With schemes to promote electricity generation from renewable energy sources (RES) is becoming an important part of climate policy worldwide, there is considerable interest in the understanding on how different market-based mechanism affects firms' performance in the power generation sector in practice.The existing theory have provided conflicting guidance whether Tradable Green Certificate (TGC) or Feed-in-Tariff (FIT) type policies provides the most cost efficient outcome for electricity consumers in terms of the minimum profits for power generators. The main goal of the study is to empirically assess the performance (in terms of profits) of power generation firms operating in TGC scheme environment relative to those operating under alternative RES support scheme mechanisms. Findings from the study suggest that, firms operating under the TGC schemes are associated with higher returns compared to those operating under alternative RES schemes.