China's green electricity trading sees massive growth

China's green electricity trading has seen significant growth in the first eight months of this year, with the National Energy Administration issuing more than 1.84 billion green certificates nationwide by the end of August 2024, according to the National Energy Administration.

The scale of green electricity trading in Shanghai meanwhile also reached 2.5 times that of the previous year, a record high, State Grid Shanghai Municipal Electric Power Company said.

During the January-August period, Shanghai issued a total of 20 million green certificates and helped enterprises purchase nearly 5 billion kWh of green electricity with 161 inter-provincial green electricity transactions, a significant increase over 2023, it said.

Shanghai released the green electricity consumption accounting list for the first time on June 7th. The list is the first batch of green electricity consumption accounting vouchers in China that are traceable and rigorously certified. Based on this, Shanghai has built an authoritative and credible green electricity consumption certification system with unified domestic standards, it said.

China's growing green electricity trading makes consumption of green electricity continue to heat up, with application scenarios flourishing everywhere. In order to better absorb the green electricity delivered from multiple provinces, Shanghai is accelerating the promotion of new green electricity consumption scenarios, aiming to stimulate enthusiasm for green electricity consumption among various users and striving to become a benchmark city for green electricity consumption.

As the city's government has vowed to enhance the integration and interaction between electric vehicles and the power grid, Jiading District, as the core hub for Shanghai's new energy vehicle production cluster, is actively working to build a pilot area for green electricity consumption, fully tapping into the flexible regulation potential of electric vehicles and charging facilities, and leveraging their role in the consumption of renewable energy.

Shanghai has introduced the Chaoji (super) charging pile, which enables new energy vehicles to run for 400 kilometers via 12 minutes' charging with charging efficiency five times that of ordinary charging piles.

According to Shanghai Jiading Electric Power Supply Company, the electricity consumption of supercharging stations in Jiading District, a cluster of new energy vehicle industry in the city, reached 15,930,300 kWh in 2023.

This year, due to the extremely high-temperature weather, the charging load of new energy vehicles has increased, and as of July 31, the electricity consumption reached 8,840,800 kWh, it said.