The latest data on the price of energy storage business parks in the country

How a domestic energy storage system compared to last year?

In the first half of the year, the capacity of domestic energy storage system which completed procurement process was nearly 34GWh, and the average bid price decreased by 14% compared with last year. In the first half of 2023, a total of 466 procurement information released by 276 enterprises were followed.

What was the average bid price for non-hydro energy storage systems in Q3?

In the first three quarters, the average bid price for domestic non-hydro energy storage systems (0.5C lithium iron phosphate systems) was 622.90 RMB/kWh, a year-on-year decline of 50%. While bid prices remained relatively stable in the first half of the year, they reached a historic low of 578.11 RMB/kWh in Q3, particularly in September.

How many energy storage systems have been installed in 2024?

Over 1.5 million residential systems have been installed, with over 400,000 added in the first three quarters of 2024. Join us in Beijing, Apr 2025, get connected with investors, EPC, OEM, researchers, and everything related to energy storage. Should you have any inquires, feel free to send email to [email protected], or register directly.

How much does a battery storage system cost?

Around the beginning of this year, BloombergNEF (BNEF) released its annual Battery Storage System Cost Survey, which found that global average turnkey energy storage system prices had fallen 40% from 2023 numbers to US$165/kWh in 2024.

Which country will have the highest energy storage capacity by 2026?

From an international perspective, the IEA estimates that China will have the highest installed electrochemical energy storage capacity by 2026, accounting for 22% of the global total. By then, China will be on a par with Europe and outstrip the US by 7 percentage points (Figure 5). 2.

How big is China's energy storage capacity?

According to incomplete statistics from CNESA DataLink Global Energy Storage Database, by the end of June 2023, the cumulative installed capacity of electrical energy storage projects commissioned in China was 70.2GW, with a year-on-year increase of 44%.