Green electricity certificates a boost to decarbonization

Proof of clean energy use in China sees big surge in 2024 issuance

Further efforts are expected to improve mutual recognition of certificates regarding proof of green energy use between China and Europe to support economic and trade exchanges, as more economies are implementing carbon pricing mechanisms for imported goods, said officials and experts.

China's National Energy Administration said that by the end of 2024, China issued a total of 4.955 billion green electricity certificates, marking a 21.42-fold increase compared to the previous year. The certificates' cumulative transactions reached 553 million times, a 4.19-fold increase, equivalent to 553 billion kilowatt-hours of electricity, with over 99 percent of certificates purchased by enterprises.

Yi Yuechun, deputy head of the China Renewable Energy Engineering Institute, said that manufacturing sectors such as telecommunications and automotive account for 70 percent of green electricity certificate purchases.