CITIC Securities: From Exclusive to Shared, Green Power Direct Connection Enters a New Phase 中信证券：从独享到共享，绿电直连迈入新阶段

Background

The article is based on a research report from CITIC Securities, focusing on policy developments in China's green electricity market. It highlights a shift in the "green electricity direct connection" model, which allows power users to directly connect to nearby renewable energy sources, moving beyond exclusive single-user arrangements to a shared, multi-user framework.

Key Points

Policy Evolution: The core shift is from "single-user exclusive enjoyment to cluster-based sharing" for green electricity direct connections. This iteration is explicitly designed to lower the entry barrier for small and medium-sized enterprises (SMEs) to access green power.

Mechanism Innovation: The new policy is built on several key operational mechanisms to improve effectiveness:

• Localized Consumption: Prioritizing the use of renewable energy within the local area where it is generated.
• Source-Load Coordination: Synchronizing the operation of power generation sources with consumer load profiles.
• Traceability and Rights Confirmation: Establishing clear systems to trace the origin of green power and confirm the associated environmental attributes, ensuring credibility for end-users.

Strategic Function: These mechanisms are not just technical improvements; they are recognized as critical institutional innovations. They serve two overarching national goals:

1. Enhancing New Energy Consumption: Solving the challenge of integrating variable renewable energy into the grid.
2. Empowering Industrial Low-Carbon Upgrading: Providing a tangible tool for industries to transition towards lower carbon emissions.

Future Outlook and Drivers: The report posits that multi-user green electricity direct connections will become a vital instrument for several strategic objectives. Its growth is expected to be driven by:

• The rollout of detailed implementation rules by local governments.
• The perfection of supporting regulatory and market mechanisms.
• The continued decrease in energy storage system costs.

Significance

The analysis underscores that this policy model is strategically positioned at the intersection of energy system transformation and industrial decarbonization. By making green power more accessible and verifiable, it directly supports:

• Zero-Carbon Industrial Parks: Providing a scalable and credible renewable energy solution for dedicated economic zones.
• Industrial Low-Carbon Transition: Offering a pathway for manufacturing and other sectors to source clean energy and reduce their carbon footprint.
• New-Type Power System Construction: Facilitating a more decentralized, flexible, and consumption-driven grid architecture through distributed, coordinated generation and load.

In essence, the evolution of green electricity direct connection is framed as a foundational tool that operationalizes high-level national climate and energy policies into market-accessible solutions, particularly for smaller businesses.

背景与问题

绿电直连模式正经历从单用户独享向集群共享的迭代，旨在解决中小企业绿电接入门槛较高的问题。这一转变响应了新型电力系统与双碳建设的需求，通过共享机制提升新能源的可及性和消纳效率。

核心内容

新政依托以下关键机制推动绿电直连发展：

• 就近消纳：优化电力消费模式，减少传输损耗。
• 源荷协同：协调电源与负荷，提高系统灵活性。
• 溯源确权机制：确保绿电来源可追溯，增强可信度。

这些机制共同提升新能源消纳水平，并赋能产业低碳升级，被视为新型电力系统与双碳建设的重要制度创新。

意义与影响

未来，随着以下条件的完善，多用户绿电直连料将发挥更大作用：

• 地方落地细则出台：细化政策执行，增强可操作性。
• 配套调节机制完善：提升电力系统稳定性和适应性。
• 储能成本持续下降：降低储能部署门槛，促进绿电整合。

这将使多用户绿电直连成为以下领域的重要手段：

• 零碳园区建设：推动园区能源结构绿色转型。
• 产业低碳转型：助力企业减少碳排放，实现可持续发展。
• 新型电力系统构建：支撑电网智能化和分布式能源整合。