Six major prediction indicators for china s energy storage industry

What will China's energy storage systems look like in 2024?

Furthermore, the sustained growth in the demand for utility-scale Energy Storage Systems (ESS), driven by challenges in the consumption of wind and solar energy, is noteworthy. TrendForce predicts that China's new utility-scale installations could reach 24.8 gigawatts and 55 gigawatt-hours in 2024.

Why is energy demand forecasting a problem in China?

In terms of research methodology, forecasting models are uneven, multiple methods interact, the scenarios are not integrated with the latest development status and policy guidelines of China, and the structure of energy demand forecasting is not highly refined.

What is China's energy demand?

China's energy demand was studied for the next forty years by the LEAP model. Four dynamic scenarios were set up based on the LEAP model. China's total energy demand shows an “inverted U-shaped” development trend. The critical sector for achieving China's carbon neutrality goal is industry.

What is the future of storage in China?

Compressed air, sodium-ion, flywheel, and gravity storage systems are finding their way to the grid. Meanwhile, the lithium-ion sector is evolving new safety solutions and system design with higher energy density. Policy guidance and strong renewables growth have been the key drivers of storage deployment in China.

Will China's energy storage policy triple our capacity forecast?

China’s proposed policy to accelerate energy storage deployments – with a target to take its energy storage capacity to 30 gigawatts (GW) by 2025 – could triple our current capacity forecast. The five-year timeframe could prove challenging from an economic standpoint, but China has good reason to push ahead.

Can a leap model predict China's future energy demand and energy structure?

Future research suggestion This study constructs the LEAP model to forecast China's future energy demand and energy structure, which has some limitations. Firstly, this paper only examines energy demand, and in the future, we will further analyze China's carbon emissions and explore peak versus achieving a net-zero emission vintage.