NDRC say that under the program, energy producers will be issued with tradeable certificates guaranteeing that electricity has been generated from a renewable source. Each certificate will represent one megawatt hour of electricity procured from solar or wind.
Reuters go on to say that energy users, such as private and state owned businesses, will then be encouraged to buy the certificates proving that they have have made use of renewable energy.
NDRC gave little detail on the financial side, saying that certificate holders will be entitled to an unspecified payment, whilst power producers that successfully sell their certificates will no longer receive direct subsidies from the state.
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The program beginning in July is a pilot. NDRC say it will monitor closely, and may launch a mandatory green certificate scheme at a later date.
China, by far the world’s largest market for renewables, recently announced a 19% cut to its tariff for large-scale solar, as prices for modules fell by around 30% in 2016.
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