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Reuters: China, struggling to make use of a boom in energy storage, calls for even more
https://www.reuters.com/business/energy/china-struggling-make-use-boom-energy-storage-calls-even-more-2024-07-05/China, struggling to make use of a boom in energy storage, calls for even more
By Colleen Howe
July 5, 2024 2:14 AM EDT
BEIJING, July 5 (Reuters) - Rows of what look like thin, white shipping containers are lined up on a barren dirt field in China's Shandong province.
Filled with batteries, they form a 795 megawatt (MW) plant that can hold up to 1 million kilowatt-hours of electricity - enough to power 150,000 households for a day, making it China's largest such storage facility when it was connected to the grid last Saturday.
Built by Lijin County Jinhui New Energy Co, the project is part of an explosion in development of energy storage in China, which has called for even more investment in the sector to boost renewable electricity and ease grid bottlenecks.
While the state-led drive has provided a welcome spark for home-grown battery giants such as CATL (300750.SZ), and BYD, some industry insiders and experts say pricing reforms and technology improvements are needed for a storage sector whose rapid growth has been plagued by low utilisation and losses for operators.
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By Colleen Howe
July 5, 2024 2:14 AM EDT
BEIJING, July 5 (Reuters) - Rows of what look like thin, white shipping containers are lined up on a barren dirt field in China's Shandong province.
Filled with batteries, they form a 795 megawatt (MW) plant that can hold up to 1 million kilowatt-hours of electricity - enough to power 150,000 households for a day, making it China's largest such storage facility when it was connected to the grid last Saturday.
Built by Lijin County Jinhui New Energy Co, the project is part of an explosion in development of energy storage in China, which has called for even more investment in the sector to boost renewable electricity and ease grid bottlenecks.
While the state-led drive has provided a welcome spark for home-grown battery giants such as CATL (300750.SZ), and BYD, some industry insiders and experts say pricing reforms and technology improvements are needed for a storage sector whose rapid growth has been plagued by low utilisation and losses for operators.
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