Renewable energy information green certificate covers all new policies

It is of great significance for promoting coordinated regional development

Green certificate is an electronic certificate issued by the state with a unique identification code for renewable energy power, which fully reflects the positive externality of renewable energy, represents the environmental attributes of renewable energy power, and is also an international practice. China implemented the green certificate system in 2017, and initially promoted the formation of a good consensus on green electricity consumption in the whole society.

Driven by policy mechanisms such as electricity price subsidies, market allocation of resources, and consumption guarantee mechanisms, China's renewable energy has developed rapidly in recent years and has entered a new stage of high-quality development. The rapid development of renewable energy has promoted the innovation of China's green certificate system, and the "Notice" will expand the coverage of green certificate from the original onshore wind power and photovoltaic power generation to all renewable energy power generation projects, giving full consideration to the connection with important policy mechanisms such as accounting for renewable energy consumption and carbon markets, which is an institutional innovation that promotes the use of institutional synergy with systematic thinking.

There are great regional differences in China, and the imbalance between provincial and regional development is prominent. Perfecting the green certificate system is of great significance to promoting mutual aid among provinces and coordinating regional development. In 2022, for example, Heilongjiang, Jilin, Xinjiang, Hebei and other regions have sufficient scenery resources, and the green certificates issued by the four provinces (autonomous regions) account for about 42% of the country, but the total GDP of the four provinces is less than 70% of that of Guangdong alone. Guangdong Province realizes its own green electricity consumption through the purchase of green certificates, and the purchased funds are mainly used for wind and light power generation projects in Jilin, Heilongjiang, Hebei, Liaoning and other provinces to promote the development of economically underdeveloped areas and realize the cross-provincial and cross-regional flow of green economy. This notice issues green certificates for all renewable energy projects, and at the same time regulates the green certificate separate transaction and green electricity transaction (that is, green certificate and physical power bundle transaction), expands the green certificate application scenarios, encourages the social energy use units to take the initiative to assume the social responsibility of renewable energy electricity consumption, will further expand the national green certificate trading market, and enhance the level of green electricity consumption in the whole society. The national unified green certificate system is used to realize the large-scale circulation of green value and promote the optimal allocation of resources nationwide.

Do a good job of full coverage of green cards is

Give full play to policy synergy

Promote the innovation of statistical accounting system

China's green certificate system has designed a tracking mechanism for the full life cycle of green electricity certificates, which takes the unique number of the certificate as a clue to record the full life cycle information of green certificates from production, transaction and cancellation, which can ensure that the number of green certificates is not repeated statistics and the same certificate is not repeated transactions, and has the basis for accurate measurement of renewable energy electricity. In 2022, the National Development and Reform Commission, the National Bureau of Statistics, and the National Energy Administration jointly issued the Notice on Further Doing a good job of Excluding New renewable energy consumption from Total energy consumption Control, which clearly stated that "green certificate is the certificate of renewable energy electricity consumption" and proposed to "improve the statistical accounting system of renewable energy consumption data". Renewable energy consumption metering will apply to all renewable energy projects.

In 2017, China's green certificate system tried to issue green certificates for onshore wind power and centralized photovoltaic projects, and the cumulative green certificate corresponding to about 117 billion KWH of electricity, accounting for about 4.3% of renewable energy generation in 2022, the coverage of green certificate data is too narrow to support the formation of a new renewable energy consumption data statistical accounting system. This "Notice" fully connects the existing policy, clearly covers the scope of green certificate issuance to all the registered wind power, solar power (5.450, 0.06, 1.11%) power generation, conventional hydropower, biomass power generation and other renewable energy projects, will achieve green certificate and renewable energy generation corresponding. Green certificate transaction data will fully reflect the development and utilization of renewable energy in China, provide a new, efficient, accurate and unified caliber for the statistical accounting of all renewable energy production and consumption data in China, and promote the innovation of statistical accounting system.

We will standardize and improve the trading system for issuing and approving green certificates

In order to do a good job of green card application

Provide security

In order to better carry out green certificate issuance and trading, the "Notice" clarifies relevant requirements around regulating green certificate issuance and improving green certificate transactions, and strongly supports the multi-scenario application of green certificates.

Specific in terms of issuance, first, standardize the process, each power generation enterprise or project industry needs to complete the project information filling and confirmation work through the national renewable energy project information management platform file and card system in a timely manner, as the basic work to carry out green certificate issuance, will further realize the unified management of national renewable energy information, and build a map of the whole renewable energy network. The second is to improve efficiency, no longer only according to the willingness of enterprises to apply for green certificates, from passive to active verification, based on the data provided by power grid enterprises and power trading institutions, through the data provided by power generation enterprises or project owners, on the basis of ensuring the timeliness and accuracy of data, Actively issue green certificates for all the electricity produced by registered renewable energy power generation projects. From the perspective of the new green certificate issuance in the first half of 2023, only 38 billion degrees of renewable energy electricity application for green certificate issuance, accounting for 6.5% of the first half of centralized photovoltaic, onshore wind power can apply for green certificate, the active green certificate issuance will greatly promote the efficiency of green certificate issuance, promote green certificate coverage. Third, flexible adjustment, in order to avoid a serious imbalance between supply and demand, the stock of conventional hydropower projects before January 1, 2023, no tradable green certificates are issued, the corresponding green certificates are transferred directly with the electricity free, and then dynamically adjust the range of tradable green certificates according to the production and consumption of renewable energy power, and steadily cultivate the green certificate market.

