Giant energy storage cabinets, also known as "electricity banks," are popping up all over China, anticipating a surge in the storage of renewable energy sources. This reflects the soaring demand for electricity storage as China accelerates its transition to clean energy.
At Narada Power Group's Lin'an assembly line in Hangzhou, Zhejiang province, rows of large, silver-white cabinets are neatly arranged and ready. These are giant "energy banks," designed to store electricity generated from wind and solar power, for use during peak demand periods.
Mr. Tan Jiangguo, General Manager of the Lin'an Production Center, Narada Power, said: "Our shipments of large-scale storage systems have more than tripled compared to last year. We cooperate with grid operators, power companies, and renewable energy corporations to provide services such as peak load regulation and frequency regulation."
According to data from China's National Energy Administration, as of the end of September this year, the total installed capacity of next-generation energy storage systems in China has exceeded 100 million kW. This figure accounts for more than 40% of the global market share, making China the leading country in terms of deployment scale. Behind this growth is the boom in wind and solar power, especially in the northern and northwestern provinces.
Dong Yunfan, an analyst at Sublime China Information, shared: "The Chinese government has abolished mandatory electricity storage requirements, but in reality, companies have increased investment in storage facilities. Furthermore, with the development of new energy sectors in recent years, the existing storage capacity of the grid is no longer keeping up with the growing electricity demand."
Electricity consumption in China is currently increasing rapidly, especially in high-tech manufacturing, electric vehicles, and battery materials. To achieve peak carbon emissions by 2030 and carbon neutrality by 2060, China must expand its renewable energy integration space, with energy storage being a crucial element, leading to a boom in energy storage devices to capitalize on this trend.
Source: https://vtv.vn/ngan-hang-dien-tai-trung-quoc-100251119053857015.htm
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