Is tuori new energy an energy storage business park

What is new energy storage?

New energy storage refers to energy storage technologies other than conventional pump storage. An energy storage system charges when wind power or photovoltaic power generates a large volume of electricity or when the power consumption is low, and it discharges otherwise. China's operational efficiency of new energy storage continues to improve.

Will China's new energy storage sector grow in 2024?

BEIJING — China's new energy storage sector saw rapid growth in 2024, with installed capacity surpassing 70 million kilowatts, said an official with the National Energy Administration.

Why is new energy storage important?

"New energy storage plays an essential regulatory role in the new power system, significantly promoting the development and consumption of renewable energy," Bian said. New energy storage features a high intensity of technology and a long industrial chain, and encompasses multiple sectors.

How big is China's energy storage capacity in 2024?

Bian Guangqi, deputy director-general of the NEA's energy saving and technology equipment department, said that by the end of 2024, total installed capacity of new energy storage projects in China reached 73.76 million kW, which represented an increase of over 130 percent compared to the end of 2023.

What percentage of energy projects are installed in 2024?

By the end of 2024, projects with an installed capacity of 100,000 kW or above accounted for 62.3 percent of the total, a rise of approximately 10 percentage points from 2023, while projects between 10,000 and 100,000 kW made up 32.8 percent, and those below 10,000 kW stood at 4.9 percent.

How long does energy storage last?

The average energy storage duration is 2.3 hours, an increase of about 0.2 hours since end-2023. New energy storage refers to energy storage technologies other than conventional pump storage.