Abstract: The implementation of the renewable portfolio standards and tradable green certificate scheme will exert significant influences on the complex relationship between the trans-provincial electricity market and the tradable green certificate. To quantitatively investigate these influences, firstly, trans-provincial electricity trading market structure under the renewable portfolio standards was established. Secondly, from the perspective of the difference of power generation cost among provinces and relevant theories of microeconomics, a joint equilibrium model of the thermal power market and the renewable energy power market was proposed. Finally, the electricity market equilibrium under different renewable energy quotas was analyzed through simulation examples. Simulation results show that the amount of renewable energy climbs up and then declines with the continuous increase of renewable energy quotas, and the price of green certificate first rises and then falls. At the same time, the total cost of various provinces presents inverted U-shaped distribution along with the increase of quota, and the total cost of various provinces participating in trans-provincial green certificate transactions under the renewable portfolio standards is lower than that when various provinces has not participated in the transaction. The proposed model can discover the true positive externality value of renewable energy in a market way and guides the government scientifically setting quotas, and promote the cross-regional accommodation of renewable energy.