China boosts renewable energy grid support with 44 GW new-energy storage capacity by June.

China has significantly increased its battery-storage capacity to support electricity grids amid rapid increases in renewable energy, with new-energy storage capacity reaching 44 gigawatts by June. This has driven a global boom in energy storage, overtaking electric vehicles as the fastest-growing market for batteries. However, China needs to improve utilization of its battery-storage systems through further power market reforms such as electricity price changes and power trading arbitrage.

August 12, 2024
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