How many kilowatts are in China's new energy storage projects?

[Photo/China Daily] The installed capacity of new energy storage projects that were put into operation during the first half of this year in China has reached 8.63 million kilowatts, equivalent to the total installed capacity of previous years in the country, according to the National Energy Administration (NEA).

How many energy storage projects are there in China?

As of the end of 2022, the total installed capacity of energy storage projects in China reached 59.4 GW. /CFP As of the end of 2022, the total installed capacity of energy storage projects in China reached 59.4 GW. /CFP

What is Chuneng new energy (Yichang) lithium battery industrial park project?

On August 28, Chuneng New Energy (Yichang) lithium battery industrial park project started construction in Longquan County, Yiling District, Yichang, with a total planned investment of 60 billion yuan (8. 67 billion US dollars) . This is the largest investment and industrial project in Yichang so far.

What is new energy storage?

New energy storage refers to electricity storage processes that use electrochemical, compressed air, flywheel and supercapacitor systems, but not pumped hydro.

Why is energy storage accelerating in China?

With the rapid growth of the installed scale of renewable energy, the power system's demand for various regulatory resources has been growing, leading to accelerating development of new energy storage in the country in recent years, said Liu.

Why is new energy storage important?

New energy storage is an important foundation for building a new power system in China, enjoying the advantages of fast response, flexible configuration and short construction periods. "We believe that its (new energy storage) installed capacity is going to surge and will see rapid development in the sector," Chen said.