Certificate Market Research Articles

Decision-making behavior of power suppliers in the green certificate market: A system dynamics analysis

Green certificate trading systems have been developed to improve renewable energy support policies and innovative development mechanisms. To more intuitively analyze the decision-making behavior of power suppliers under green certificate schemes, we constructed a system dynamics-based model and carried out a case study using the scenario analysis method. The model clearly shows the complex logical relationship among the factors involved and reveals the decision-making process of the power producers of green certificates. This paper is also relevant for scholars from various countries seeking to understand the trading strategies of green certificate mechanisms and provides a reference for concerned decision-making bodies. The results indicate that under different scenarios and considering the restrictions and effects of the renewable portfolio standard (RPS) quota ratio, the transaction cost ratio and penalty mechanisms, compared with green power enterprises, thermal power enterprises are willing to enter the green certificate market for trading as the government's support for RPS increases. Finally, relevant policy suggestions are put forward to promote the development of renewable energy in China.

The interplay of the carbon market, the tradable green certificate market, and electricity market in South Korea: Dynamic transmission and spillover effects

The carbon emission trading scheme (ETS) and tradable green certificate (TGC) system have been widely used to encourage renewable technology and mitigate greenhouse gas emissions. Previous studies have discussed the interaction between these market-based instruments and the electricity market from a theoretical perspective. This research contributes to the literature by empirically examining the interplay of carbon market, the TGC market, and electricity market using a vector autoregressive (VAR) model to investigate the price transmission between different markets. A VAR-BEKK-GARCH model, based on discrete wavelet decomposition, was used to reveal the spillover effect between the three markets over multiple time scales. Based on evidence from the partially deregulated electricity market in South Korea, we do not find a significant short-term interaction between carbon market and the TGC market through the price transmission. However, the analysis over multiple time scales demonstrates that the return spillover between the carbon market and the TGC market is positive and bidirectional in the medium-term and long-term. In addition, the policy integration may create higher price risks to the carbon market and the TGC market, resulting from long-term risk spillovers. We explain these contrasting findings and discuss implications for the future deployment of these policies.

Research on renewable energy consumption and emission reduction in power market based on bi-level decision making in China

Because of the commitment of carbon peaking and carbon neutralization, the power market, main based on thermal power, is under the policy's dual action of consumption pressure and CO2 emission reduction pressure. Therefore, renewable portfolio standard and green certificate trading policy are implemented. Based on the comparison of consumption pressure and emission reduction pressure, this study uses game theory to construct a bi-level decision-making model with the government and power plants as the main body, considering the maximization of social welfare, the upper and lower bounds of the green certificate trading market are deduced. The quotation of power plants in different scenarios and the participation of the green certificate trading market and carbon trading market decision making are simulated. The simulation results show: (1) Based on the current situation of power market, there is an optimal renewable portfolio standard to maximize social welfare. (2) The reasonable coexistence of renewable portfolio standard policy and carbon emissions trading policy will help power plants actively participate in the green certificate market and carbon market trading under rational decision-making, optimize the power supply structure, achieve high-quality electricity development, and realize the overall carbon emission reduction target.

Impacts of renewable portfolio standard on carbon emission peaking and tradable green certificate market: A system dynamics analysis method

With the announcement of the carbon peaking and carbon neutrality target in China as well as the launch of the nationwide green power renewable generation trading, one of the key issues is how to design an effective renewable portfolio standard (RPS) and build an efficient tradable green certificate (TGC) market. The quota that stipulates the share of electricity supplied from qualified renewable energy (RE) sources has substantial impacts on the TGC market, the electricity market, and the occurred time of carbon emission peaking. However, few studies have been reported on effectively quantifying the impacts of quota variation. Given this background, this paper presents an innovative system dynamics (SD) model to evaluate the impacts of quota variation on the trading results of the TGC market and the trend of carbon emissions in China for the next decade. The proposed SD model takes factors such as the accommodating capability by the power system for RE generation, the policy-driven carbon emission reduction target as well as the decreasing fixed feed-in tariff (FIT) for RE generation as constraints for the first time. These factors are quantified in the constraints based on the current RE policies and market trading mechanism in China to improve the evaluation accuracy of the SD model. Using real-world data, simulations under various scenarios are carried out to validate the feasibility and efficiency of the proposed model. The methods for further improving the design of TGC market are also further explored, which are expected to effectively guide China to achieve the carbon peaking target.

