China's Urgent Need for Energy Storage

Whether the public discourse is advocating or criticizing, the emergence of new energy storage is an unstoppable trend in China. Centuries ago, most of humanity's power came from water, wind, and manpower. With the advent of modern industrial civilization, people learned to generate power from coal, oil, and natural gas. However, the extensive use of fossil fuels not only depleted resources but also led to increasing environmental pollution. In response, attention turned back to nature, leading to the development of renewable energy sources such as wind and solar power.

According to the International Renewable Energy Agency (IRENA), by the end of 2022, global renewable energy generation capacity reached 3.272 billion kilowatts, with significant growth in solar and wind power. By the same time, China's total renewable energy capacity exceeded 1.213 billion kilowatts, surpassing traditional thermal power for the first time, with wind and solar capacity reaching 760 million kilowatts.

To achieve its "dual carbon" goals, China aims to have over 1.2 billion kilowatts of wind and solar power capacity by 2030. Therefore, the demand for energy storage in China is crucial to support the growth of renewable energy and achieve carbon neutrality goals.

1.Starting Point: New Energy Storage Takes Center Stage

Energy storage has a long history in China, dating back to ancient times with methods like ice storage during the Zhou Dynasty. However, modern energy storage in China started later, with significant development occurring after the initiation of the "Dual Carbon" strategy in the 14th Five-Year Plan period. Pumped hydro storage has been the most mature form of energy storage in China, but it faces limitations such as geographic dependency and long construction periods.

To overcome these limitations, new energy storage technologies such as lithium-ion batteries, flow batteries, compressed air energy storage, and mechanical storage have gained momentum. By the end of 2022, China had deployed over 8.7 million kilowatts of new energy storage capacity, showing rapid growth driven by increasing demand and technological advancements.

2. Transformation: Growing Amid Controversies
Despite its potential, new energy storage in China faces skepticism, particularly from experts like Academician Liu Jizhen, who questions its scalability and impact. However, such controversies are typical in the development of emerging industries. Over the years, China's power industry has evolved from catching up to leading roles, and new energy storage is undergoing a similar transformation.

With advancements in key technologies, such as lithium-ion battery performance and cost reduction, as well as the establishment of industry standards and supply chains, new energy storage is gradually gaining acceptance and proving its value.

3. Value Transition: Key Changes Driven by Technological Innovation
As China enters a new phase of development, the role of energy storage extends beyond supporting the power system to contributing to a greener planet. Through technological innovation and practical applications, energy storage is evolving into an integral component of the power system, enabling seamless integration of renewable energy and enhancing grid stability and efficiency.

By deploying energy storage at various levels of the power system, including power generation, grid operation, and end-user applications, China is realizing the full potential of energy storage to reduce costs, improve reliability, and facilitate the transition to a low-carbon economy.

In conclusion, new energy storage holds immense potential for China's energy transition and the development of a cleaner and more efficient power system. Despite challenges and controversies, technological advancements and growing demand will drive the continued growth of energy storage in China, contributing to a sustainable future.