Core Viewpoint - The National Development and Reform Commission announced significant achievements in carbon peak and carbon neutrality goals over the past five years, highlighting China's progress in energy green and low-carbon transformation [1] Group 1: Energy Transition Achievements - The proportion of coal consumption in China decreased from 56.8% in 2020 to 53.2% in 2024 [1] - The share of non-fossil energy consumption increased from 15.9% to 19.8% during the same period [1] Group 2: Renewable Energy Development - China has the largest installed capacity of renewable energy generation globally and the fastest development speed, maintaining a dominant position in new installations [1] - As the world's largest clean energy exporter and investor, China has contributed significantly to global carbon reduction and green transition [1] Group 3: Cost Reduction in Renewable Energy - Over the past decade, the costs of wind and solar power generation have decreased by more than 60% and 80%, respectively [1]

河北省发展改革委副主任、省能源局局长姚运涛强调，构建新型电力系统是实现"双碳"目标、保障能源安全的关 键支撑，河北正加快构建新型电力系统，推动能源绿色低碳转型。 中国发展网讯 刘珊珊 记者张晶报道 8月15日，构建新型电力系统专题交流会在河北保定召开。作为2025全国生态 日京津冀活动暨第三届京津冀绿色发展大会的分论坛，交流会邀请政府代表、专家学者、企业精英等各界嘉宾， 解读最新政策、展示技术成果、分享标杆案例，为京津冀构建安全、高效、绿色的新型电力系统探索新路径。 此外，多名电力和能源企业代表展示了储能、多能互补等技术创新和应用实践。 本次交流会既是一场绿色技术盛宴，也是京津冀深入推进能源革命的行动宣言。京津冀将持续向全国输出"安全可 靠、灵活高效、绿色低碳"的能源转型解决方案，加快构建新型电力系统，为实现"双碳"目标注入新动能。 多位行业专家分享了前瞻思考。中国电力企业联合会规划发展部主任张琳深入解读了新型电力系统建设的国家战 略布局与路径；电力规划设计总院、电力发展研究院院长李哲系统阐述了新型电力系统的主要特征、总体形态和 未来展望；北京大学能源研究院副院长杨雷分享了对新型电力系统商业模式的思考；清华大 ...

Group 1 - The concept of "green mountains and clear waters are as valuable as mountains of gold and silver" has been deeply rooted in China for twenty years, driving profound changes in energy development towards a green and low-carbon transition [1] - By June 2025, China's non-fossil energy power generation capacity is expected to reach 2.22 billion kilowatts, accounting for over 60% of the total installed capacity, marking a historic milestone [1] - Since the 14th Five-Year Plan, China's energy consumption per unit of GDP has decreased by 11.6%, supporting an economic growth rate of approximately 5.5% with lower energy consumption [1] Group 2 - The national unified electricity market is accelerating construction, allowing enterprises and individuals to actively choose clean electricity through green electricity trading platforms [2] - The number of new energy vehicles in China has surpassed 35 million, with one in every two newly registered cars being a new energy vehicle [2] - Innovative energy technologies are driving the rise of low-carbon industries, with significant transformations observed in traditional coal ports and the establishment of clean energy bases in regions rich in resources [2] Group 3 - The transition to a green energy system is at a critical stage, emphasizing energy conservation and efficiency, as well as promoting green consumption [3] - The commitment to carbon neutrality is seen as a promise to future generations and a pathway to meet the public's demand for better ecological products and quality of life [3] - The energy revolution is viewed as a powerful force to promote harmony between humans and nature, aiming to create a prosperous ecological and industrial landscape [3]

Core Insights - China's pumped storage capacity has ranked first in the world for nine consecutive years, with Japan and the United States following in second and third place respectively [1] - The rapid growth of renewable energy sources like wind and solar power has led to significant decarbonization in the electricity system, but it also presents new technical challenges that require advanced solutions like pumped storage [1] - The development of pumped storage is crucial for supporting the transition to a new power system and achieving high-quality growth in the sector [1] Industry Development - As of the end of 2024, China's total installed capacity of pumped storage power stations is expected to reach 58.69 million kilowatts, with the East China region having the largest capacity [1] - The total approved and under construction capacity of pumped storage stations nationwide is approximately 200 million kilowatts [1] - The report highlights that China has a unique advantage in pumped storage resources, with a total potential capacity of about 160 million kilowatts identified across various provinces [2] Market Mechanism - Regions like Guangdong and Shandong have initiated pilot projects for pumped storage to participate in electricity market trading, indicating a shift towards market-oriented operations [2] - The current electricity market is evolving, with auxiliary service markets starting to develop, but challenges remain for pumped storage to fully engage in the market [2] - Recommendations include establishing differentiated pilot projects and improving market mechanisms to enhance operational capabilities and ensure orderly implementation of plans [2] Pricing Mechanism - A reasonable pricing mechanism is essential for the sustainable development of the industry, with the current two-part pricing policy supporting investment returns and rapid growth [3] - As the national electricity market reform progresses, there is a need to transition the pricing policy towards market-based mechanisms, potentially adopting a "benchmark capacity price + difference contract" model [3] - Emphasis on technological advancements is crucial for enhancing the competitiveness of pumped storage, with a focus on innovation and cost reduction throughout the project lifecycle [3]