A Transition Mechanism for the Participation of Renewable Energy Generation Companies in Competitive Electricity Spot Markets

Under the China’s ‘dual carbon’ national goal–reaching peak carbon emissions by 2030 and achieving carbon neutrality by 2060, one of the key issues in China is how to smoothly transit from a fixed-price mode to a competitive market pricing mode for renewable energy generation companies. Aiming at minimizing governmental subsidies and maximizing the fairness among renewable energy generation companies, a multi-agent three-layer transition mechanism with the transactions of green certificates considered is proposed in this paper. Through adjusting subsidy policies, the developed transition mechanism can stimulate the renewable energy generation companies to gradually participate in the competitive electricity spot market. Specifically, a multi-market multi-agent transaction framework in the transition mechanism is first established. Then, in order to derive the important parameters of the transition mechanism, a method that decouples the electricity market and the green certificate market is designed. Finally, the feasibility and efficiency of the proposed transition mechanism are demonstrated through numerical examples.

Supply side incentive under the Renewable Portfolio Standards: A perspective of China

Renewable Portfolio Standards (RPS) is a mandatory institutional change to promote low-carbon energy transformation and renewable energy development. Its successful implementation requires the scientific design of relevant incentive mechanisms and rules. To make up for the defects in the current RPS mechanism design and the problems exposed in the Tradable Green Certificate (TGC) market, this paper takes China as an example and uses the system dynamics method to study the supply side incentives. The results show that: (1) Scientific setting the relevant system parameters of RPS (such as quota, benchmark price and penalty) and promoting the electricity market reform will effectively stimulate the power generation and investment on the supply side, and improve manufacturers' profit. (2) Higher quotas and lower benchmark prices can increase the manufacturers' power generation, profit and investment, and stimulate the supply side to conduct TGC transactions. However, when the penalty is set at different multiples of the benchmark price, the incentive effect on supply side power generation, investment and profit differ. (3) Marketed on-grid prices can significantly stimulate the supply side and promote renewable energy development. This paper can provide reference for the design of RPS incentive mechanism and institutional parameters.

Under the Influence of Commercial Values: Neoliberalized Business-Consumer Relations in the Swedish Certification Market, 1988–2018—ERRATUM

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Under the Influence of Commercial Values: Neoliberalized Business-Consumer Relations in the Swedish Certification Market, 1988–2018

Since the 1990s, a new model for market control organized through tripartite standards regimes (TSR), has expanded globally and affected most market exchanges through standard-setting, accreditation, and certification. This article investigates business-consumer relations under this regime, with a specific focus on the functions of accreditation and certification. In our case study of Sweden, a new picture of consumer protection under late capitalism evolves. Seeing it as a form of neoliberalization, the article uncovers a transition between two regimes of control; from one built on a potential conflict between consumer and business interests, to one based on the assumption that business interests are beneficial for all parties. Although business interest was formulated as pleasing the consumer—or the “customer”—by both certification firms and the Swedish Accreditation Authority, in practice consumer interest as something worth protecting was made abstract in the era of the TSR.

How can the cost and effectiveness of renewable portfolio standards be coordinated? Incentive mechanism design from the coevolution perspective

Renewable portfolio standards are essential means to promote the transition to low-carbon energy by encouraging obligated subjects to purchase tradable green certificates. However, the trade-off between Renewable portfolio standards' cost and effectiveness is a challenge for the government, because they want to support the development of renewable energy at the lowest cost. This paper constructs a coevolution model for a renewable energy system incorporating Renewable portfolio standards to explore how incentive mechanisms impact the cost and effectiveness of Renewable portfolio standards. The simulation results show that with the coevolution of the RE system, Renewable portfolio standards' effectiveness gradually rises; concurrently, its cost increases first before later decreasing. However, the path-dependence of the behavioural evolution of the tradable green certificate market players hinders further improvements in Renewable portfolio standards' cost-effectiveness. In addition, high quotas and price collars close to TGC value improve the cost-effectiveness, whilst the sloped penalty mechanisms, banking mechanisms with a valid period longer than one year, and borrowing mechanisms significantly reduce costs. On this basis, the government can design dynamic incentive mechanisms to guide the market players’ behavioural evolution and decrease costs whilst also ensuring effectiveness.

