The new-type energy storage sector is embracing massive opportunities in China as the country has been promoting storage technologies in accordance with a massive wind and solar capacity build-out to allow exports of large-scale clean energy to other regions, Li said.
Enhancing the lifespan and power output of energy storage systems should be the main emphasis of research. The focus of current energy storage system trends is on enhancing current technologies to boost their effectiveness, lower prices, and expand their flexibility to various applications.
The 30 GW includes storage using electrochemical, compressed air, flywheel and super-capacitor systems, except pumped hydro. The country aims to cut the cost of electrochemical energy storage systems by 30 percent by 2025, according to a five-year plan by NDRC, and complete the commercialization of new-type energy storage systems by 2030.
The future of energy storage is full of potential, with technological advancements making it faster and more efficient. Investing in research and development for better energy storage technologies is essential to reduce our reliance on fossil fuels, reduce emissions, and create a more resilient energy system.
China is targeting new-type energy storage installed capacity of 30 gigawatts by 2025, part of efforts to boost renewable power consumption and ensure grid stability, according to a statement by the National Development and Reform Commission and the NEA.
Electrical Energy Storage (EES) is an emerging technology that stores energy for short periods and releases it when needed. EES systems are ideal for applications such as peak shaving, electric vehicles, grid stability, and energy management.