By: Salma Al-Saqqa
China's energy storage sectors are experiencing massive growth, driven by more than doubling the production of storage batteries during the first half of the year, contributing to advancing the global green transition and enhancing the reliability of renewable energy on power grids around the world.
Global Energy Storage Conference
These developments came during the events of a global energy storage conference held in the city of Ningde, Fujian Province, a prominent global hub for the advanced energy storage industry. Officials and experts during the event reviewed the pivotal role that modern technologies play in supporting the low-carbon transition and enhancing the efficiency of electrical systems.
A quantum leap in production and installed capacity
In this context, Xiong Jijun, Vice Minister of Industry and Information Technology, pointed out that his country's production of storage batteries increased significantly on a year-on-year basis to reach more than 420 gigawatt-hours in the first half of the current year. By the end of June, the installed capacity of new energy storage types exceeded 153 million kilowatts.
Officials confirmed that China has built an integrated industrial chain with the localization of more than 90 percent of key equipment, with a diverse technological landscape emerging led by lithium batteries alongside sodium-ion and flow battery technologies, with plans to further develop this sector in the coming period and welcoming international partners to standardize criteria.
China's role in the global market
For her part, Elena Stefanova, Manager of the Coalition for Action at the International Renewable Energy Agency (IRENA), explained that China plays a central role in the global energy storage market, as it has accounted for a large proportion of the world's new battery storage capacity additions. She added that the notable progress in deploying storage systems contributes to changing the economics of renewable electricity and providing competitive energy around the clock at gradually decreasing costs.
In turn, Zou Ciyong, Deputy Director-General of the United Nations Industrial Development Organization (UNIDO), emphasized the importance of ensuring that the growth of storage batteries translates into better energy services, stronger industrial capacities, and lasting improvements in people's lives, noting that Chinese expertise in the fields of electric vehicles and energy storage offers a valuable basis for international exchange.
Accelerated growth for battery companies
In the same vein, Zeng Yuqun, founder and chairman of the leading battery manufacturer CATL, confirmed that the global energy storage market is witnessing explosive growth. With renewable energy becoming a major source of electricity globally, storage is evolving from a supporting facility into essential infrastructure for energy systems, in light of the rapid expansion of global shipments and major projects implemented in various international markets.
