Review of existing policies and prospects for green power and green certificates in a dual-carbon context

Abstract

Green electricity and green certificates serve as fundamental components in advancing renewable energy deployment and facilitating the global energy transition. Against the backdrop of worldwide efforts to optimize energy structures and mitigate climate change, the enhancement and implementation of their policy mechanisms have garnered considerable attention. This paper conducts a comparative analysis of green electricity and green certificate policies in six countries: Germany, the UK, Denmark, the U.S., India, and China. The effectiveness of these policies is assessed across six dimensions: government subsidies, government regulation, environmental friendliness, international cooperation and mutual recognition, policy coordination and synergy, technological innovation and R&D. Furthermore, the study identifies five major challenges currently confronting the development of these mechanisms: carbon and green attribute markets, technological, international linkages, standardization, and corporate renewable procurement, and put forward corresponding policy recommendations. We highlight the contributions to research on complementary policy and technological innovation coordination mechanisms, and cross-national comparative analysis. And offers valuable insights for optimizing policies, particularly for developing countries.