China issued 4.73 billion Green Electricity Certificates (GECs) in 2024, up more than 28-fold from the previous year, according to the China Green Electricity Certificate Development Report (2024) released by the National Energy Administration (NEA) on April 21.
Source: Science and Technology Daily
China issued 4.73 billion Green Electricity Certificates (GECs) in 2024, up more than 28-fold from the previous year, according to the China Green Electricity Certificate Development Report (2024) released by the National Energy Administration (NEA) on April 21. By the end of December 2024, the cumulative number of certificates issued nationwide had reached 4.96 billion.
Green Electricity Certificates are digital records that verify the generation of renewable energy, with each certificate representing 1,000 kilowatt-hours of green power. The NEA oversees the issuance and management of these certificates, using data provided monthly by grid operators and power trading platforms. Each GEC carries a unique identification code and is stamped with the NEA’s official seal.
Since the GEC system was first introduced in 2017, China has established a regulatory framework rooted in its Energy Law, supported by a comprehensive set of policies and technical standards. The report notes that this framework has matured significantly, helping to formalize and standardize the management of green power certification.
Of the certificates issued in 2024, 3.16 billion were tradable on the market. The top eight regions by volume—each issuing over 200 million GECs—were Yunnan, Inner Mongolia, Sichuan, Xinjiang, Qinghai, Hubei, Gansu, and Hebei.
The report also highlights rapid growth in GEC trading activity, driven by both policy incentives and market demand. The total number of certificates traded in 2024 quadrupled year-on-year to 446 million. Trading mechanisms have diversified: 277 million certificates were traded independently, mainly through interprovincial deals, while 169 million were bundled with green power transactions, mostly within provinces.
Roughly 59,000 buyers participated in the GEC market last year, more than 2.5 times the figure in 2023. Manufacturers accounted for the majority of purchases—around 70% of total volume. The Beijing-Tianjin-Hebei region, the Yangtze River Delta, and the Guangdong-Hong Kong-Macao Greater Bay Area together accounted for 240 million GECs traded, more than half of the national total.
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