In 2022, 194 electrochemical storage stations were put into operation, with a total stored energy of 7.9GWh. These accounted for 60.2% of the total energy stored by stations in operation, a year-on-year increase of 176% (Figure 4).
The storage systems are characterized by their nominal power, expressed as a percentage of renewable capacity, and their supply duration in hours, which represents the reservoir capacity for pumped hydro or compressed air energy storage (CAES) systems.
The energy storage industry is going through a critical period of transition from the early commercial stage to development on a large scale. Whether it can thrive in the next stage depends on its economics.
In terms of developments in China, 19 members of the National Power Safety Production Committee operated a total of 472 electrochemical storage stations as of the end of 2022, with a total stored energy of 14.1GWh, a year-on-year increase of 127%.
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