What does it mean to install more renewable energy than coal power

The installed capacity of renewable energy exceeds that of coal power, which means restructuring the market mechanism. Historically, through multiple rounds of power system reform, China has solved the contradictions of insufficient power supply, weak power grid, and power consumption, and promoted the rapid development of the power industry and economic society. To achieve the goal of "double carbon" requires more diversified energy varieties and market entities to cooperate, which puts forward new tasks and new requirements for deepening the construction of the power market. Not only the theoretical basis and trading rules of the power market need to be reconstructed, but also the difficulty of coordinating the interests of market entities is increasing, and the trading rules and values of the power market are becoming more complex. The different values of all kinds of resources need to be reflected in the market. It is necessary to further deepen the reform of the electricity market to achieve a green and low-carbon transition at the best cost and ensure sustainable electricity supply.

An era of renewable energy also means that everyone can become an energy producer. In the era of traditional fossil energy, energy production is highly concentrated and capital intensive, and it is difficult for ordinary people to participate in energy production. Renewable energy is widely distributed, flexible layout, low marginal cost, and strong personal accessibility, and now rooftop photovoltaic has become an important way for ordinary people to participate in energy production. With the progress of technology and the continuous reduction of costs, the popularity of home energy storage, small fans, and two-way charging piles, everyone has the opportunity to become an important unit of power system balance in the future, which will bring major changes to our lives, and will also give birth to new business opportunities and economic growth points.

In short, the installed scale of renewable energy beyond coal power is a milestone, which means that the construction of new energy system has entered a new stage. The "14th Five-Year Plan" period is a critical period for China to accelerate the green and low-carbon energy transformation and implement the nationally determined contribution to address climate change. We should seize the opportunities of The Times and further promote the high-quality development of renewable energy on the basis of the leap-forward development of the "13th Five-Year Plan".