The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is witnessing remarkable changes in its economy, as seen through diverse power usage data.
Green transition: Single green certificate trade reaches 24.82 million units
The transition to green and low-carbon energy is a cornerstone of China’s drive for sustainable development.
Recent data released at the 2024 Pearl Bay International Climate Investment and Financing Conference showed a steady expansion in Guangdong’s green electricity trading since its inception in 2021. Cumulative transactions have exceeded 12 billion kilowatt-hours.
One example is GAC Toyota, a major automaker based in Guangzhou’s Nansha district, which recorded 23.48 million kWh of green electricity transactions from January to October this year — reducing carbon dioxide emissions by 15,416.65 tons.
Demand for green electricity and certificates continues to grow in the GBA. In the first 10 months of 2024, Guangzhou’s green electricity trading volume reached 1.14 billion kWh, a year-on-year increase of 119 percent, while Shenzhen recorded 1.38 billion kWh, up 180 percent.
In July, Guangdong Energy Group Co., Ltd. and Shenzhen Energy Group Co., Ltd led 654 entities in completing the nation’s largest single green certificate transaction to date, involving 24.82 million units.
Across the five provinces and regions served by China Southern Power Grid (CSG), non-fossil fuel energy now accounts for 63 percent of installed capacity, with nearly 180 million kW of new energy capacity making it the largest energy source in the region.
From world-class hydropower stations in the Jinsha River Canyon to photovoltaic panels on barren hills and wind turbines along the coasts and mountains, green energy is continuously transmitted to the Pearl River Delta and the South China Sea.
Industrial transformation: Shenzhen's supercharging stations surpass gas stations
From January to November this year, the charging services on CSG’s “Shun Yi Chong” platform grew by 30 percent, with daily peak electricity consumption surpassing 7 million kWh — a record high.
Notably, by the end of April, the number of supercharging stations in Shenzhen exceeded that of traditional gas stations. By year-end, Shenzhen is expected to host 1,000 supercharging stations.
These achievements underscore the rapid growth of the GBA’s new energy vehicle (NEV) industry.
Industry is the main battlefield for green development. In the first 10 months of this year, Guangzhou’s electricity consumption in emerging industries and new fields reached 10.07 billion kWh, a year-on-year increase of 18.78 percent. Electricity consumption in photovoltaic equipment and component manufacturing soared by 224.33 percent to 37.74 million kWh.
Digital power: Virtual power plants generate 170 million yuan in direct economic benefits
At the International Digital Energy Expo 2024, held in September, Shenzhen Power Supply Bureau’s virtual power plant was a major highlight.
A virtual power plant is not a physical facility but an advanced energy management system. By leveraging energy internet technologies, it regulates scattered power loads such as charging stations, air conditioning, lighting and energy storage to achieve peak-valley balancing.
Shenzhen’s virtual power plant currently integrates over 55,000 adjustable load resources, including charging piles, building air conditioning systems and photovoltaic installations, with a total capacity exceeding 3.1 million kW.
According to CSG, as of November, Shenzhen’s virtual power plant management center had collaborated with 56 operators, conducted over 100 precise demand responses, and generated approximately 18.01 million yuan ($2.47 million) in benefits for operators, with direct economic benefits amounting to 170 million yuan.
As a major province of the digital economy, Guangdong’s digital economy reached 6.9 trillion yuan in 2023, ranking first in the country for eight years running.
To meet the demands of emerging industries like new energy and digital technology, CSG has embraced next-generation digital tools such as cloud computing, big data and artificial intelligence to modernize the traditional grid.
Currently, it has achieved full coverage of 220 kV and above lines UAV inspection, 99.5 percent substation intelligent robot monitoring, and 94 percent effective coverage of distribution automation. Digital technology enables the power grid to significantly improve the observable, adjustable and controllable level.
“The thriving digital economy in the GBA provides abundant technical resources for digital grid development, which in turn offers strong support for further digital economic growth”, said Huang He, general manager of the power dispatching control center of the CSG.
(Executive editor: Zhu Zeya)
