What is China's new energy storage know-how?

Recently, China saw a diversifying new energy storage know-how. Lithium-ion batteries accounted for 97.4 percent of China's new-type energy storage capacity at the end of 2023. Aside from the lithium-ion battery, which is a dominant type, technical routes such as compressed air, liquid flow battery and flywheel storage are being developed rapidly.

Does China support energy storage technology research and development?

It is entirely consistent with the fact that the Chinese government and enterprises have increased their support for energy storage technology research and development during China's 12th Five-Year Plan and 13th Five-Year Plan period. 2.2.

What are the application scenarios of energy storage in China?

It also introduces the application scenarios of energy storage on the power generation side, transmission and distribution side, user side and microgrid of the power system in detail. Section 3 introduces six business models of energy storage in China and analyzes their practical applications.

Will energy storage play a role in China's future power system?

As the Chinese government proposes ambitious plans to promote low-carbon transition, energy storage will play a pivotal role in China’s future power system.

How to develop China's energy storage industry?

Finally, in line with the development expectations of China’s future electricity market, suggestions are proposed from four aspects: Market environment construction, electricity price formation mechanism, cost sharing path, and policy subsidy mechanism, to promote the healthy and rapid development of China’s energy storage industry. 1. Introduction

How does China promote battery storage?

To promote battery storage, China has implemented a number of policies, most notably the gradual rollout since 2017 of the “mandatory allocation of energy storage” policy (强制配储政策), which is also known as the “ new energy plus storage ” model (新能源+储能).