China Provincial Green Electricity Market Construction: Status and Prospects

This report, released in February 2025 by Tsinghua Sichuan Energy Internet Research Institute and Greenpeace, examines the current state and future of China's provincial green electricity markets. It highlights that provincial markets are central to China's electricity system, with differences in resources, economy, and demand shaping unique mechanisms under national guidance. The study covers global renewable energy trends, key market challenges like power imbalance and revenue risks, and supporting mechanisms such as ancillary services and green certificates. It analyzes eight typical provinces (e.g., Guangdong, Shanxi, Gansu) focusing on spot markets, ancillary services, capacity, and green power trading. Findings show accelerated spot market construction, reduced guaranteed hours for renewables, and innovative practices like government-authorized contracts. The report offers policy and enterprise recommendations to enhance green electricity consumption and renewable energy development, aiming for a unified national market by 2029.