The country aims to achieve more than 180 million kilowatts of installed new-type energy storage capacity by 2027, which is expected to drive approximately 250 billion yuan (about 35.2 billion U.S. dollars) in direct project investment, according to the plan jointly released.
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First of all, the country plans to significantly increase its renewable energy supply by developing large-scale wind and solar power bases, particularly in desert and arid
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According to the report, China's energy storage sector has maintained a rapid growth momentum from 2023, with new energy storage capacity expanding from 8.7 million kilowatts in 2022 to 31.39 million kW last year. On the other hand, new energy storage plants in China are increasingly shifting toward centralized, large-scale installations, it said.
Li added that China's dominance in energy storage technology, particularly in battery cell production, places it in a leading position to shape global storage standards. At the end of the first half, power storage capacity in China surpassed 100 GW, reaching 103.3 GW, a 47 percent year-on-year increase.
The installed capacity is expected to exceed 100 GW. Looking further into the future, breakthroughs in high-safety, long-life, low-cost battery technology will lead to the widespread adoption of energy storage, especially electrochemical energy storage, across the entire energy landscape, including the generation, grid, and load sides.
Geographically, the top five provincial-level regions in China for cumulative installed capacity of new energy storage are Inner Mongolia autonomous region, Xinjiang Uygur autonomous region, Shandong province, Jiangsu province and Ningxia Hui autonomous region.
China's momentum in energy storage reflects a blend of strategic policy support, technological innovation, and strong industry partnerships, said Li. "The government has made clear commitments to renewable energy and carbon neutrality, setting ambitious targets that accelerate demand for advanced storage solutions.
The capacity of GW level energy storage application will be more mature and the cost will drop to ¥500–700 per kWh as shown in Figure 3. The installed capacity is expected to exceed 100 GW.
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