On September 7, the country that consumes more power than any other nation introduced green energy trading. Two regions in China, Beijing and Guangzhou, were selected for the initial introduction of what will become the national green power trading market. Although it is still a pilot program, the market is expected to have far-reaching impacts on China’s energy transition away from coal. What do you need to know about it? Vincent Shaw in Shangahi sets out the details.
The green energy trading platform is expected to reduce curtailment for many large wind and solar projects by establishing a direct channel to purchase power generated by China’s enormous wind and solar PV fleet.
Put simply, China’s newly launched green power trade market allows power consumers to buy “green” electricity, such as that generated by wind and solar, directly from generators through an open market. In China, the former structure of the national power market only offered transaction services for conventional energy, which is predominantly coal-fired. Renewable energy was not guaranteed by the national grid operator and was not freely traded between producers and consumers. With this green power trade market, green power will now be further commercialised.
Part of the article excerpted from the network, infringement contact deleted.
