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With the goal of achieving "carbon peak in 2030 and carbon neutrality in 2060", as clearly proposed by China, the transportation sector will face long–term pressure on carbon emissions, and the application of hydrogen fuel cell vehicles will usher in a rapid growth period. However, true "zero carbon" emissions cannot be separated from "green hydrogen". Therefore, it is of practical significance to explore the feasibility of renewable energy hydrogen production in the context of hydrogen refueling stations, especially photovoltaic hydrogen production, which is applied to hydrogen refueling stations (hereinafter referred to "photovoltaic hydrogen refueling stations"). This paper takes a hydrogen refueling station in Shanghai with a supply capacity of 500 kg/day as the research object. Based on a characteristic analysis of the hydrogen demand of the hydrogen refueling station throughout the day, this paper studies and analyzes the system configuration, operation strategy, environmental effects, and economics of the photovoltaic hydrogen refueling station. It is estimated that when the hydrogen price is no less than 6.23 USD, the photovoltaic hydrogen refueling station has good economic benefits. Additionally, compared with the conventional hydrogen refueling station, it can reduce carbon emissions by approximately 1237.28 tons per year, with good environmental benefits. [ABSTRACT FROM AUTHOR]

With the continuous increase of China's foreign-trade dependence on crude oil and the accelerating integration of the international crude oil market and the Chinese finance market, the spillover effect of international oil price fluctuation on China's stock markets increasingly attracts the attention of the public. In order to explore the impact of international oil price fluctuation on China's stock markets and the time-varying spillover differences of industry sectors, this study proposes three research hypotheses and constructs a multi-time scale analysis framework based on wavelet analysis and a time-varying t-Copula model. In this paper, we use the Shanghai Composite Index as the representative of a general trend of the stock market, and we use the stock index of the China Securities Industry as the counterpart of industrial sectors. Based on the data from 5 January 2005 to 31 May 2020, this paper measures and analyzes the spillover effect of international oil price fluctuation on China's stock markets, under different volatility periods. The results show that, firstly, the spillover effect of international oil price fluctuation on the Chinese stock markets is different. In the short and medium volatility period, the changes in international oil price are ahead of the changes in the Chinese stock markets, while the latter is ahead of the former under long-term fluctuations. Secondly, the spillover effect of international oil price fluctuation on China's industry stock indexes is persistent. As the time scale increases, the tail dependency will increase. Finally, the impact of risk events aggravates the volatility of the stock markets in the short-term, while the mid- to long-term impact mainly affects the volatility trend. Investment risk control can make overall arrangement on the basis of the characteristics of oil price impact under different fluctuation stages. [ABSTRACT FROM AUTHOR]