An AVIC Securities report projected major growth for China's power storage sector in the years to come: The country's electrochemical power storage scale is likely to reach 55.9 gigawatts by 2025-16 times higher than that of 2020-and the power storage development can generate a 100-billi
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The country aims to cut the cost of electrochemical energy storage systems by 30% by 2025, according to a five-year plan released by the National Development and Reform Commission and the National Energy Administration.
China is targeting new-type energy storage installed capacity of 30 gigawatts by 2025, part of efforts to boost renewable power consumption and ensure grid stability, according to a statement by the National Development and Reform Commission and the NEA.
In 2022, 194 electrochemical storage stations were put into operation, with a total stored energy of 7.9GWh. These accounted for 60.2% of the total energy stored by stations in operation, a year-on-year increase of 176% (Figure 4).
The plan specified development goals for new energy storage in China, by 2025, new energy storage technologies will step into a large-scale development period and meet the conditions for large-scale commercial applications.
In terms of developments in China, 19 members of the National Power Safety Production Committee operated a total of 472 electrochemical storage stations as of the end of 2022, with a total stored energy of 14.1GWh, a year-on-year increase of 127%.
The learning rate of China's electrochemical energy storage is 13 % (±2 %). The cost of China's electrochemical energy storage will be reduced rapidly. Annual installed capacity will reach a stable level of around 210GWh in 2035. The LCOS will be reached the most economical price point in 2027 optimistically.
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