In terms of transactions, the first is to clarify the transaction mode, green card and physical electricity are essentially independent of each other, and two modes of green card separate transaction (green card and physical electricity "unbundled" transaction) and green electricity transaction (green card and physical electricity "bundled" transaction) can be selected during trading. When carrying out green electricity trading, the trading contract shall clarify the trading volume and transaction price of green card and physical electricity respectively. Embody the value of physical electricity energy and environmental rights and interests respectively; Second, to enrich the trading methods, on the basis of bilateral negotiation and listed trading methods at the present stage, in order to facilitate the organization of projects enjoying central financial subsidies to better participate in green certificate trading, centralized bidding transactions will be organized in a timely manner to meet the trading demands of various trading entities; The third is to expand the green certificate trading platform. In accordance with relevant national policies, the platform for carrying out green certificate trading has been expanded to Beijing Power Trading Center and Guangzhou Power Trading Center on the basis of the China Green Certificate Subscription trading platform. In order to facilitate energy users to purchase green certificates and improve the convenience of green certificate trading, it will be expanded to other state-recognized trading platforms in due course.

Based on green certification green electricity consumption

It helps to build a unified standard

Stimulate market vitality

Internationally, for the voluntary green certificate market, the United States, Germany and other countries have reflected the contribution of enterprises to the environment after the purchase of green electricity consumption certification system, such as the "Green power partner" activity launched by the United States Environmental Protection Agency. However, China has not yet established a complete green electricity consumption certification, identification and publicity system, it is difficult to effectively enhance the awareness of green electricity consumption in the whole society. It is understood that the driving force of the current market players to buy green certificates (4.440, -0.56, -11.20%) mainly comes from the green electricity consumption requirements of the industrial chain of international enterprises and export-oriented export enterprises, as well as the social responsibility and environmental protection propositions of large enterprises themselves. Among the top 10 enterprises in the bulk volume of green certificates in 2022, Foreign companies and Sino-foreign joint ventures accounted for 6. From the perspective of research, affected by factors such as imperfect green electricity consumption certification mechanism and insufficient international recognition of green certificates, some enterprises use green electricity purchase contracts and third-party green electricity consumption vouchers as the basis for certification, and a few enterprises only use green certificates as social responsibility behaviors to fulfill green consumption in China, involving the green attribute requirements of import and export products. International Green Certificate I-REC or other more recognized certification methods will be considered.

This policy proposes to take the green certificate as the only certificate of green electricity consumption and green electricity consumption attribute identification certification for power users, establish green electricity consumption certification standards, systems and identification systems based on green certificates, will promote the formation of a unified standard for green electricity consumption certification, build a unified national green certificate system, create convenient conditions for enterprises to certify green electricity consumption, and expand the social recognition of green certificates; At the same time, drawing on the international experience of Europe and the United States, it is clear that the validity period of green electricity consumption certification is two years when carrying out green electricity consumption certification, and it will further establish and improve the domestic green electricity consumption certification system, accelerate the connection with the international green consumption system, promote the formation of green electricity consumption for domestic and foreign enterprises, promote the green certificate value to the commodity side, and better play the role of the market. Fully stimulate the vitality of the green certificate market.

Promote the link between green certificates and carbon markets

Help realize the nation

Carbon peak carbon neutral target

Both the green certificate market and the carbon market are major institutional innovations and powerful policy tools to promote green low-carbon transformation through market-oriented means. At present, there is no substantial connection between the two. Only the three municipalities directly under the central government of Tianjin, Beijing and Shanghai clearly deduct green electricity when calculating the corresponding carbon emissions of enterprises' purchased electricity. In the context of the major strategy of carbon neutrality, promoting the connection between green certificates and carbon markets can complement each other's advantages and stimulate the potential of green electricity consumption in the whole society. Specifically, the inclusion of green certificates in the mandatory emission reduction market can support increasing the proportion of non-fossil energy and promote green consumption; Foreign countries can jointly cope with the EU carbon border adjustment mechanism and strive for the interests of export-oriented enterprises. This "Notice" clearly studies and promotes the connection and coordination of green certificates with the national carbon emission rights trading mechanism and the voluntary greenhouse gas emission reduction trading mechanism, which will form a policy synergy and jointly support carbon peak carbon neutral action.

In the next step, the National Renewable Energy Information Management Center will fully support the issuance and trading of green certificates in accordance with the requirements of the Notice, and provide strong support for the smooth and orderly development of the full coverage of green certificates.