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Wenzhou launches Pilot Project on Distributed PV Carbon Asset Aggregation
Date:2021-04-16 11:01:21 Source:Wenzhou·China Fonts:[ Large Medium Small ]

Recently, the first three distributed PV users (including residential and corporate) signed the Wenzhou Distributed PV Carbon Asset Aggregation Cooperation Agreement in Yueqing, officially moving into the "Carbon Bank", which is the first attempt of carbon asset aggregation in the power system of Zhejiang Province, marking the official launch of China Certified Emission Reductions (CCER) trading of distributed PV carbon assets in Wenzhou.

It is learned that CCER is the abbreviation of Chinese Certified Emission Reduction, i.e. National Certified Voluntary Emission Reduction, which refers to the voluntary greenhouse gas emission reductions recorded by the National Development and Reform Commission and registered in the national registration system according to the transactions of China greenhouse gas voluntary emission reductions trading activities management measures (provisional). Carbon trading is the main path to achieve "carbon neutrality" and an important way to market renewable energy, which refers to the trading of getting greenhouse gas emission rights according to the law.

To avoid excess carbon emission, enterprises with insufficient emission allowances can purchase emission rights from enterprises with excess allowances and purchase a certain percentage of CCERs equal to the allowances for compliance. Since the price of CCERs is lower than the price of allowances, enterprises can complete compliance at a lower cost and earn revenue through emission reduction projects, which is helpful for further promotion of technological upgrading from high carbon to low carbon.

"The signing of this agreement is groundbreaking in Wenzhou", said the relevant person in charge of the State Grid Wenzhou Power Supply Company. Wenzhou has many PV distribution points, scattered, and small installed capacity. It is costly and difficult to carry out CCER certification alone. As the national carbon emission trading market will be launched in the end of June, State Grid Wenzhou Power Supply Company has seized the policy window and relied on Wenzhou Energy Data Center to establish the "Distributed PV Carbon Asset Virtual Bank", guiding local power supply companies to actively collect scattered CCER assets and assist distributed PV users in CCER certification, which contributes to the aggregation of regional supply-side market for carbon trading and speeding up the pace of carbon emission trading in Wenzhou.

Statistics from Wenzhou Energy Data Center show that there are more than 15,500 distributed grid-connected PV projects in Wenzhou, mainly distributed in Yueqing, Yongjia, and Rui'an, with a combined installed capacity of 464,000 kilowatts. Among them, there are more than 6,400 distributed PV single projects in Yueqing, whose installed capacity accounting for nearly 30% of the total in Wenzhou, having an obvious advantage of being the first to carry out distributed PV carbon resource aggregation trading. Under the support and guidance of State Grid Yueqing Power Supply Company, the first batch of contracted users will register the aggregated carbon emission reduction resources in the National Voluntary Emission Reduction Trading Register to obtain the "green certification", which can enter the national carbon emission trading market for trading after the certification.

Yueqing Linke New Energy Co., Ltd. is one of the three distributed PV signed users for this time. The company has 4 power stations in Yueqing, one of which can generate 1.4 million KWH a year. "In the past, our company's profit model relied on photovoltaic power generation to sell electricity. Since we enter the Carbon Asset Virtual Bank, we can increase an additional income in the future, that is to sell the carbon emissions saved from clean power generation to the 'carbon bank'." Lin Weiyi, as the Chairman of the Board of Linke New Energy Co., Ltd., calculated that this "extra income" can bring about 30,000 yuan a year for enterprise, "although it may not seem much money, it is a sustainable and real reward for the enterprises using green energy."

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