Development of a Multi‐Region Power System Risk Management Model for Supporting China's Carbon Neutrality Ambition in 2060s

Abstract In order to peak emissions before 2030 and to achieve the net‐zero ambition around 2060, China urgently needs to accelerate low‐carbon transition, especially in the power system. Previous studies were mainly focused on deterministic optimization, with some of them being followed by sensitivity analyses. To tackle the gaps and to support the net‐zero ambition, this study develops a multi‐region power system risk management (MPRM) model …