Group 1: China's Green Energy Transition - China is leading the global green and low-carbon energy transition, with significant growth in renewable energy installations in 2025 [1][30] - By the end of June 2025, China's renewable energy installed capacity reached 2.159 billion kilowatts, accounting for approximately 59.2% of total installed capacity [10][21] - In the first half of 2025, renewable energy installations totaled 268 million kilowatts, a year-on-year increase of 99.3%, with wind and solar power contributing significantly [9][20] Group 2: Renewable Energy Cost Competitiveness - The International Renewable Energy Agency reported that renewable energy helped avoid $467 billion in fossil fuel expenditures globally in 2024, confirming its cost-effectiveness [3][25] - The levelized cost of electricity (LCOE) for new utility-scale onshore wind projects was $0.034 per kWh, making it the cheapest renewable energy source [3][26] - The total installed cost (TIC) for solar photovoltaic technology is projected to drop to $388 per kilowatt in the next five years [3][26] Group 3: Global Energy Market Restructuring - The global energy market is undergoing significant restructuring due to rising geopolitical risks and the need for energy security, with countries reevaluating their energy strategies [2][5] - Six structural changes are identified as reshaping the energy market, including the impact of Middle Eastern conflicts on oil prices and the push for LNG diversification [5][6] - The International Energy Agency forecasts a slowdown in global natural gas demand growth in 2025, followed by an acceleration in 2026 [7][8] Group 4: Energy Storage and Technological Advancements - China's new energy storage industry is transitioning from early commercialization to large-scale development, with significant increases in installed capacity [18][19] - The average storage duration for new energy storage projects in China has increased to 2.3 hours, reflecting advancements in technology [19][34] - The integration of artificial intelligence in energy management is expected to enhance efficiency while also increasing energy consumption [6][27] Group 5: Future Projections and Challenges - By the end of 2025, non-fossil energy generation capacity in China is expected to reach approximately 240 million kilowatts, accounting for about 61% of total installed capacity [20][21] - The rapid expansion of renewable energy brings challenges such as volatility in generation, insufficient storage facilities, and limited grid capacity [16][31] - The report suggests building a multi-layered, diversified energy supply system to mitigate energy security risks [17][32]

"电力系统实时平衡的特性，要求我们必须拥有快速、灵活的调节资源来应对新能源波动和负荷高峰的 双重考验。"国网山西电力调控中心相关负责人表示，这次大规模集中调用，正是为了实战检验新型储 能和虚拟电厂在关键时刻的顶峰能力和应急响应速度，为构建更安全、更灵活的新型电力系统积累经 验。 此次成功调用整合了全省新型储能与虚拟电厂的调节能力，山西电网对新型调节资源的规模化、协同化 调度应用迈出坚实一步。 据介绍，8月1日晚间用电高峰时段，山西电网集中调度47座储能电站、16座虚拟电厂参与用电负荷调 节，供电、用电双向调节最大功率达到225万千瓦，其中新型储能141万千瓦、虚拟电厂84万千瓦，占实 时用电负荷的比重达到6%。 近年来，山西作为我国能源革命综合改革试点，积极推动能源绿色低碳转型，新能源装机规模持续快速 增长。今年上半年，全省新能源装机容量达7568万千瓦。然而，新能源发电固有的波动性与间歇性，叠 加高温天气下空调负荷激增形成的"双峰"压力，给电网安全稳定运行带来挑战。 中化新网讯 近日，山西首次开展集中大规模调用新型储能和虚拟电厂，释放225万千瓦调节能力。 ...

Group 1: Core Insights - The establishment of China Yajiang Group Co., Ltd. marks the formation of the 99th central enterprise, coinciding with the groundbreaking of the Yarlung Zangbo River downstream hydropower project, which has a total investment of approximately 1.2 trillion yuan [1] - The Yajiang hydropower project is expected to have an installed capacity of nearly 70 million kilowatts and an annual power generation of 300 billion kilowatt-hours, sufficient to meet the annual electricity needs of 300 million people and replace 90 million tons of standard coal, reducing carbon dioxide emissions by 300 million tons [1][3] - The project is a significant step in China's clean energy development and is anticipated to drive economic growth in the western region, reshaping the global energy landscape [1] Group 2: Economic Impact - The Yajiang hydropower project is projected to create over 200 billion yuan in annual fiscal revenue for Tibet, enhancing the region's economic integration with other areas and improving the quality of life for its residents [5][6] - The total investment of 1.2 trillion yuan represents 88.7% of China's total water conservancy investment for 2024 and is six times the annual total investment amount for Tibet, indicating a substantial impact on regional economic growth and clean energy development [6][7] - The construction phase is expected to directly employ 80,000 workers and indirectly create 200,000 jobs, significantly boosting local employment opportunities [7] Group 3: Environmental and Technological Aspects - The Yajiang hydropower project will enhance the utilization rate of water resources to 85%, surpassing the conventional rate of 60% to 70%, and is expected to reduce carbon emissions by 360 million tons annually, which is 3.5% of the national total [3][4] - The project will promote the development of surrounding solar and wind energy resources, creating a complementary clean energy system that improves energy efficiency [3] - The construction will adhere to the highest industry standards for ecological protection, minimizing impacts on sensitive environmental areas and preserving original ecosystems [3][4]

