Summary of Key Points Core Viewpoint - The National Energy Administration released data on the issuance and trading of renewable energy green power certificates for December 2025, highlighting significant activity in both issuance and trading of these certificates. Group 1: Green Certificate Issuance - In December 2025, the National Energy Administration issued 211 million green certificates, covering 688,700 renewable energy generation projects, with 150 million being tradable, accounting for 71.32% of the total [1] - For the entire year of 2025, a total of 2.947 billion green certificates were issued, of which 1.893 billion were tradable [1] - The breakdown of green certificates issued in December 2025 by renewable energy type includes: - Wind Power: 9,278 - Solar Power: 4,748 - Conventional Hydropower: 5,779 - Biomass Power: 1,131 - Other Renewable Energy: 162 - Total: 21,099 [3] Group 2: Green Certificate Trading - In December 2025, a total of 202 million green certificates were traded, including 22.75 million for green electricity [4] - For the full year of 2025, 930 million green certificates were traded, with 250 million being for green electricity [4] - The trading breakdown for December 2025 by renewable energy type includes: - Wind Power: 9,415 - Solar Power: 8,931 - Biomass Power: 1,421 - Other Renewable Energy: 463 - Total: 20,230 [6] - The average trading price for green certificates for the production year 2024 was 1.12 yuan per certificate, while for 2025 it was 5.15 yuan per certificate, reflecting a month-on-month price change of -73.82% for 2024 and -0.22% for 2025 [7]

我国是世界上最大的可再生能源开发和利用大国，并将成为全球最大的绿证市场。为高质量建设绿 证市场，推动绿证价格合理体现绿色电力环境价值，国家发展改革委、国家能源局、工业和信息化部、 商务部和国家数据局近日联合印发了《关于促进可再生能源绿色电力证书市场高质量发展的意见》（下 称《意见》）。我国加快构建以绿证为基础的绿色电力消费体系，推动从"用上电"、到"用好电"、再 到"用绿电"，为经济社会发展提供源源不断的绿色动力。 推动"工资卡"体现绿色电力环境价值 杭州亚运会、上海进博会等均通过绿证实现100%绿色用能，居民自主购买绿证数量不断提升…… 近年来，大型活动、用能企业、公共机构、居民用电均通过购买绿证实现绿色电力消费，绿色电力消费 理念日益深入人心。 什么是"绿电"？国家能源局近期组织编写发布的《中国可再生能源绿色电力证书百问百答（2025年 版）》介绍，绿色电力一般是指符合国家有关政策要求的风电、太阳能发电、常规水电、生物质发电、 地热能发电、海洋能发电等已建档立卡的可再生能源发电项目所生产的全部电量。 可再生能源绿色电力证书（简称绿证），是由政府或第三方机构向绿色电力核发的具有特殊标识的 电子证书，通常每1 ...

7日，由国家能源局印发的《可再生能源绿色电力证书管理实施细则（试行）》（以下简称《实施细 则》）公布。《实施细则》自印发之日起实施，有效期3年，其旨在规范可再生能源绿色电力证书（以 下简称"绿证"）全生命周期管理，促进绿证市场高质量发展。 "《实施细则》的出台将进一步提升绿证制度的科学性、规范性和可操作性，有效填补现有规范性文件 在实操层面的空白，对推动绿证市场高质量发展，充分释放绿色电力环境价值，助力经济社会发展全面 绿色转型具有重要意义。"国家能源局有关负责人介绍，《实施细则》的制定主要基于精准落实顶层设 计、强化机制协同衔接、切实回应社会关切三方面核心需要。 《实施细则》共10章45条，从职责分工、账户管理、绿证核发、绿证划转、绿证核销、异议处理、信息 管理、绿证监管等方面进行全面细化，构建体系完善、权责清晰的绿证全生命周期管理机制，为可再生 能源环境权益规范化运作提供制度支撑。 在职责分工方面，《实施细则》要求，发电企业或项目业主在项目建成并网一个月内完成建档立卡信息 填报并提交审核；对于分期建设并网的项目，及时更新并网容量，必要时提供或核对绿证核发所需信 息。 在绿证核发方面，《实施细则》明确，绿证 ...

（来源：千龙网） 1月7日，由国家能源局印发的《可再生能源绿色电力证书管理实施细则（试行）》（以下简称《实施细 则》）公布。《实施细则》自印发之日起实施，有效期3年，其旨在规范可再生能源绿色电力证书（以 下简称"绿证"）全生命周期管理，促进绿证市场高质量发展。 在绿证核发方面，《实施细则》明确，绿证核发机构依托国家绿证核发交易系统按月对可再生能源电量 核发绿证，每1000千瓦时可再生能源电量核发1个绿证，不足核发1个绿证的当月电量结转至次月。 此外，绿证核发机构根据不同发电类型核发绿证。对风力发电、太阳能发电、生物质发电、地热能发 电、海洋能发电等可再生能源发电项目上网电量，以及2023年1月1日（含）以后新投产的完全市场化常 规水电机组上网电量，核发可交易绿证。对项目自发自用电量、离网型可再生能源发电电量和2023年1 月1日（不含）之前投产的常规水电机组上网电量，核发不可交易绿证。独立储能设施放电电量不核发 绿证。 上述有关负责人表示，国家能源局将持续推进国家绿证核发交易系统优化升级，加强系统功能建设和跨 平台交互效率，在绿证核发全覆盖、绿证市场高质量发展新形势下，着力保障海量核发、交易、划转数 据高效处 ...

