China’s battery storage capacity is likely to see reduced levels of growth in 2024, according to a newly released whitepaper.
The Energy Storage Industry Research White Paper, produced by non-profit industry association the China Energy Storage Alliance (CNESA), has suggested that China could add around 30.1GW of new energy storage capacity in 2024, a drop of almost 4.5GW from 2023’s total of 34.5GW.
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That figure is at the lower end of the whitepaper’s estimated range, however, with a more “ideal” landscape allowing for potential capacity growth of up to 19%, the CNESA suggests. That would see added capacity hit 41.2GW this year.
Most of any growth in capacity is expected to be in the field of lithium-ion (Li-ion) battery energy storage.
Estimates suggest that China’s cumulative installed capacity could hit a total of 195.75GW by 2030.
China is the world leader in the global production of battery energy storage systems (BESS) and Li-ion battery plants. Half of Asia’s 16 upcoming battery energy storage projects – which themselves represent 59% of the world’s planned projects – are set for development in China.
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By GlobalDataThe country plays host to multiple huge projects including the Shujiatang BESS, which has a rated power of 100,000 kilowatt-hours (kWh), and the Hubei Yingcheng Compressed Air Energy Storage System Set I, with a rated storage capacity of 150,000kWh.
Multiple other projects are in the pipeline, including the 2.4 million-kilowatt Kubuqi Desert Project.
