2023 dual carbon new energy storage policy

How has China's Dual carbon goal impacted energy storage?

BEIJING, July 1 -- China's dual carbon goal and targeted policies have provided strong tailwinds, enabling the country's energy storage businesses to thrive amid the rapidly evolving market competition.

How does a dual-carbon target affect the energy storage industry?

The introduction of a dual-carbon target has had an impact on the intensity of subsidies and the development of the energy storage industry. Since the dual-carbon targets were put forward, the amount of government subsidies (SUBs) to the energy storage industry has continued to rise.

What is 'double carbon' target under 14th five-year plan?

“Double carbon” target during under “14th Five-Year Plan” period is estimated. The development of renewable energy (RE) is an effective solution to address the global greenhouse effect and climate change. China's government has enacted a series of RE policies that play an important role in regulating and developing strategy.

What is a 'dual carbon' goal?

Energy activities are the main source of carbon emissions, and the realization of the "dual carbon" goal cannot be separated from the green and low-carbon development of energy.

How many electrochemical storage stations are there in 2022?

In 2022, 194 electrochemical storage stations were put into operation, with a total stored energy of 7.9GWh. These accounted for 60.2% of the total energy stored by stations in operation, a year-on-year increase of 176% (Figure 4).

How big will electrochemical energy storage be by 2027?

Based on CNESA’s projections, the global installed capacity of electrochemical energy storage will reach 1138.9GWh by 2027, with a CAGR of 61% between 2021 and 2027, which is twice as high as that of the energy storage industry as a whole (Figure 3).