Hangzhou, Zhejiang Plans to Add Over 1 GW of New Renewable Energy and Energy Storage by 2024

Hangzhou, Zhejiang: Over 1 GW of New Renewable Energy and New Energy Storage Capacity to be Added by 2024

Recently, the Hangzhou Municipal Government in Zhejiang issued the "Several Policies to Further Promote High-Quality Economic Development". It proposed the addition of over 1 million kilowatts of new renewable energy and new energy storage capacity throughout the year. The continuous and comprehensive implementation of the "Implementation Measures of the Cost Sharing Mechanism for Electricity Access Projects at the Hangzhou Municipal Level" aims to reduce the burden of electricity access for the whole society. It also promotes the entry of industrial and commercial users into the electricity market, striving to achieve a market trading volume of over 45 billion kilowatt-hours throughout the year, with a year-on-year decrease of at least 1% in trading costs per kilowatt-hour.