Energy storage industry development city

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.

How will China's new-energy storage industry grow by 2027?

Photo: VCG China has unveiled an action plan to boost full-chain development of the new-energy storage manufacturing industry, aiming to expand leading enterprises by 2027, enhance innovation and competitiveness, and achieve high-end, intelligent and green industry growth.

What is China's new energy storage plan?

The plan said that the new-energy storage industry is a key source of support for advancing the construction of a manufacturing powerhouse and promoting the efficient development and utilization of new-energy resources. By 2027, China aims to cultivate three to five leading enterprises in the ecosystem.

How big is China's energy storage capacity?

According to a report recently issued by China Energy Storage Alliance (CNESA), by the end of 2022, China's cumulative installed capacity of new energy storage reached 13.1 gigawatts, with an annual growth rate of 128 percent.

What is new energy storage?

New energy storage refers to energy-storage technologies other than conventional pump storage, including lithium-ion batteries, liquid flow batteries, flywheel, compressed air, hydrogen and ammonia, as well as heat and cold energy storage.

What is MIIT's new energy storage plan?

The plan, jointly issued by eight departments including the Ministry of Industry and Information Technology (MIIT) on Monday, seeks to foster high-quality development in the new-energy storage manufacturing.