Home » Zhejiang Green Power Trading Surpasses 10,000 Users, Marking Significant Growth in the Market

Zhejiang Green Power Trading Surpasses 10,000 Users, Marking Significant Growth in the Market

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Zhejiang Green Power Trading Users Surpass 10,000, Fostering Sustainable Development in Clean Energy Consumption

Zhejiang, China – The Zhejiang Power Trading Center has announced that the number of green power trading users in the province has exceeded 10,000, reaching an impressive 12,085 by the end of August. Among these users, export-oriented enterprises, retail companies, and central energy companies have emerged as the main players in the vibrant green power trading market.

In a groundbreaking move, Zhejiang initiated green electricity trading in 2021, with a transaction volume of 300 million kWh. However, the figures for the first eight months of 2023 have skyrocketed to a substantial 6.5 billion kWh, nearly 22 times the total for the entire year of 2021. Furthermore, the number of green power trading users has escalated from a mere 33 at the end of 2021 to an impressive 12,085 by the end of August this year.

Shenzhou International Group Holding Co., Ltd., a dedicated knitting manufacturer situated in Beilun District, Ningbo City, has been at the forefront of this transformative shift. Over the past three years, the company has procured over 70 million kWh of green electricity, playing a significant role in enhancing its international competitiveness. He Kai, the Director of the Sustainable Development Department, emphasized how overseas customers value the carbon emissions associated with product production and their alignment with green and low-carbon standards. “Purchasing green electricity not only contributes to ‘carbon neutrality and carbon peak’ but also helps to enhance the product’s international competitiveness,” stated He Kai.

Blockchain technology has been pivotal in facilitating the traceability of green electricity within the Zhejiang Power Trading Center. This implementation enables the recording of crucial information throughout the entire green electricity value chain, including production, transactions, transmission, consumption, and settlements. The Power Trading Center has also introduced a convenient two-dimensional code traceability query service that allows for transparent and well-documented green power transactions.

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Deng Hui, the Director of the Power Market Technology Office at the State Grid Zhejiang Electric Power Research Institute, emphasized the significance of green power trading in optimizing resource allocation and meeting the green power consumption and certification demands of enterprises. He stated, “Green power trading can give full play to the market’s role in optimizing the allocation of resources. While meeting the green power consumption and certification needs of enterprises, it also provides sustainable development and value-added benefits for new energy power generation companies, thereby promoting the participation of the whole society in clean energy consumption and low-carbon transformation.”

As Zhejiang continues to make strides in its commitment to clean energy and sustainability, the surge in green power trading users signifies a positive shift towards a greener future. With an increasing number of businesses recognizing the importance of green electricity consumption, Zhejiang sets a commendable example for the rest of the world to follow.

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