Feb 29, 2024 08:03 PM

BUSINESS

Wind and Solar Power Traded on China’s Electricity Market Doubles in Two Years

By Zhao Xuan, Chen Zhuoyu and You Xiaoying

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A solar thermal power plant under construction on Jan. 23 in Northwest China’s Gansu province. Photo: VCG

A solar thermal power plant under construction on Jan. 23 in Northwest China’s Gansu province. Photo: VCG

Nearly half of the power traded on China’s electricity market in 2023 came from wind and solar plants, doubling from just two years ago, according to an energy expert.

The portion of “new energy”— which refers to wind and solar energy — in the total amount of power traded last year surged to 44%, up from 22% in 2021 and 32% in 2022, according to figures released at an industry seminar held in Beijing on Tuesday.

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