Mainland China accounts for most of the global energy storage demand, driven in the near term by regional requirements for new utility-scale wind and solar projects to include energy storage capacity. However, the Chinese market is entering an era of change.
According to the report, China''s energy storage sector has maintained a rapid growth momentum from 2023, with new energy storage capacity expanding from 8.7 million kilowatts in 2022 to 31.39 million kW last year. On the other hand, new energy storage plants in China are increasingly shifting toward centralized, large-scale installations, it said.
She also suggested refining market systems to boost efficiency and strengthen safety management alongside innovative pilot programs, so as to foster the high-quality, sustainable development of China''s new energy storage industry.
While China''s policy framework for the new energy storage sector is progressively shifting to support large-scale, market-driven growth, Hu suggests further enhancing grid integration and dispatch mechanisms while accelerating the expansion of energy storage.
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