As China's "dual carbon" goals progress, the country's renewable energy generation capacity continues to expand rapidly, and the demand for new energy storage technologies to support grid regulation has surged. According to the 2024 New Energy Storage Development Analysis Report published by the China State Grid Energy Research Institute’s New Energy Research Institute, China’s new energy storage capacity is steadily increasing, with storage stations being utilized more effectively to support the integration of renewable energy and ensure reliable power supply.
As of the end of September 2024, China has successfully built and commissioned 58.52 million kW of new energy storage capacity, equivalent to 128 million kWh, representing a nearly 86% increase compared to the end of 2023. From January to August 2024, the total charge and discharge volume for new energy storage reached approximately 26 billion kWh, with an average utilization time of about 620 hours. During the peak summer period from June to August 2024, the country’s energy storage systems accumulated 11.8 billion kWh in charge and discharge, accounting for about 45% of the total volume for the first eight months of the year. This contribution was crucial in stabilizing the grid and ensuring reliable power supply. In July 2024, the maximum available power from new energy storage in the State Grid service area reached 30.15 million kW, representing 92% of the installed capacity of new energy storage at that time.
The report highlights the importance of new energy storage in maintaining power supply stability, especially during peak demand, as well as providing backup and safety support. It recommends a coordinated approach to regulating various resources, optimizing scheduling and market mechanisms, and enhancing grid connection management to further integrate energy storage into the power supply system.
Technological Innovation Driving Diverse Energy Storage Solutions
The report also notes that technological innovations are driving the diversification of new energy storage technologies. Lithium-ion batteries, which have a mainstream capacity of 280Ah, are advancing towards larger capacities, longer lifespans, and improved safety. The system integration scale of lithium-ion battery storage has already surpassed the gigawatt-hour (GWh) level. All-vanadium flow battery storage is currently at the pilot demonstration stage with capacities reaching hundreds of megawatts, with key materials and components being domestically produced. Compressed air energy storage is transitioning from demonstration to commercialization, with the introduction of the first 300 MW advanced compressed air energy storage expansion machine, achieving a 20-30% reduction in system costs and a 3-5% improvement in efficiency. Flywheel energy storage has made progress in modular integration design, with a 30 MW demonstration project for grid frequency regulation now in operation. Sodium-ion battery storage, still in the pilot phase, has successfully demonstrated the application of this technology in a 100 MW large-capacity energy storage station for the first time.
Globally, several key trends are expected to shape the energy storage sector by 2025, including:
These trends reflect the growing demand for advanced, diverse, and scalable energy storage technologies to support the global energy transition and ensure a stable, reliable energy supply.
As China continues to lead the way in energy storage development, these advancements are playing a critical role in the country’s broader strategy to integrate renewable energy, ensure grid stability, and achieve its carbon reduction goals.
