0.015 (−1.304) | 0.030 (1.220) | |
| −0.047 (−1.152) | 0.046 (0.627) | −0.043 (−1.129) | 0.023 (0.334) | −0.100 (−1.260) | −0.280 (−1.586) | −0.013 (−0.373) | 0.326 | |
| −0.004 (−1.067) | −0.215 | −0.002 (−0.524) | −0.206 | 0.003 (0.235) | 0.088 (0.772) | 0.032 (1.606) | −0.206 | |
| Plant FE | Y | Y | Y | Y | Y | Y | Y | Y |
| Year FE | Y | Y | Y | Y | Y | Y | Y | Y |
| 1010 | 1010 | 810 | 810 | 90 | 90 | 90 | 90 | |
| r2 | 0.974 | 0.976 | 0.972 | 0.799 | 0.992 | 0.913 | 0.978 | 0.869 |
Notes:
t-values in brackets; models are estimated with Driscoll–Kray errors; **significant at 5%, ***significant at 1%, power plants with technology marked as “unknown” in database are excluded from technology heterogeneity analysis
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