The National Energy Administration (NEA) announced on January 23 that China issued 4.734 billion Green Certificates (GCs) in 2024, marking a 28.4-fold year-on-year increase. Of these, 3.158 billion, or 66.71%, were tradable.
Source: China Energy Network
The National Energy Administration (NEA) announced on January 23 that China issued 4.734 billion Green Certificates (GCs) in 2024, marking a 28.4-fold year-on-year increase. Of these, 3.158 billion, or 66.71%, were tradable. By energy type, 1.941 billion GCs were issued for wind power, 827 million for solar power, 1.578 billion for conventional hydropower, 381 million for biomass power, and 8.09 million for other renewable energy sources. As of December 2024, the cumulative issuance of GCs reached 4.955 billion, including 3.379 billion tradable certificates.
NEA Deputy Director Wei Qingshan highlighted key trends in GC issuance and trading over the past year. The scope of issuance expanded significantly, with conventional hydropower and geothermal power projects included for the first time, achieving full coverage across renewable energy sources. Distributed solar projects also experienced significant growth, with 23.31 million GCs issued to 64,200 projects throughout the year. Additionally, substantial progress was made in issuing GCs for historical renewable energy production, with certificates now covering nearly all energy generated since June 2022. Future issuance will primarily focus on current renewable energy output.
GC trading activity also increased sharply in 2024. A total of 59,000 enterprises and individuals participated, a 2.5-fold increase from 2023. Manufacturing enterprises accounted for 70% of GC purchases, while the Beijing-Tianjin-Hebei, Yangtze River Delta, and Guangdong-Hong Kong-Macao regions collectively traded 240 million GCs, representing more than 50% of total transactions.
The credibility and transparency of GCs were further enhanced through a national certification and trading platform, enabling users to verify GC details via login or QR code. This system ensures data authenticity, prevents tampering, and provides full lifecycle traceability for GCs. Additionally, integration with the Chinese Certified Emission Reduction (CCER) system allows seamless interoperability with offshore wind and solar thermal projects, ensuring the uniqueness and reliability of environmental benefits.