Abstract:
As the acceleration of the low-carbon transition of energy system, the installed capacity of renewable energy generation in China has continued to climb, driving the clean and low-carbon development of the power system while simultaneously posing greater challenges to its safe and stable operation. As a global leader in renewable energy development, China faces an increasingly complex landscape in the construction of its new power system and the high-quality development of renewable energy. The urgent task now is to adapt to the characteristics of power systems with a high proportion of renewable energy, improve market mechanisms, and establish a unified power market system. This paper begins by examining the current state of China's power market construction and identifying the prominent challenges faced by renewable energy participation in the power market. It then focuses on reviewing the experiences of international power markets with a high proportion of renewable energy, conducting an in-depth analysis of the key designs of these markets, and summarizing common issues and solutions encountered in the construction of unified power markets. Finally, drawing heavily on international power market construction experience and taking into account China's unique circumstances, the article proposes relevant suggestions for the construction goal of a unified power market system with a high proportion of renewable energy.