China-europe energy storage sales

What is China's energy storage capacity?

China has total energy storage capacity of about 35 GW as of 2020, of which only 3.3 GW was new energy storage, according to the China Energy Storage Alliance.

Why is energy storage important in China?

Energy storage systems are pivotal in enabling the uptake of new energy. China's energy storage sector is advanced in technology and production, and can meet massive market needs in Europe," said Lin Boqiang, head of the China Institute for Studies in Energy Policy at Xiamen University.

What is a large energy storage system?

Large, or grid-scale, energy storage systems enable the integration of renewable energy sources, which may have intermittent or variable output depending on weather conditions, into an energy grid while enhancing stability and reliability.

Should Chinese energy companies collaborate with foreign producers?

Alex Zhu, energy, infrastructure advisory, and carbon neutrality leader at Ernst & Young (China), emphasized the importance of Chinese energy companies forming strong collaborative ties with local producers in foreign markets. "The focus should be on expanding value chains, sharing benefits and jointly managing risks with local enterprises.

What does China-Europe Cooperation mean for manufacturing?

It also signifies deeper China-Europe cooperation in manufacturing rather than just sales within this sector, to reduce risks from geopolitical tensions and trade conflicts, they said.