Many countries have employed various policy measures to reduce industrial CO₂ emissions. The cement industry plays a crucial role in emissions reduction because it accounts for a substantial proportion of global emissions. This study analyzes the inter-fuel substitution paths for the cement industry, along with its impacts on emissions reduction. A mixed multiple discrete-continuous extreme value (MDCEV) model is used to accommodate for the heterogeneity of firms’ preferences for fuel mixes. The proposed model is empirically verified using firm-level data collected from 1998 to 2011 for Korean cement production firms. The results show that firms’ marginal utilities from using bituminous coal are still larger than those from other alternative fuels. The determinants of the firms’ alternative fuel choices are different according to the individual fuel types, but the price of bituminous coal has a primary impact, generally speaking. Scenario analysis shows that 10% and 20% increases in bituminous coal prices will lead to roughly 1.30 million and 1.58 million tons of CO₂ reduction for the Korean cement industry, respectively. This study analyzes the selection and consumption patterns according to fuel types among cement producers, and also predicts its impacts on emissions reduction. Further, our study also provides policy implications for the government, which plays a crucial role in designing incentives for firms to use alternative fuels more often.

许多国家采取了各种政策措施来减少工业CO ₂排放。水泥行业在减少排放中起着至关重要的作用，因为它占全球排放量的很大一部分。这项研究分析了水泥行业的燃料间替代途径，以及其对减排的影响。混合多重离散连续极值（MDCEV）模型用于适应公司对燃料混合物的偏好的异质性。使用从1998年至2011年收集的韩国水泥生产企业的企业级数据，对所提出的模型进行了实证验证。结果表明，企业使用烟煤的边际效用仍比其他替代燃料的边际效用大。企业选择替代燃料的决定因素根据不同的燃料类型而有所不同，但是烟煤的价格具有主要影响，通常来说，一般来说。方案分析显示，烟煤价格上涨10％和20％将导致大约130万吨和158万吨二氧化碳₂分别为韩国水泥行业减产。这项研究根据水泥生产商中的燃料类型分析了选择和消耗方式，并预测了其对减排的影响。此外，我们的研究还为政府提供了政策影响，政府在设计激励措施中鼓励企业更频繁地使用替代燃料起着至关重要的作用。