The effective coordination of the electricity market

the carbon market

the green certificate market

and other environmental rights systems is an effective means to promote the low-carbon development of China's power system and achieve the "dual carbon" goal. However

there are many types of environmentally friendly products in China. For example

the tradable green certificate (TGC) and China Certified Emission Reduction (CCER)

one of the products in carbon markets

are both calculated and issued for renewable energy

which may have duplication of incentives

and it is difficult to guarantee the uniqueness of the environmental value of electricity. Thus

there is an urgent need to explore a mutual conversion mechanism between these products. The existing mutual conversion mechanism is mainly based on a fixed coefficient

which cannot reflect the differences in emission reduction results caused by new energy units at different times

so it is difficult to encourage low-carbon resources to optimize their output

which is not conducive to the reduction of carbon emissions across the system. Therefore

this paper proposes a carbon-green certificate mutual conversion mechanism based on Marginal Carbon Intensity (MCI). The MCI of new energy units with time-varying characteristics are used as the recognition coefficient to characterize the carbon emission reduction benefits in different periods and provide incentives and guidance for wind storage

solar storage and other resources. First

this paper establishes a calculation model for the MCI of new energy units

and designs a carbon-green certificate mutual conversion mechanism. Secondly

with the optimization goal of maximizing social welfare

a joint clearing model of the electricity-carbon-green certificate market considering the mutual conversion of carbon-green certificates was constructed

and the market efficiency evaluation indicators were constructed from three aspects: carbon emissions

new energy consumption and social welfare. Finally

a benefit analysis example is carried out to prove the effectiveness of the proposed carbon-green certificate mutual conversion mechanism.