Development of energy storage industry in China: A technical and economic point of review

With the global attention and continuous investment in the field of clean energy and carbon emission reduction, the renewable energy occupies an increasingly large proportion in the power system. China, as the world׳s fastest developing country, the development of renewable energy becomes an inevitable path in the context of low-carbon economy. However, due to the intermittent and stochastic property of renewable energy, the renewable energy system cannot be widely used without the configuration of energy storage system. The aforementioned requirement precipitates the industrial application of energy storage technology becomes increasingly urgent. However, according to the present status of energy storage industry in China, there are enormous difficulties to be overcome promptly. In this work, the development status of China׳s energy storage industry is analyzed from the perspectives of technology, application and policy, by referring to a large number of statistical literatures. Subsequently, the existing problems are categorized in terms of technology, cost, promotion, policy mechanisms. In the end, suggestions to solve the above problems are put forward, aiming at facilitating the rapid development of energy storage industry in China.