Research on Evolution and Development of Power Generation Scale and Cost under Tradable Green Certificates Market in China

Tradable green certificates market is an effective measure to solve the problems of high cost of renewable energy and large funding gap, single funding source and long time period of price subsidy. Economic model of tradable green certificates market is established based on system dynamics and simulation is carried out based on Vensim. Meanwhile, unit comprehensive cost of various energy under tradable green certificates market and sensitivity of key factors are analyzed deeply. The results indicate that tradable green certificates market will not only reduce subsidy funds and improve efficiency of subsidies, but also provide a new investment return mode for renewable energy, encourage investment development and effectively promote energy supply side structure optimization with reasonable renewable portfolio standard ratio and tradable green certificates validity period.