Impacts of emission trading on Carbon, Electricity and Renewable Markets: A review

Electricity supply industry worldwide has been identified as a major source of greenhouse gas emissions. Consequently, many countries have started to implement emission trading schemes (ETS). Separate and evolving public policy debates are shaping Electricity Market, Carbon Market, and Renewable Market without attention to how each market affects the others, yet the markets have overlapping goals with respect to the global economical and environmental benefits. Therefore, this paper conducts a comprehensive review to shed some lights on the future study of ETS. Focuses have been put on features of ETS and how it impacts on the three interactive markets.