We have Good News for battery storage in China, and we have Bad News, and we have Good News again. Production is going up. Installations are going up. Costs are coming down. But covid-19 and erratic policy changes are temporary roadblocks.
China reaches 1.7 GW of electrochemical storage capacity
According to new numbers released by the China Energy Storage Alliance, the country’s storage capacity topped 32.4 GW at the end of last year. The association said the storage market is expected to continue to grow steadily in the years ahead.
China’s electrochemical energy storage market grew 59.4% thanks to 636.9 MW of newly installed capacity last year, according to figures released by the China Energy Storage Alliance (Cnesa) from its Global Energy Storage Project Database.
Overall energy storage growth was particularly strong in China in the last two years, with 8.1 GW of new capacity, of which around 1.45 GW was electrochemical. “The cause of this rapid growth was not just a small base in the initial development stages, but the creation of conditions conducive to industry development,” said the industry body.