Core Viewpoint - The article discusses the implementation of market-oriented pricing mechanisms for renewable energy in China, emphasizing the transition to a market-driven electricity pricing system as outlined in the "136 Document" issued by the National Development and Reform Commission and the National Energy Administration [1][12]. Summary by Sections Basic Comparison - "Mechanism electricity price" is designed as a transitional support policy to ensure reasonable returns for new renewable energy projects, formed through market competition rather than fixed subsidies [2]. Mechanism Electricity Pricing - For existing projects, the mechanism electricity price is linked to the benchmark price of coal-fired power, with typical prices ranging from 0.25 to 0.45 yuan per kilowatt-hour. Different provinces have specific pricing structures, with Xinjiang providing detailed classifications for subsidized and non-subsidized projects [3]. Mechanism Electricity Volume - The "mechanism electricity volume" is the guaranteed minimum electricity volume for renewable projects, ensuring basic returns through a price difference settlement mechanism [3]. Execution Period - The execution period for mechanism electricity prices is designed to ensure long-term investment returns for existing projects, with typical durations based on the project's lifecycle or a fixed number of years [5]. Competitive Mechanism - The competitive mechanism for pricing involves two aspects: projects included in the mechanism must participate in market trading, and a competitive bidding process is established for new projects before they enter the mechanism [7]. Market Participation - Projects included in the mechanism must participate in market trading, with price settlements based on market averages. For example, in Xinjiang, projects can participate without mandatory reporting of volume or price [8]. Mechanism Volume Competition - Different provinces have varying approaches to competition for mechanism electricity volume, with some using marginal clearing methods and others determining prices based on bids [11]. Policy Implementation and Transition - The implementation of the "136 Document" has accelerated the marketization of renewable energy, with significant growth in installed capacity. By May 2025, the total installed capacity reached 3.61 billion kilowatts, with solar and wind power showing substantial year-on-year growth [12][13]. Regional Policy Examples - Xinjiang has maintained strong support for existing projects, ensuring a smooth transition by linking new policies with previous ones. In contrast, Inner Mongolia has a high degree of marketization, allowing for a quicker shift to full market trading without mandatory price difference settlements [13][14]. Future Outlook - As the "136 Document" is further implemented, renewable energy development will increasingly align with electricity market dynamics, and the storage industry will transition from mandatory storage to market competition [14].