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    MarketForces Africa » MarketForces News » China’s Energy Storage Capacity Expands in Q1 to Support Low-Carbon Goal

    China’s Energy Storage Capacity Expands in Q1 to Support Low-Carbon Goal

    Marketforces AfricaBy Marketforces AfricaApril 29, 2024 News No Comments2 Mins Read
    China’s Energy Storage Capacity Expands in Q1 to Support Low-Carbon Goal
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    China’s Energy Storage Capacity Expands in Q1 to Support Low-Carbon Goal

    China’s energy storage capacity has further expanded in the first quarter amid the country’s efforts to advance its green energy transition.

    By the end of March, China’s installed new-type energy storage capacity had reached 35.3 gigawatts.

    It soared 2.1 times over the figure achieved during the same period in 2023, the National Energy Administration (NEA) said on Monday.

    Bian Guangqi, an NEA official, at a press briefing, in a breakdown said that the North-Weestern parts of the country have seen the fastest development of the new-type energy storage facilities.

    Guangqi said that 10.3 gigawatts of such capacity had been installed and put into operation accounting for 29.2 per cent of the country’s total.

    At the beginning of 2024, the NEA  released a list of 56 new-type energy storage pilot demonstration projects, including 17 lithium-ion battery projects and 11 compressed air energy storage projects, among others.

    ”Some of these projects have been connected to the grid, effectively promoting the application of new technologies.

    ”The NEA will continue to encourage technological innovation to support the development of the new-type energy system,’’ Bian said.

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    Money Market Rates Mixed as Banking System Liquidity Dips

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