How does feed-in tariff and renewable portfolio standard evolve synergistically? An integrated approach of tripartite evolutionary game and system dynamics

In order to promote the healthy development of renewable energy, China has implemented Feed-in Tariff (FIT) and Renewable Portfolio Standard (RPS). However, due to the differences in natural conditions, social economy and renewable energy development, how does FIT and RPS evolve to achieve the best policy synergy is still a controversial issue. To explore the cooperation and evolution between FIT and RPS, we establish a tripartite evolutionary game model based on regulatory agencies, renewable energy companies and power grid companies to explore the evolution of FIT and RPS, and then combine a game model and a system dynamics model to simulate and analyze the policy effects of FIT and RPS. The findings of the study are: (1) Considering three aspects of the environment, economic benefits, and the consumption of renewable energy, RPS will replace FIT as the main RE policy if the introduction of tradable green certificate market is carried out in an orderly manner. (2) The faster the rate of decline of FIT subsidies and the rate of increase of RPS quotas, the faster the power market will reach stability. (3) It is essential to formulate a reasonable incentive and penalty mechanism in the regulation of the RPS system.

INTERNATIONAL VENDOR-NEUTRAL CERTIFICATION FOR INFORMATION SECURITY PROFESSIONALS

When looking for qualified specialists in the field of IT and information security employers give preferences to candidates with professional certificates from reliable and worldwide recognized organisations. Attracting certified professionals allows the company to make the most efficient use of its staff and thereby increase its competitiveness. For qualified specialist, the certificate is a guarantee of his competence and the basis of confidence in a successful professional career. Today, the market of IT and information security professional certification offers both certification programs from well-known software or hardware manufacturers, as well as vendor-neutral certifications, developed by expert organizations in this field and not related to the products of individual manufacturers. Vendor-neutral certification programs provide a comprehensive approach to information security and ensure that certified specialists acquire understanding of technical and managerial aspects of information protection, as well as possess a wide range of diverse knowledge and practical skills. The article researches the most popular and demanded on the market certification courses in information security from (ISC)2, ISACA, EC-Council and CompTIA. The authors found that reviewed certifications have the following common features: short training period of the certification programs, usually 5-7 days; joining both basic and specialized components within the courses; the use of well-known and mostly open hardware and software during training; combining various forms and methods of training: face-to-face and distance learning with an instructor, self-study, online tests and special learning platforms; conducting a comprehensive exam with the issuance of a certificate; three-year validity period of the certificate which must be confirmed through participation in scientific and practical activities in the specialty. The study of international certification for information security specialists in Ukraine showed that there are several companies-authorized providers of certification services: ISSP Training Center, Fast Lane Group, Kyiv Chapter of ISACA, PwC Ukraine, which certify information security professionals through vendor-neutral courses, as well as certification programs of software and hardware developers.

How to Activate Chinese Green Certificate Market? Based on Complex Network and Social Influence Analysis

How to Activate Chinese Green Certificate Market? Based on Complex Network and Social Influence Analysis

Low-Carbon Economic Dispatch Based on a CCPP-P2G Virtual Power Plant Considering Carbon Trading and Green Certificates

To improve the economic benefits of power systems in the process of achieving multi-energy complementation and decarbonization, this paper proposes a dispatching optimization model for virtual power plants (VPP) that considers carbon trading and green certificates. Firstly, the structure of the VPP system integrating wind and solar generators (WP and PV), power-to-gas (P2G), carbon capture power plants (CCPP) and price-based demand response (PBDR) is established. Secondly, the two-way interactive trading models among the VPP, carbon trading and green certification market are constructed. Then, the dispatching optimization model of the VPP is constructed. Finally, the numerical example is solved and analyzed by the chaotic particle swarm optimization algorithm, which verifies the rationality and effectiveness of the new model. The results show that: (1) when the VPP considers the CCPP-P2G, the cost of the system is reduced by USD 2550.48, while the CO2 emissions are reduced by nearly 50%; (2) the addition of PBDR reduces the CO2 emissions of the thermal power unit, which has reduced the cost of carbon tax by nearly 27.8%, further reducing the cost of the VPP; (3) the introduction of the carbon trading and green certificate market has reduced the operating cost of the VPP by nearly 22.24%.

