Digging for gold in these sub-sectors of the new energy storage industry

Will China achieve full market-oriented development of new energy storage by 2030?

The country has vowed to realize the full market-oriented development of new energy storage by 2030, as part of efforts to boost renewable power consumption while ensuring stable operation of the electric grid system, a statement released by the National Development and Reform Commission and the National Energy Administration said.

How a new energy storage system is developing in China?

Dai Jianfeng, a deputy chief engineer of China Electric Power Planning and Engineering Institute, said the new energy storage in China has been developed through diverse technology routes. According to him, lithium-ion battery is still dominant at present, but the development of compressed air and liquid flow battery is accelerating.

Why is China promoting energy storage at the 2025 two sessions?

The buzzword “energy storage” at the 2025 Two Sessions underscores China’s strategic focus on building a resilient, sustainable, and diverse energy system, contributing new efforts to a sustainable global future. The country’s progress in new-type energy storage highlights how innovation can drive both economic and environmental progress worldwide.

Will China's new energy storage sector grow in 2024?

BEIJING — China's new energy storage sector saw rapid growth in 2024, with installed capacity surpassing 70 million kilowatts, said an official with the National Energy Administration.

What is the future of energy storage in China?

In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. 2023 was a breakthrough year for industrial and commercial energy storage in China. Projections show significant growth for the future.

What will China's energy storage demand look like in 2023?

We expect the demand for additional energy storage capacity in mainland China to reach 43 GWh in 2023 and 129 GWh in 2025, indicating a 1.8x annual growth in 2023 and an expected compound annual growth rate (CAGR) of 103% from 2022 to 2025. This year, the commissioning of grid-connected energy storage projects in the US was slightly delayed.