Will China's energy storage industry grow through 2027?

[Photo/Xinhua] China's energy storage industry is set to experience significant growth through 2027, fueled by a combination of growing market demand and supportive government policies, according to industry experts and company executives.

How big is China's energy storage capacity?

Sign up here. Current installed new energy storage capacity, which is made up mostly of lithium-ion battery storage, was 95 GW as of June, the regulator, the National Energy Administration, said in August. China has raced ahead of its energy storage targets in the past.

Will China's energy storage manufacturing industry lead the world?

China's energy storage manufacturing industry is already at the forefront of global standards and will continue to lead the industry in advanced power trading and grid integration technologies in the future, said Tian Qingjun, senior vice-president of Envision Group.

Does China have a competitive edge in energy storage?

China now possesses core technologies across the entire industry value chain, giving it a competitive edge in the field. This strengthens and complements China's leadership in the renewable energy and electric vehicle sectors, he said. China released 770 energy storage-related policies in 2024, with 77 issued at the national level.

How can energy storage technology improve China's Energy System?

"Key developments in energy storage technologies will play a pivotal role in integrating renewable energy sources and smart grids, thus enhancing the overall flexibility and efficiency of China's energy system," said Fei Zhi, vice-chairman of GCL Group.

What are the leading energy storage battery companies in China?

Leading energy storage battery companies in China include BYD (002594.SZ), which is also the country's biggest electric vehicle maker, and CATL (300750.SZ).