Core Insights - The renewable energy green certificate market in China has experienced significant growth in both volume and price, achieving international breakthroughs in 2023 [1][7] - As of September 2023, the cumulative issuance of green certificates reached 7 billion, with a trading scale of 529 million certificates, reflecting a year-on-year increase of 110% [1][3] - The average trading price of green certificates in Q3 2023 was 5.06 yuan per certificate, a 210% increase from Q1 [1][3] Market Dynamics - The growth of the green certificate market is driven by multiple factors, including policy optimization and increased demand due to international recognition [3][4] - The implementation of a comprehensive green certificate policy and the launch of a national trading system in 2024 have contributed to a stable supply of green certificates [3][4] - Price differentiation exists among green certificates from different production years, with the average trading price for 2024 production year certificates at 2.56 yuan and for 2025 at 5.22 yuan [3] Demand Drivers - The demand for green certificates is significantly influenced by corporate commitments to green electricity goals, regulatory requirements for high-energy-consuming industries, and pressure from downstream customers [5][6] - Five key categories of enterprises drive the consumption of green certificates: multinational companies with carbon reduction commitments, domestic companies with green electricity goals, high-energy-consuming industries, upstream suppliers responding to customer demands, and export-oriented manufacturers [5][6] Challenges and Opportunities - Despite the growth in demand, the consumption potential of green certificates remains underutilized, with structural challenges in attracting more buyers [1][5] - The mandatory green electricity consumption policy impacts high-energy industries by increasing operational costs, while also promoting market competition and efficiency [6][7] - The international recognition of Chinese green certificates by RE100 marks a significant step towards global integration, although further improvements in traceability and certification processes are needed [7][8] Future Considerations - Companies are encouraged to align their green certificate deployment with their overall low-carbon development strategies and carbon asset management systems [10] - The transition of green certificates from a cost item to a value item requires careful consideration of economic viability and necessity, emphasizing the importance of green electricity procurement and investment [10]

Core Insights - The National Energy Administration of China has released data on the issuance and trading of renewable energy green power certificates for September 2025, indicating a significant volume of certificates issued and traded [1]. Issuance of Green Certificates - In September 2025, a total of 229 million green certificates were issued, covering 306,500 renewable energy generation projects, with 158 million being tradable, accounting for 68.86% of the total [2]. - For the period from January to September 2025, the total number of green certificates issued reached 2.108 billion, with 1.435 billion being tradable [2]. Breakdown by Renewable Energy Type - Wind Power: 7.216 million (September), 79.112 million (January-September) - Solar Power: 7.324 million (September), 50.117 million (January-September) - Conventional Hydropower: 6.876 million (September), 67.499 million (January-September) - Biomass Power: 1.369 million (September), 12.788 million (January-September) - Other Renewable Energy: 0.124 million (September), 1.241 million (January-September) [4]. Trading of Green Certificates - In September 2025, a total of 65.12 million green certificates were traded, including 21.02 million for green electricity [2]. - From January to September 2025, the total number of traded green certificates was 529 million, with 179 million for green electricity [2]. Breakdown by Renewable Energy Type - Wind Power: 2.860 million (September), 26.204 million (January-September) - Solar Power: 3.288 million (September), 22.861 million (January-September) - Biomass Power: 0.162 million (September), 2.648 million (January-September) - Other Renewable Energy: 0.201 million (September), 1.225 million (January-September) [6]. Average Trading Price - In September 2025, the average trading price for the 44.10 million certificates traded was 4.99 yuan per certificate, reflecting a month-on-month decrease of 11.78% [7]. - The average prices for certificates from different production years were as follows: - 2023 and earlier: 0.23 yuan - 2024: 2.58 yuan - 2025: 6.46 yuan [9].

