Research Of The Renewable Portfolio Standard And Tradable Credits Market In China

With the rapid development of global economy, the large consumption of traditional energy led to the increasingly contradiction between supply and demand, and the wide use of traditional energy also brought massive discharge of pollutant, the world have to face the global environment problems within the challenges of environmental pollution. Facing the above situation, as an effective incentive policy of promoting renewable energy development, the policy of renewable portfolio standard (RPS) with the core of renewable electricity credits (REC) has been more and more implemented by western countries.On the base of applying of renewable portfolio standard in China in the near future, this paper summarizes the practical experience in domestic and abroad, and discusses the market conditions of implementing RPS system and of construction REC trading market in China. By means of quantitatively analyzing, supply-and-demand equilibrium and price mechanism, we analyze whether the REC market price forming mechanism can promote the development of renewable energy power through effective reflecting the enterprise generating cost and then analyze its market benefit.Finally, this paper analyzes the benefits brought by RPS to electrical power system, as well as some possible obstacles in practical operation, and puts forward relevant suggestions for future study and policy making.