As China pursues its dual carbon goals, the installed capacity of renewable energy continues to grow across the country, and the proportion of non-fossil energy consumption steadily increases.
To play its part in this major national endeavor, State Grid Wenzhou Power Supply Company is promoting "green certificate" power supply to further encourage the consumption of renewable energy among local enterprises.
Green certificates are given to green electricity generated from renewable energy sources. They are electronic certificates with special identification codes. One green certificate unit is equivalent to 1,000 kilowatt-hours of renewable energy.
Since the green certificate pilot project began in September 2021, China's green electricity trading policy system has steadily developed.
According to official data, in the first eight months of this year, Zhejiang province conducted green electricity trading for 7.9 billion kWh, a 22.73 percent increase year-on-year.
In the Nanxi River region, a place renowned for its printing and papermaking industry, State Grid Wenzhou Power Supply Company helped conduct 96,755 green certificate trades in industries such as papermaking, traditional high-energy-consumption and high-emission sectors, equivalent to 96.76 billion kWh of renewable energy. The effort has helped enterprises to reduce their carbon emissions and improve their energy utilization efficiency, bringing them economic benefits.
In the campaign to promote the use of clean and low-carbon energy, it is crucial to establish an electricity market providing certified green energy based on the traditional electricity market. In the next step, the company plans to promote more green energy projects and drive enterprises toward a green, low-carbon and sustainable development path.