Core Insights - Shandong Port has achieved a significant milestone in the green energy sector by obtaining 24,954 renewable energy green power certificates (green certificates) from the National Energy Administration, which is expected to reduce carbon emissions by approximately 12,477 tons [1][2] - Each green certificate corresponds to 1,000 kilowatt-hours of green electricity, enabling the consumption of 24.954 million kilowatt-hours of green electricity, equivalent to replacing the transport capacity of 5 million tons of trucks [1][2] Group 1 - The acquisition of green certificates marks the first such honor for Beijing Lugang Company, contributing to the construction of a green port and the implementation of the "carbon peak and carbon neutrality" strategy [1][3] - Green certificates serve as the official proof of renewable energy consumption, empowering enterprises to fulfill their environmental responsibilities and enhance their green brand image, thus creating a competitive advantage in the market [2] - The green certificates facilitate international trade by meeting the increasing green procurement demands of global supply chains, acting as a "hard pass" for enterprises to integrate into the global green industry chain [2] Group 2 - The successful certification reflects the internal collaboration and resource integration within Beijing Lugang Company and its partnership with Shandong Port Bohai Bay Port Group, demonstrating a unified effort towards green transformation [3] - Looking ahead, Beijing Lugang Company aims to further invest in renewable energy sectors such as wind and solar power, optimizing the energy consumption structure of the port and contributing to the national "dual carbon" goals [3] - The company intends to explore replicable and scalable green development pathways, striving to provide a "Shanport model" for the clean energy transition in the national port sector [3]

Group 1: Concept and Significance of Green Certificates - Green electricity refers to electricity generated from renewable energy sources such as wind and solar power, which is certified by a green certificate (green certificate) issued by the government or third-party organizations [2][17]. - The green certificate serves as the only proof of the environmental attributes of renewable energy electricity in China, facilitating the transition to green energy and supporting the achievement of carbon neutrality goals [2][21]. - Implementing the green certificate system helps guide green electricity consumption, promotes the development and utilization of renewable energy projects, and supports the connection between electricity and carbon markets [2][21]. Group 2: Issuance and Style of Green Certificates - The green certificates in China are issued by the National Energy Administration and are based on a national green certificate issuance and trading system [3][25]. - Each green certificate corresponds to 1,000 kilowatt-hours of electricity, and the certificates are issued monthly with a validity period of two years [3][18]. - The certificate includes essential information such as project name, electricity generation, and has both Chinese and English versions for verification [3][32]. Group 3: Trading Models of Green Certificates - Green certificate trading includes two models: separate trading and green electricity trading, with the former allowing nationwide trading without physical grid constraints [4][41]. - The trading price of green certificates is determined by the market without upper or lower limits, and transactions can be conducted through listing or bilateral negotiation [4][41]. - Foreign entities may purchase Chinese green certificates under certain conditions, and trading can be facilitated through authorized agencies [4][39]. Group 4: Application Scenarios of Green Certificates - Holders of green certificates can declare their consumption and apply for cancellation, with no difference in application between tradable and non-tradable certificates [5][54]. - Green certificates can be integrated into energy consumption control systems, and the traded electricity is counted towards energy-saving assessments [5][61]. - In the international context, Chinese green certificates are similar to the EU's Guarantees of Origin (GO) and are actively seeking international recognition [5][71]. Group 5: Cancellation and System of Green Certificates - The cancellation of green certificates is crucial for ensuring the uniqueness of their environmental attributes, with certificates being canceled after their validity period or upon consumption declaration [6][79]. - A green certificate account is used to manage green certificate assets, with each entity allowed only one account, while provincial accounts are managed by local authorities [6][84]. - The national green certificate issuance and trading system is linked to the registration system, allowing users to access and manage their certificates online [6][93].

Core Points - The launch of the green power certificate (green certificate) cancellation function in the national green certificate issuance and trading system enhances the management of green certificates, ensuring a more standardized and transparent usage, which supports the construction of a green power consumption system and aids in achieving the "dual carbon" goals [1][2][3] Group 1: Green Certificate Lifecycle Management - The green certificate serves as an "electronic ID" for renewable energy, and the cancellation mechanism binds electricity to its environmental attributes, preventing misuse [2][3] - The cancellation function completes the lifecycle management of green certificates, ensuring that each certificate has a clear beginning and end [2] - The national green certificate issuance and trading system will monitor certificates monthly, sending reminders three months before expiration and automatically canceling expired certificates [3] Group 2: Enhanced Transparency and Data Management - The cancellation function provides a detailed record of green power consumption, allowing entities to generate a cancellation information sheet that includes various data points such as the number of certificates canceled and specific consumption scenarios [4][5] - The cancellation information sheet serves as a proof of green power consumption, enhancing the uniqueness of green certificates [5] Group 3: Policy Integration and Support - The cancellation mechanism supports the implementation of energy-saving and carbon reduction policies, reinforcing the foundational role of green certificates as a policy tool [7] - Users must select the environmental rights ownership location when purchasing green certificates, and cancellations must occur within the designated area, aiding local energy authorities in managing data effectively [7] - This regulation strengthens the function of green certificates in accounting for green power consumption, providing a reliable basis for local governments to assess energy consumption control and renewable energy responsibilities [7] Group 4: Future Developments - Additional trading platforms, including the China Green Power Certificate Trading Platform and various regional electricity trading centers, will also implement the green certificate cancellation function in the future [8]