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In this study, the current situation of energy storage is first summarized. Furthermore, from the aspects of the European Union Commission and the Member States, this study introduces the
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Simultaneously, the European Union has made regular revisions to top-level policies and power market regulations to promote large-scale energy storage development and provide favorable conditions for energy storage to participate in the power market on a greater scale, which is instructive for China.
Energy storage is developing rapidly with the advantages of high flexibility, fast response time, and ample room for technological progress. China encourages energy storage to provide auxiliary power services to meet the needs of new power systems.
The most critical challenge among them is the high level of policy uncertainty. China's energy storage incentive policies are imperfect, and there are problems such as insufficient local policy implementation and lack of long-term mechanisms .
At this stage, the investment threshold for energy storage to involvement in China's peaking auxiliary services is 0.1068 USD/kWh. In comparison, the current average peak and off-peak power price difference in China is approximately 0.0728–0.0873 USD/kWh.
Despite the Chinese government's introduction of a range of policies to motivate energy storage technology investment, the investment in this field in China still faces a multitude of challenges . The most critical challenge among them is the high level of policy uncertainty.
Subsidies of at least 0.169 yuan/kWh to trigger energy storage technology investment. Energy storage technology is one of the critical supporting technologies to achieve carbon neutrality target. However, the investment in energy storage technology in China faces policy and other uncertain factors.
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