The Mechanism Design And The Effect Analysis Of Carve-out Tradeable Green Certificates In China

The wind power and solar power generation industry has developed rapidly and the installed capacity has been increasing.China's renewable energy power generation has initially achieved market-oriented development,but the provinces and large-scale state-owned enterprises still take control of the transmission and distribution,retail pricing,which decreases the efficiency and brings a heavy burden on government finances.The introduction of the mandatory market-oriented green certificate system is necessary,but wind power and photovoltaic power generation technology characteristics and natural resource characteristics are different,resulting in different cost and difficulty.In the existing green trading platform,the number of wind power TGC is more than that of PV.Therefore,the wind power and PV Carve-out mechanism needs to be considered,so the development speed of wind power PV is more matched and then the power generation structure is more balanced.This article combines regional power and green certificate trading for analysis.First,China will be divided into ten major power generation regions,each has a power generation company,a power transmission and distribution company,and a power retailer.Second,use the multi-regional electricity market equilibrium model to simulate the transaction between regions.The inter-regional electricity demand is equal to the power supply,the green certificate requirement is equal to the green certificate supply as the market clearing condition,the KKT condition is used to solve the hybrid complementary model,and the GAMS software is used to calculate the optimal solution.Finally,the different multipliers for the wind power and PV power generation at the time of subscription of a single green certificate are used to conduct a scenario analysis of the subdivision system.Comparing and analyzing the green certificate carve-out mechanism for renewable energy generation,it was found that this mechanism can ease government financial pressure,reduce carbon emissions,and increase renewable energy generation.