China is building twice as much wind and solar production capacity than the rest of the world combined, according to recent estimates. This success for the country’s decarbonization goals also has wider consequences on power grid management.
The rapid growth in wind and solar is putting pressure on part of the grid, confirming the need to partly shift towards energy storage technologies, particularly battery storage, that are crucial for balancing the grid.
China’s energy storage market is consequently expected to experience a significant growth, with an installed capacity that grew by 40% in the first half of 2024, and is expected to reach 300 gigawatts of battery storage by 2030.