Development of energy storage industry construction

Will the energy storage industry thrive in the next stage?

The energy storage industry is going through a critical period of transition from the early commercial stage to development on a large scale. Whether it can thrive in the next stage depends on its economics.

Is energy storage a precondition for large-scale integration and consumption?

So to speak, energy storage is the precondition of large-scale integration and consumption of RES. However, China's energy storage industry is at the exploration stage and far from commercialization. This restricts the development of RES to certain extent. For this reason, this paper will concentrate on China's energy storage industry.

What was the growth rate of energy storage industry in 2015?

Driven by the Euramerican and Asia-Pacific market, worldwide energy storage industry experienced fast development in 2015. According to CNESA, global cumulative installed capacity of energy storage system was 946.8 MW (excluding PSS, CAES and heat storage) by the end of 2015 and the growth rate was 12.7% compared with year 2014.

Why are energy storage technologies important?

They are also strategically important for international competition. KPMG China and the Electric Transportation & Energy Storage Association of the China Electricity Council (‘CEC’) released the New Energy Storage Technologies Empower Energy Transition report at the 2023 China International Energy Storage Conference.

What is the implementation plan for the development of new energy storage?

In January 2022, the National Development and Reform Commission and the National Energy Administration jointly issued the Implementation Plan for the Development of New Energy Storage during the 14th Five-Year Plan Period, emphasizing the fundamental role of new energy storage technologies in a new power system.

Is energy storage a key innovation field in China?

In November 2014, the State Council of China issued the Strategic Action Plan for energy development (2014–2020), confirming energy storage as one of the 9 key innovation fields and 20 key innovation directions.