China: China sees leapfrog growth in installed capacity of new energy storage.

Storyline China sees leapfrog growth in installed capacity of new energy storage New official data shows that China's installed capacity of new-type energy storage stands at 153 million kilowatts as of the end of June this year, that's up from three million at the start of 2021. Compared to last year, China's built and operational new-type energy storage capacity increased by 61 percent so far. Data shows that the utilization rate of new-type energy storage has also improved over the past few years, going from 611 hours in 2023 to nearly 1200 last year. Officials from China's Electricity Council are calling the growth an historic leap. Liu Yongdong, deputy secretary-general, China Electricity Council： "During the 14th Five-Year Plan period, China's installed new-type energy storage capacity grew by more than 40 times, achieving a historic leap from the initial stage of commercialization to large-scale development. During the 15th Five-Year Plan period (2026-2030), the new-type energy storage is expected to maintain a high growth, with an estimated additional installed capacity of about 160 million kilowatts." China plans to reach 300 million kilowatts of new-type energy storage capacity by 2030, with 140 million set aside for grid-side independent storage during peak-shaving, and for supply assurances. [Restrictions: No access Chinese mainland]