Key facts
- China's power market reforms are expanding to include electricity retailers and end users.
- Opportunities are emerging in energy storage, virtual power plants, and power trading.
- PCG Power Chairman Li Wenxuan believes a significant increase in renewable energy capacity could lead to greater mismatches between supply and demand.
China's ongoing power market overhaul is shifting focus from generators to electricity retailers and end users, according to Li Wenxuan, chairman of distributed renewable energy developer PCG Power Technology Co. Ltd. This transition is creating new avenues for growth in areas such as energy storage, virtual power plants, and power trading.
Li noted that if China's renewable energy capacity doubles over the next decade, as targeted, the existing mismatch between renewable power supply and electricity demand could become more pronounced. PCG Power operates an 11.5 megawatt distributed solar project in Jiaxing, Zhejiang province.