The hottest renewable energy quota system will be

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The renewable energy quota system was introduced during the year, and the subsidy intensity will remain unchanged for 20 years.

recently, 13 major projects are under construction in the base. The national energy administration has made it clear that the subsidy intensity of renewable energy will remain unchanged for 20 years, while introducing the green card trading system to jointly support the development of renewable energy

Caijing exclusively learned that the National Energy Administration recently made it clear that the subsidy intensity of renewable energy will remain unchanged for 20 years without distinguishing between stock and incremental assets

previously, the industry was worried about the subsidy reduction

in March this year, the National Energy Administration announced to the public the measures for the assessment of renewable energy power quotas (Draft for comments). According to this document, in the future, the state will stipulate the minimum renewable energy power consumption ratio for each provincial administrative area due to the needs of related operations, and the competent energy department will formulate renewable energy power quota indicators for each province on an annual basis, Relevant administrative regions and market entities that fail to meet the standards will be punished

the leader in charge of the national energy administration made the above statement during the consultation period. Caijing learned that the document is expected to be released in 2018

together with the quota system, there is also the renewable energy power certificate system, which is generally called "green certificate". For renewable power producers, a green certificate can be obtained for each megawatt hour (1000 KWH) of transaction settlement electricity. The green certificate is divided into conventional hydropower certificate and non hydropower certificate

the combination of quota system and green certificates means that market players who fail to meet the quota can complete the quota by purchasing green certificates. In the future, the green card system will be combined with the renewable energy fund to jointly support new energy power. 2018-2020 is the transitional period, and the introduction of green certificates will alleviate the pressure of renewable energy subsidies to a certain extent. After 2020, new energy will usher in the era of parity. Strong quotas from cars to external parts and green certificates will jointly ensure the use proportion of renewable energy in China

after the public release of the draft in March, the National Energy Administration originally planned to publicly release the second draft at the end of June, but it was finally cancelled. The reason is that the new content on the subsidy intensity of renewable energy in the second version of the exposure draft has spread in the industry and caused great repercussions in the industry

the second version of the exposure draft requires that the mandatory quota of renewable energy be combined with the green certificate, and the minimum guaranteed utilization hours of wind power and photovoltaic power are defined by provinces. Within the guaranteed utilization hours, the National Renewable Energy Fund will give full subsidies, and the power generation beyond the guaranteed utilization hours will no longer receive subsidy support, but the power generation enterprises can obtain the green certificate and sell it to obtain incremental income, However, the amount shall not exceed the original subsidy amount

this new regulation means that in addition to the guaranteed utilization hours, the subsidies that can be obtained for the power generation of new energy enterprises can only be obtained by selling green certificates, and the amount does not exceed the original subsidy amount, which means that this part of the income will be damaged and face uncertain risks

once this information was released, it triggered strong market fluctuations. The stock prices of leading wind power targets such as A-share Goldwind technology, Hong Kong stock Datang new energy, Longyuan Power and so on were adjusted by 30% in total. According to the analysis of a capital market person, if this is implemented, the financial model of the stock assets of new energy operating enterprises is facing collapse - at the beginning of investing in the construction of new energy operating assets, all operators build financial models and make investment decisions on the premise that the intensity of state subsidies remains unchanged for 20 years. More importantly, in the central and eastern regions where electricity is not limited at present, the consumption of new energy is in good condition, and the electricity is consumed in full. The practice of defining a minimum guaranteed utilization fraction and reducing subsidies in these regions will trigger investors to comprehensively revalue the value of assets

Article 20 of the renewable energy law promulgated in 2006 stipulates that the difference between the expenses incurred by power enterprises in purchasing renewable energy electricity according to the upper electricity price determined in accordance with Article 19 of this Law and the expenses incurred in calculating the average upper electricity price of conventional energy power generation is compensated by the renewable energy electricity price levied on the sales of electricity nationwide

according to the State Council on promoting the healthy development of photovoltaic industry, 2. Rust proof oil should be applied to rusty parts or accessories that are not used for a long time, such as fixtures, jaws, connecting pins, etc. if the jaw ruler is partially blocked, please clean it with a steel brush dipped in gasoline, and do not use solid tools for liquidation. Corrosion is one of the main situations that damage fasteners, which will cause great losses to cars, motorcycles, and various vehicles and machinery. Some opinions (GF [2013] No. 24), photovoltaic power generation projects that enjoy the national electricity price subsidy should comply with the renewable energy development plan, the approval procedures for fixed asset investment and relevant management regulations. Since the photovoltaic power generation project is put into operation, the electricity price or electricity price subsidy standard on the benchmark shall be implemented, and the period shall be 20 years in principle

a person from a new energy power generation enterprise said that operators usually use the electricity revenue after production as collateral to raise funds in the bank. If the subsidy is reduced, it may lead to bank lending, or require the increase of collateral, which will bring major challenges to the development of new energy enterprises. At the same time, this is also a major shift in national policy, which will have an impact on the credibility of the government

according to Caijing, in early July, the National Energy Administration held two closed door forums to redefine the idea of the quota system and the way to combine it with the green card system. At present, the idea of reducing stock subsidies has been overturned. At the meeting, the business leaders of the energy administration made it clear to maintain the intensity of new energy subsidies and introduce the green card trading system

at the same time, the energy administration requires that local governments should strictly implement the guaranteed utilization hours of the previously defined northwest power limitation area, ensure that the national subsidies within the utilization hours remain unchanged for 20 years, ensure that the basic electricity price beyond the utilization hours encourages market-oriented transactions, and the subsidy intensity remains the same for 20 years. New energy operators can first obtain income by selling green certificates, The difference between the income and the total amount of the original subsidy shall be made up by the renewable energy fund

on the one hand, this practice eased the pressure on the gap of new energy subsidies. On the other hand, the faster collection of green card income can also alleviate the cash flow pressure of enterprises due to subsidy arrears to a certain extent. At the same time, the energy administration also stressed that there will be no minimum guaranteed utilization hours in the Middle East unlimited power region, new energy power will be purchased in full, and the subsidy intensity will remain unchanged for 20 years

the above ideas were agreed by experts and insiders who participated in the discussion from the perspective, which clarified the ideas for the final implementation of the quota system. At present, the third version of the draft for comment is under preparation

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