China's cumulative installed capacity of new types of energy storage projects that have entered operation increased to 31.39 GW as of the end of 2023, state media reported.
This is equivalent to 1.4 times the installed capacity of the Three Gorges Dam and could meet the electricity needs of 20 million households.
China's newly added installed capacity of new-type energy storage throughout 2023 was nearly 10 times that at the end of the 13th Five-Year Plan (2026-2020).
In 2024, Jiangsu is set to connect 4 GW of new-type energy storage to the national grid to ensure power supply and grid regulation. Currently, 11 provinces and regions in China have installed capacities exceeding 1 GW.
Since the beginning of the 14th Five-Year Plan, the addition of new forms of energy storage projects in China has directly driven economic investment of over 100 billion yuan ($13.8 billion), further expanding industry chains.
The National Energy Administration has put forward several measures, including promoting diversified development of new-type energy storage and strengthening policy measures to facilitate the integration and operation.
(Writing by Riley Liang Editing by Harry Huo)
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