China’s central economic planner, the National Development and Reform Commission, released a five-year plan in March, aiming to develop energy-storage capacity to boost renewable power consumption. In the first half of 2023, new energy storage could drive direct investment of 30 billion yuan (US$4.2 billion), according to data released by China’s National Energy Administration.
“Energy storage is a top concern for China,” said Greenpeace’s Gao. “It’s not just about building up a new power supply. It’s about designing a system that will meet electricity demand.”