The number of users participating in green energy trading in East China’s Zhejiang province has surpassed 12,000 households by the end of Aug, marking a 16-fold increase compared to 2022, latest figures show.

Since the launch of green energy trading in Zhejiang in July 2021, the total volume of energy traded has risen from 300 million kilowatt-hours in 2021 to 6.5 billion kilowatt-hours by the end of August this year, representing a nearly 22-fold increase. The number of green energy trading users has grown from 33 households in 2021 to 12,085 households by the end of August this year.

According to Deng Hui, a researcher from the State Grid Zhejiang Electric Power Research Institute, green energy trading helps activate the environmental value of clean and renewable energy sources such as solar and wind power, providing sustained value-added income for new energy generation enterprises and promoting the widespread participation of society in clean energy consumption and low-carbon energy transformation.

In addition, Zhejiang has pioneered the normalization of continuous market openings for green energy trading within the province, organizing green energy trading regularly and aiming to further improve the institutional mechanisms for green energy trading. By the end of Aug this year, a total of 83 green energy trading sessions had been conducted.