Luoyang, Henan province has used discarded and scrap renminbi banknotes to generate biomass power for the first time in China.
Burning one ton of scrap banknotes can produce up to 660 kilowatt-hours of electricity, iFeng News reports.
While damaged money is typically taken out of circulation and burned in China, scrap currency has been used to generate biomass power in Luoyang since April this year. Luoyang was chosen to carry out the project due to favorable factors including location, technology, security and transportation.
The old banknotes were used to generate electricity after they’d been gathered and shredded at a local bank branch. It’s estimated that 1.32 million kilowatt-hours of power can be produced each year by incinerating unusable banknotes.
The method is expected to be expanded to other cities in China.
By Lucy Liu
[Images via NetEase]