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With a global electricity market, China would be incentivized to be a net exporter since they have relaxed emissions regulations. Perhaps other developing countries would also have incentive to be an electricity exporter since their pollution allowances would permit it.
On the other hand, perhaps exporting excess renewable electricity will make it more price competitive. Rather than dispatchable supply (generate the electricity demanded), we would have dispatchable demand (generate the demand given the supply). This could result in a net "greening". Hard to say if it would be a net reduction or increase in CO2.
How about tapping into Iceland's geothermal electricity?
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