Li added that China''s dominance in energy storage technology, particularly in battery cell production, places it in a leading position to shape global storage standards.
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Technology costs for battery storage continue to drop quickly, largely owing to the rapid scale-up of battery manufacturing for electric vehicles, stimulating deployment in the power sector.
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This growth, driven by China's swift expansion in battery storage and other energy solutions, cements its role as a leader in the sector, said Li Chenfei, senior manager of CNESA.
China imported almost 12 million short tons of raw and processed battery minerals, accounting for 44% of interregional trade, and exported almost 11 million short tons of battery materials, packs, and components, or 58% of interregional trade in 2023, according to regional UN Comtrade data.
Li added that China's dominance in energy storage technology, particularly in battery cell production, places it in a leading position to shape global storage standards. At the end of the first half, power storage capacity in China surpassed 100 GW, reaching 103.3 GW, a 47 percent year-on-year increase.
At the end of the first half, power storage capacity in China surpassed 100 GW, reaching 103.3 GW, a 47 percent year-on-year increase. New energy storage systems now account for nearly 50 percent of the total, with lithium battery storage maintaining a dominant position in this sector, said Li.
By the end of 2023, China had completed and put into operation a cumulative installed capacity of new type energy storage projects reaching 31.4GW / 66.9GWh, with an average storage duration of 2.1 hours. The newly added installed capacity in 2023 was approximately 22.6GW / 48.7GWh, which is three times that for 2022 (7.3GW / 15.9GWh).
ds, and service networks for battery storage systems.At present China does have some market advantages when it comes to the development of BESS infrastructure, including the supply chain related to global lithium-ion battery production,