What is China doing with new energy storage?

In just a few short years, China’s scale of new energy storage has ranked first in the world. New models and new business forms are developing vigorously, with smart microgrids, virtual power plants and others entering the fast lane of development.

What is China's energy storage capacity?

China has total energy storage capacity of about 35 GW as of 2020, of which only 3.3 GW was new energy storage, according to the China Energy Storage Alliance.

Why is energy storage important in China?

Experts said developing energy storage is an important step in China's transition from fossil fuels to a renewable energy mix, while mitigating the impact of new energy's randomness, volatility, intermittence on the grid and managing power supply and demand.

How big is China's power storage industry?

Industry estimates show that China's power storage industry will have up to 100 million kilowatts of installed capacity by 2025, and 420 million kW installed capacity by 2060, attracting related investment of over 1.6 trillion yuan, said Li Jie, general manager of power storage at State Grid Integrated Energy Service Group Co Ltd.