China's National Development and Reform Commissions (NDRC)
– the country's chief economic planning body –
announced that a "green certificates" program for solar
and wind power will be launched beginning on July 1, 2017. The
certificates issued by the program will be similar to the Renewable
Energy Credits issued in the United States, and will each represent
1MW of electricity output from solar or wind generation. The
program will be initiated on a voluntary basis at first, and is expected to become mandatory in
2018.
The new green certificates scheme is intended to ease the
burdens on the renewable energy fund which supplies the currently
received by solar and wind-power producers in China. Shortfalls in the fund have resulted in delays of
as long as two years for power producers to collect their
subsidies. When the scheme becomes mandatory, firms that fail
to meet certain renewable power requirements (yet to be announced)
will be required to purchase certificates
