An industry hailed as the "future of clean energy" sees over 30,000 businesses collapse within months. Welcome to the energy storage sector in early 2025 – where market
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				    Our commitment to delivering world-class integrated energy storage solutions to our customers is built upon employing cutting-edge renewable energy conversion and best-in-class battery
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				    China''s energy-storage sector is still reeling from a relentless price war after years of overproduction. Overall capacity in the new-type
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China’s energy-storage industry is facing a challenging outlook this year due to the escalating US-China trade war and weaker government support, prompting one industry group to caution against price competition.
Photo: Handout China’s energy-storage sector is still reeling from a relentless price war after years of overproduction. Overall capacity in the new-type energy-storage sector rose by almost 10 times between 2020 and 2023, the National Energy Administration said last week.
Mainland China accounts for most of the global energy storage demand, driven in the near term by regional requirements for new utility-scale wind and solar projects to include energy storage capacity. However, the Chinese market is entering an era of change.
Global electricity output is set to grow by 50 percent by mid-century, relative to 2022 levels. With renewable sources expected to account for the largest share of electricity generation worldwide in the coming decades, energy storage will play a significant role in maintaining the balance between supply and demand.
Globally, energy storage project development is increasingly driven by the utility-scale segment, with mandates and targeted auctions driving gigawatt-hour projects in markets like China, Saudi Arabia, South Africa, Australia and Chile.
To support the global transition to clean electricity, funding for development of energy storage projects is required. Pumped hydro, batteries, hydrogen, and thermal storage are a few of the technologies currently in the spotlight.