China is rapidly expanding its energy storage facilities to absorb record-breaking levels of renewable energy generated from intermittent wind and solar sources to ensure a stable power supply, as the country works towards having 80 per cent of its total energy mix from non-fossil fuel s
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China is rapidly expanding its energy storage facilities to absorb record-breaking levels of renewable energy generated from intermittent wind and solar sources to ensure a stable power...
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BEIJING, July 31 -- China's energy storage capacity is expanding to facilitate the utilization of growing renewable power amid the country's efforts to advance its green energy transition.
Overall capacity in the new-type energy storage sector reached 31.39 gigawatts (GW) by the end of 2023, representing a year-on-year increase of more than 260 per cent and almost 10 times the capacity in 2020, China’s National Energy Administration (NEA) said in a press conference on Friday.
China’s energy storage sector nearly quadrupled its capacity from new technologies such as lithium-ion batteries over the past year, after attracting more than 100 billion yuan (US$13.9 billion) in direct investment over the past couple of years.
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.
China is currently in the early stage of commercializing energy storage. As of 2017, the cumulative installed capacity of energy storage in China was 28.9 GW , accounting for only 1.6% of the total power generating capacity (1777 GW ), which is still far below the goal set by the State Grid of China (i.e., 4%–5% by 2020) .
Total investment in building energy storage projects has exceeded 100 billion yuan since 2021, making the sector a “new driving force” for China’s economic development, said Bian Guangqi, an NEA official.
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