BEIJING, Jan. 24 (Xinhua) -- China''s new energy storage sector has seen a rapid growth in 2024, with installed capacity surpassing 70 million kilowatts, said an official with the National Energy Administration (NEA).
Geographically, the top five provincial-level regions in China for cumulative installed capacity of new energy storage are Inner Mongolia, Xinjiang, Shandong, Jiangsu, and Ningxia.
Capacity for global battery energy storage systems rose 42 gigawatts in 2023, nearly doubling the total increase in capacity observed in the previous year, according to the International Energy Agency. — CNBC''s Arjun Kharpal contributed reporting.
Regarding storage duration, the share of new energy storage projects with a duration of four hours or more increased to 15.4 percent in 2024, up by about 3 percentage points since the end of 2023.
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Photo: Courtesay of Tesla US electric car maker Tesla signed an agreement on Friday for its first grid-side energy storage project in the Chinese mainland, according to a statement the company ...
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