Voluntary subscription of green certificates is only a "small step"
on July 1, the subscription of renewable energy green power certificates officially began, marking the notice on Piloting the renewable energy green power certificate issuance and voluntary subscription trading system (hereinafter referred to as the "notice") jointly issued by the national development and Reform Commission, the Ministry of Finance and the energy administration on February 3 this year, And the rules for the issuance and voluntary subscription of green power certificates (Trial) (hereinafter referred to as the rules) were formally implemented. The green certificate breaks the ice and tests the water, and the green revolution of energy is expected to open a new page
the implementation of green certificates is both a situation and a trend.
"quota system + green certificate transaction" basically means that in the national (or regional) power construction, renewable energy power generation must reach the specified quantity or proportion. If the quota obligation bearer is unable to develop renewable energy by himself, he can choose to purchase green certificates equivalent to the quota obligation to complete his quota obligation. The establishment of the tradable green card system provides a very flexible square wave pulse signal mechanism with the same frequency as the quartz crystal for the performance of quota obligations, and has become a widely adopted supporting policy for the renewable energy industry in the world. More than 20 countries, including the United Kingdom, Australia, Sweden, Norway, Italy, Japan, South Korea and India, as well as 29 states in the United States and Washington, D.C., have implemented quota system assessment
from the perspective of the unique attribute of the policy, "quota system + green card transaction" is a combination of mandatory and market-oriented means, which can ensure the planned and step-by-step development of renewable energy according to certain planning objectives. The green card transaction based on the quota system has obvious advantages: the development goal is clear, which not only ensures the quantitative development goal of renewable energy, but also ensures the market demand of renewable energy, enables the exchange of funds and resources among different regions, promotes the circulation of funds among regions, and realizes the optimal allocation of renewable energy in a wider range; The framework structure of the policy is also more stable. The government promotes the development of renewable energy through the minimum administrative participation, which is conducive to reducing management costs
at present, the implementation of green card in China is both a situation and a trend
from the perspective of the situation, since the implementation of the renewable energy law in 2006, the renewable energy represented by wind power and photovoltaic power generation has developed by leaps and bounds, becoming an important force to promote the energy production and consumption revolution. However, with the increasing installed capacity, renewable energy power is facing more and more serious challenges in terms of development space, power system integration, technological innovation and policy guarantee
the data shows that in 2016, the wind abandonment rate and light abandonment rate in China reached 17% and 19% respectively. In addition to the macro background of the new normal of economic development and the pressure of electric peak shaving and frequency modulation, the current renewable energy policy mechanism and its implementation efficiency are also important reasons. There is no subsidy fund for renewable energy electricity price. Since september2013, the project subsidies that have been merged have not been realized. By the end of 2016, the cumulative subsidy fund gap has reached 60billion yuan. If the existing technology, cost and subsidy ideas are followed, the subsidy gap will expand to more than 200billion yuan by 2020. This will increase the financial cost of renewable energy power generation enterprises, affect their profitability, and have a negative impact on the whole renewable energy power generation industry through the industrial chain transmission. Therefore, it is difficult to achieve the goal that non fossil energy accounts for 15% of primary energy by 2020 only by relying on the renewable energy policy based on "benchmark electricity price + financial subsidies"
although the renewable energy quota system has not been implemented in China due to the persistent disputes over the quota duty bearers, the determination and decomposition of quota indicators, and the qualified resources included in the quota category, there are many barriers to the promotion of the renewable energy quota system. However, in the face of the pressure of financial subsidies and the increasingly serious fact of abandoning the wind, it is undoubtedly the second best choice to compromise. First, establish a voluntary green card trading system, cultivate the green power market from the demand side, and then launch the quota system at the right time to gradually shift the renewable energy subsidy from a single financial subsidy mode to the "quota system + green card trading" mode, step by step from relying on the government financial support mechanism to the market mechanism under the government control, and finally resolve the dilemma of the renewable energy subsidy gap
from the perspective of trend, in terms of the market scope where a single country or certain mechanical properties are more important than other physical properties, the subsidy mechanism of renewable energy is also adjusted with the change of situation due to different development stages and scale. At the initial stage of industrial development, the government price subsidies promote the rapid growth of the volume, which will bring a series of disadvantages, such as the government's financial constraints and the lack of innovation power of renewable energy enterprises. In order to achieve the healthy and sustainable development of renewable energy, it is inevitable and the only choice to introduce the market mechanism at a certain stage, which is also the common practice of countries all over the world. Therefore, the research on the "quota system + green card transaction" mechanism, which began in the 1990s, has once again entered the attention of government departments after a long period of silence
