Research on Seasonal Calculation Method of Renewable Energy Certificate Price

Abstract

[Introduction] Based on the trend of consuming renewable energy sources (RES) through the market-based trading model, the “market electricity price + renewable energy certificate (REC) revenue” will become the main operation of energy generators in the future. Based on the research background of RES participating in spot power market, this paper studies the price of REC. [Method] Based on the optimized clearing model of the spot electric energy market, applying the theory of the life cycle costing (LCC) of RES generation and satisfying the internal rate of return (IRR) of the energy generators, we established the optimization model of coupling REC-electric energy market. Combined with the seasonal output characteristics of RES, the simulation and measurement methods of the seasonal curve and fluctuation interval of REC price are proposed. [Result] The price of REC for different types of RES are different, and the price of REC for different types of RES also has different climatic correlations. [Conclusion] Scientific and reasonable calculation of REC price can not only help RES generation enterprises make income assessment and more accurate investment decisions, but also provide relevant decision-making support for power market entities and trading centers.

Keywords

• renewable energy certificate (rec)
• renewable energy sources (res)
• electric energy market
• curve graph of the price of rec