(CFP)
In the first half of this year, the green electricity trading volume in Jiangsu Province increased by 210% year-on-year to 9.7 billion kilowatt-hours.
The first six months saw over 1.55 million green electricity certificates transacted in the coastal province, and the annual trading volume is estimated to reach 12 billion kilowatt-hours.
Each certificate represents 1,000 kWh of electricity generated from renewable energy. Jiangsu is one of the first provinces in China to initiate green electricity certificate trading, issuing 6.52 million certificates in the first half of this year alone.
At the business hall of State Grid Xinwu District Power Supply Company, it only takes minutes for enterprises to purchase through the China Green Electricity Certificate Trading Platform, which provides comprehensive information about hundreds of renewable energy projects in the country, such as electricity prices and inventories.
Beyond Wuxi, Jiangsu has also established service stations in Nanjing and Changzhou, providing targeted solutions to enterprises facing challenges in green electricity and certificate trading.
Suzhou Industrial Park (SIP), home to 104 Fortune 500 companies and over 5,000 foreign-invested enterprises, has seen a surge in demand for green electricity, driven by supply chain requirements and concerns about carbon tariffs. Meanwhile, this eco-friendly move also helps companies enhance brand value and global competitiveness.
To encourage enterprises to increase their consumption of green electricity, the SIP, one of the first national-level carbon peaking pilot parks, introduced measures in 2022 to scale up distributed photovoltaic projects.
According to preliminary data, enterprises in the industrial park used 1.85 billion kilowatt-hours of green electricity in 2023, accounting for 20% of their industrial electricity consumption, a figure expected to increase further this year.
As a powerhouse of foreign trade, Jiangsu has seen an increasing proportion of green electricity consumption among its enterprises. Data from the Jiangsu Provincial Electricity Exchange Center shows that the number of entities participating in green electricity trading has increased from the initially 20 to 120,000, covering energy, chemicals, electronics, catering and environmental protection sectors.