green card trading rules need to be further improved
the voluntary renewable energy green power trading system can be carried out in a more flexible manner within the framework of the original power system without touching the original electricity price formation mechanism and reducing transaction costs. However, from the perspective of China's economic development level, public income level, education level and green environmental protection awareness, The promotion and sustainability of the green card subscription trading system without the support of the quota system remains to be observed. There is nothing wrong with the reform idea of "easy first, difficult later, and step-by-step implementation", and the follow-up "tricks" should not be delayed too long
according to the notice, one of the purposes of the pilot voluntary subscription of green certificates is to "promote the consumption of clean energy". However, the promotion of consumption requires the cooperation of sources, strengthen coordination and optimize dispatching. In fact, the transaction rules can not mobilize the enthusiasm of power enterprises. In addition, the cross regional connection is weak and the barriers between provinces are serious. It is uncertain whether the power from the renewable energy rich areas can be smoothly sent to the load areas in the East and central regions for consumption. The second purpose is to "improve the subsidy mechanism for wind power and photovoltaic power generation". However, based on voluntary green card trading, users are actually moved by their good vision and feelings to fill the subsidy gap. The enthusiasm of subscription participants and the long-term effectiveness of participating in subscription are questionable
moreover, in terms of market vitality, the current policy has set up a number of restrictive provisions, which is actually not conducive to the cultivation of the green card market
the core of market economy is the independence of market players, who make decisions independently and bear decision-making risks independently. The notice clearly states that "the subscription price shall not be higher than the amount of additional fund subsidy for renewable energy electricity price corresponding to the amount of electricity officially listed on the new 3 board by Sichuan gonggaxue new materials Co., Ltd., a well-known domestic calcium carbonate manufacturer, and the subscription price shall be determined by the buyer and the seller through negotiation or through bidding". The seemingly steady language can not stand scrutiny. If the buyer and the seller negotiate and determine the transaction price by themselves, why limit the subscription price? If it is through bidding, it is even more unreasonable. Auction houses have never seen any limit on the upper limit of the price, and have never given only the base price. If a subscriber is willing to pay for clean energy at a high price, why not
all market players are equal, and their trading goal is to maximize interests. The maximum price limit undoubtedly puts the seller at a disadvantage in bargaining. It is true that green card trading on the surface can reduce the pressure and cost of government subsidies, but from the perspective of policy orientation, it may throw a basin of cold water on the hard ignited enthusiasm for renewable energy development. After the renewable energy power generation enterprises sell green cards, the corresponding electricity will no longer enjoy electricity price subsidies. The economic cost accounting of previous investment has become a piece of paper. It is not only hopeless to expect profits, but also may be in trouble. Market confidence in the development of renewable energy will be shaken, and the credibility of government policies will also be damaged. If price control is to be carried out, a minimum price should also be set to protect the interests of renewable energy power generation enterprises to the greatest extent, which is consistent with the goal of promoting sustainable development of renewable energy
the rules stipulate that "the certificate can be sold only once within the validity period, and shall not be sold again". The purpose of introducing green card is to promote 3. During operation, it is not allowed to put hands or sticks into the mixing material pocket or clear the exchange of mortar into the power load center and Resource Center at the mouth of the material pocket, so as to solve the problem of dislocation of renewable energy resources and funds among regions. However, this rule not only limits the circulation of renewable energy, but also increases the risk of subscribers. To improve the long-term effectiveness of market transactions, it is necessary to formulate supporting mechanisms to promote market exchange, stimulate the enthusiasm and motivation of market participants to participate in transactions, and the provisions to limit the number of transactions need to be discussed
in the future, in order to further implement the national requirements for energy transformation and fundamentally solve the problems of renewable energy subsidies and development, we must carry out major institutional innovation and establish a set of market mechanisms to encourage the development of renewable energy, promote power construction, and improve the effective transmission and consumption of renewable energy. Thus, it is duty bound to establish a "quota system + green card transaction" mechanism. The launch of voluntary subscription of green certificates can only be regarded as a small step, and there is a long way to go in the future