Core Insights - The People's Bank of China Qinghai Branch reported a reasonable growth in total deposits and loans in Qinghai Province, reflecting the implementation of a moderately loose monetary policy and support for the real economy [1][2] Financial Overview - As of the end of June, the total balance of deposits in Qinghai Province was CNY 839.51 billion, a year-on-year increase of 4.6%, with an addition of CNY 11.16 billion in the first half of the year [1] - The total balance of loans in Qinghai Province was CNY 794.54 billion, a year-on-year increase of 1.2%, with an addition of CNY 7.72 billion in the first half of the year [1] Sector-Specific Insights - Industrial loans reached CNY 218.85 billion, a year-on-year increase of 9%, marking the highest level in five years, supporting major projects and financing needs [1][2] - Manufacturing loans amounted to CNY 42.95 billion, with a significant year-on-year increase of 27.2%, and the new loans in the first half were 11.8 times higher than the same period last year [2] - Green loans totaled CNY 213.11 billion, accounting for 26.8% of all loans, with energy transition loans at CNY 153.34 billion, representing 72% of green loans [2] - Inclusive micro-loans reached CNY 51.59 billion, a year-on-year increase of 9.2%, supporting 126,000 micro-enterprises [2] - Technology loans in the information transmission and technology services sectors reached CNY 2.06 billion, with a year-on-year increase of 77.6%, indicating strong support for tech enterprises [2] Consumer Loan Insights - Household consumption loans totaled CNY 114.3 billion, with a year-on-year increase of 10.1%, reflecting the impact of government consumption policies [3] - Personal housing loans increased by CNY 4.12 billion, a year-on-year growth of 10.9%, while other consumption loans grew by 9.1% [3]

Core Viewpoint - Shanxi has successfully implemented large-scale deployment of new energy storage and virtual power plants, demonstrating a significant adjustment capacity of 225,000 kilowatts during peak electricity demand periods [2][4]. Group 1: Energy Storage and Virtual Power Plants - On August 1, during peak electricity demand, Shanxi coordinated 47 energy storage stations and 16 virtual power plants, achieving a maximum power adjustment of 225,000 kilowatts, with new energy storage contributing 141,000 kilowatts and virtual power plants 84,000 kilowatts, accounting for 6% of real-time electricity load [2][3]. - The maximum fluctuation of new energy output reached 2,626,000 kilowatts, which is 57% of the operational capacity of thermal power units, indicating the increasing difficulty of relying solely on traditional power sources for grid stability [4]. Group 2: Operational Strategy and Future Plans - The operation focused on three core aspects: real scenarios, scientific scheduling, and safeguarding rights, with precise selection of periods when new energy output was low and electricity demand was high to simulate real grid balancing challenges [3][5]. - The next steps include deepening the collaborative scheduling mechanism for adjustment resources, optimizing processes and technical support, and improving market rules to fully activate the adjustment potential of "energy storage + virtual power plants" [5].

Core Insights - Jilin Province is transitioning from a coal-dominated energy structure to a diversified renewable energy model, focusing on wind, solar, and hydrogen energy [1][3][4] - The province has achieved a significant increase in installed renewable energy capacity, reaching 31.21 million kilowatts, which accounts for 63.93% of the total installed capacity [1] - Key projects include the world's largest green ammonia production facility with an annual capacity of 180,000 tons and the first large-scale green methanol production project in the country [3] Group 1: Energy Transition - Jilin Province's installed power generation capacity reached 48.81 million kilowatts by the end of June, marking a year-on-year growth of 9.62% [1] - Renewable energy sources, including hydropower, wind power, solar power, biomass, and waste-to-energy, saw a year-on-year increase of 15.79% [1] - The province is recognized as one of the first five pilot provinces for hydrogen energy in the country [1][3] Group 2: Key Projects - The Daan Wind-Solar Green Hydrogen Integrated Ammonia Demonstration Project has been launched, with an expected annual carbon reduction of 650,000 tons [3] - The Taining City Wind Power Coupled Biomass Green Methanol Integrated Demonstration Project has successfully produced the first batch of large-scale green methanol [3] - The construction of the 100,000-kilowatt solar thermal project in Baicheng is nearing completion, expected to provide 180 million kilowatt-hours of clean electricity annually [3] Group 3: Industry Development - Jilin Province is developing ten provincial-level coordinated green energy industrial parks across its eastern, central, and western regions [3] - The energy industry is shifting from traditional energy reliance to new energy driving growth, extending from renewable energy base construction to a full industrial chain [3][4] - The province is focused on creating a new energy system characterized by new energy structures, forms, and strong low-carbon supply chains [4]