The work examines the tasks associated with the analysis and assessment of the effectiveness of investment strategies of generating companies, taking into account the stimulation of the development of renewable energy generation based on the mechanism of green certificates and market pricing mechanisms. The paper proposes a mathematical model that allows, based on numerical modeling, to study the problem of analyzing the functioning of the “green certificates” market and its impact on the development of renewable energy sources. The review, a publication on this issue, shows that the proposed approach is relevant and contributes to analyzing the RES market. These studies are relevant for Russia as part of the Energy Transition Program.