Addressing Opportunities & Misunderstandings of ASCP International Certification in the Philippines

Abstract Introduction/Objective The objective of this study is to identify the positive viewpoints and misunderstandings Filipino applicants have about the BOC’s international credential and credential maintenance programs. With a total of 10,836 MLS(ASCPi) certificants, the Philippines is the BOC’s largest and most successful international certification market. However, despite the Philippines being the BOC’s largest international certification market, the BOC only certifies about a third of eligible Filipino graduates each year. Therefore, to encourage additional interest in achieving BOC credentials and to eliminate misunderstanding surrounding the BOC’s Credential Maintenance Program (CMP), the ASCP BOC International Credentialing Committee created and deployed a survey. The purpose of the survey was to learn as much as possible about the medical laboratory scientist certification market in the Philippines, as well as determine what opportunities Filipino‘s were afforded after they earned their credential. The resulting report based on analysis of the survey results showed there are a number of issues affecting Filipino participation in the BOC’s credential and CMP offerings. Methods/Case Report 422 individuals from 44 countries of education participated in the survey. This study is a summary of results from the 265 Filipino respondents. Results (if a Case Study enter NA) This study confirmed a number of assertions the BOC had about the Filipino credential market. The most important of these assertions is MLS(ASCPi) certification is appealing to Philippine- educated individuals due to its portability (i.e., work eligibility, emigration, etc.). Conclusion The BOC should continue leaning into the portability of MLS(ASCPi) certification, but also needs to do a better job of promoting our other international certifications for which Filipinos may be eligible. The BOC needs to place greater emphasis on educating Filipinos on the importance of CMP and on what can be used for CE towards CMP. For example, the BOC needs to create an outreach campaign that helps Filipino credential holders understand CE earned for their PRC (i.e., Philippines-licensure requirements) can also be used for their CMP. Finally, considering the popularity of BOC certification in the Philippines, the BOC should work on creating more content that focuses on promoting the usefulness of pursing an advanced credential, the portability of certification, and the overall demystification of CMP.

Impacts of renewable portfolio standards on multi-market coupling trading of renewable energy in China: A scenario-based system dynamics model

China implements brand new renewable portfolio standards (RPS) since 2020. Based on the newly issued RPS policy, this paper constructs the system dynamics (SD) model of the multi-market coupling trading system involving the renewable electricity market, the consumption above quota market, and the tradable green certificate (TGC) market. The simulation experiments based on six scenarios are conducted to explore impacts of policy parameters such as RPS quota planning goals, unit penalties, and TGC price ceilings. The results show that: (1) Not only does the new RPS affect the price and transaction volume of the multi-market, but it also promotes renewable power generation in China. (2) The RPS quota planning goals display significant influences on the multi-market stability and renewable energy production growth, but it's not that the higher the quota planning goal, the better its effects. (3) An appropriately higher unit fine compared to the TGC price cap is conducive to moderate market volatility and stimulate market consumer demand. (4) According to the current development of renewable energy in China, the 15% quota planning goal cooperates with a unit fine and a TGC price cap with a proper gap is favorable to achieve market equilibrium and moderately promote renewable energy power generation.

The effect of regulatory uncertainty in green certificate markets: Evidence from the Swedish-Norwegian market

European Commission favours market-based support policies, such as markets for tradable green certificates, to promote renewable energy. Meanwhile, these instruments have received critique for exposing investors to large price risk as the level of support is determined by the market price of certificates. Using a two-step procedure, this study builds upon the work of Fagiani and Hakvoort (2014) by firstly examining how regulatory interventions in the Swedish-Norwegian certificate market affect price volatility, focusing particularly on the period after Norway joined in 2012. The results show that interventions in the market exacerbate price risk by resulting in regimes of increased volatility. They indicate that, contrary to policymakers expectation, prices did not stabilise after the market integration with Norway. Employing a real options approach, the study further proceeds to demonstrate that price risk increases the threshold for immediate development of Swedish wind power projects; a one standard deviation increase in certificate price volatility is estimated to reduce the probability of project development by 12%. These findings illustrate that regulatory uncertainty in terms of high price volatility disrupts the investment climate in certificate markets, ultimately affecting cost-effectiveness of such policy.

