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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.

Can China scale up energy storage investments?

This study explores the challenges and opportunities of China's domestic and international roles in scaling up energy storage investments. China aims to increase its share of primary energy from renewable energy sources from 16.6% in 2021 to 25% by 2030, as outlined in the nationally determined contribution .

When will energy storage technology be commercialized?

By 2025, the large-scale commercialization of new energy storage technologies 1 with more than 30 GW of installed non-hydro energy storage capacity will be achieved; and by 2030, market-oriented development will be realized .

How many energy storage projects were approved in 2021?

In 2021, there were 136 approved energy storage projects, comprising 131 electrochemical and 5 pumped hydro storage projects.

Should energy storage technologies be included in emerging infrastructure asset classes?

To meet investor demand, all types of new energy storage technologies need to be included as the emerging infrastructure asset classes, which have not yet been introduced by the NDRC .

Can energy storage solve renewable intermittency issues?

To achieve this target, energy storage is one of the most promising solutions for addressing renewable intermittency issues by balancing electricity demand and supply, which is increasingly a challenge in power systems.