New energy storage sector sees fast growth
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.
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.
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The development of new energy storage is accelerating. According to the research report released at the "Energy Storage Industry 2023 Review and 2024 Outlook" conference, the
China''s new energy storage sector saw rapid growth in 2024, with installed capacity surpassing 70 million kilowatts, said an official with
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New energy storage refers to energy storage technologies other than conventional pump storage. An energy storage system charges when wind power or photovoltaic power generates a large volume of electricity or when the power consumption is low, and it discharges otherwise. China's operational efficiency of new energy storage continues to improve.
"New energy storage plays an essential regulatory role in the new power system, significantly promoting the development and consumption of renewable energy," Bian said. New energy storage features a high intensity of technology and a long industrial chain, and encompasses multiple sectors.
Bian Guangqi, deputy director-general of the NEA's energy saving and technology equipment department, said that by the end of 2024, total installed capacity of new energy storage projects in China reached 73.76 million kW, which represented an increase of over 130 percent compared to the end of 2023.