How to Promote Energy Transition With Market Design: A Review on China’s Electric Power Sector

Energy transition, especially in the power industry, will lead to a significant promotion in energy sustainable development. Lots of emphases have been focused on the impact of policy on the energy transition; however, there were little studies on the role of the market. This paper will be devoted to the theoretical basis of market design comprehensively and discusses the obstacles restricting China’s energy transition by using an Institution-Economics-Technology-Behavior (IETB) analysis framework (four dimensions including Institution, Economics, Technology, and Behavior). In addition, the paper provides an overview of research findings on some available market designs related to the energy transition. Of note, power spot market, power capacity market, power futures market, carbon emission market, and Tradable Green Certificate (TGC) market are highlighted and discussed with emphasis. And the effects of implementing each market on overcoming those obstacles in the energy transition process are analyzed. The review results show that the market design is as important as the policy-making; hence, it is unwise for energy transition to focus on policies and ignore markets, and the market design should be pertinent and objective. Finally, some policy recommendations and market design suggestions are put forward.

Rapid visual detection of Aeromonas salmonicida by loop‐mediated isothermal amplification with hydroxynaphthol blue dye

To make crucial prevention, reduce fish losses and minimize the economic damage of diseases on the fish farm owners, a rapid detection of fish pathogens is mandatory. In this study, a loop-mediated isothermal amplification assay combined with hydroxynaphthol blue dye (LAMP-HNB) was developed and used for the rapid detection of Aeromonas salmonicida that caused significant economic losses in fish farming. Firstly, a pair of outer and inner primers specific for conserved fragment of vapA gene in A. salmonicida were designed and synthesized. Secondly, by optimizing the reaction conditions including reaction temperature, time, Mg2+ concentration, dNTP concentration and primer ratio, a LAMP-HNB assay was successfully established for the detection of A. salmoncida. Thirdly, the assay showed good specificity with no false-positive and false-negative results, and good sensitivity with the detection limit of 3.077×10-6 ng/μl, which was 102 times more sensitive than the conventional PCR. Finally, the LAMP-HNB assay was validated by the fish samples inoculated with different concentrations of A. salmoncida. This is the first development of rapid visual detection of A. salmonicida based on LAMP-HNB assay, which has great application prospect and market for diagnostic testing, health certification and active surveillance programmers.

How to promote the effective implementation of China’s Renewable Portfolio Standards considering non-neutral technology?

Renewable Portfolio Standards (RPS), as the strategic requirement effectively fits the top-level institution design of China's low-carbon energy transition, will help to promote China's energy structure optimization and power market reform. The success of its implementation depends on the scientific quasi-parameters design of the system. At present, China's tradeable green certificate (TGC) market is still in the voluntary trading stage. There are differences in natural attributes and transaction prices, resulting in the market segmentation and market distortion of the TGC market. Considering the non-neutral technology, this paper uses system dynamics to construct a long-term trading model under China's RPS, and analyzes the impact of relevant system quasi-parameters on the market trading process. The results show that:(1) The scientific quasi-parameters design of the RPS, such as technical conversion coefficient, TGC valid period, TGC benchmark price and RPS quota, will encourage and guide manufacturers to conduct TGC transactions, which will promote the development of renewable energy. (2) The introduction of the technical conversion coefficient can effectively promote TGC transactions, improve China's social welfare and optimize the power source structure. Therefore, the scientific design of the relevant quasi-parameters and strengthening of the supervision mechanism are conducive to implementing the RPS effectively in China.

Effects of herding behavior of tradable green certificate market players on market efficiency: insights from heterogeneous agent model

Tradable green certificate (TGC) scheme promotes the development of renewable energy industry which currently has a dual effect on economy and environment. TGC market efficiency is reflected in stimulating renewable energy investment, but may be reduced by the herding behavior of market players. This paper proposes and simulates an artificial TGC market model which contains heterogeneous agents, communication structure, and regulatory rules to explore the characteristics of herding behavior and its effects on market efficiency. The results show that the evolution of herding behavior reduces information asymmetry and improves market efficiency, especially when the borrowing is allowed. In addition, the fundamental strategy is diffused by herding evolution, but TGC market efficiency may be remarkably reduced by herding with borrowing mechanism. Moreover, the herding behavior may evolve to an equilibrium where the revenue of market players is comparable, thus the fairness in TGC market is improved.