China surpasses 100 million kW in new energy storage

China's new energy storage capacity has exceeded 100 million kilowatts, marking a major milestone in the nation's transition toward a new-type energy system and consolidating its global lead in renewable energy development, officials said at an energy storage sub-forum on Wednesday.

"By the end of September, China's new energy storage installations had surpassed 100 million kilowatts, becoming a vital part of the new-type power system," said Song Hongkun, deputy director of the National Energy Administration (NEA), at a sub-forum on high-quality development of new energy storage during the 8th Hongqiao International Economic Forum in Shanghai on Wednesday.

Song noted that China has built the world's largest and fastest-growing renewable energy system and the most complete new energy industrial chain.

He added that new energy storage, which is known for its flexible deployment, rapid response, and short construction period, has become a key technology underpinning the development of new energy and power systems.

According to Bian Guangqi, deputy director general of the NEA's department of energy conservation and technology equipment, China's new energy storage capacity has grown more than 30-fold since the end of the 13th Five-Year Plan period (2016-20) now accounting for over 40 percent of global total capacity.

Bian noted that the sector has advanced from its early commercialization stage into large-scale development, with steady progress in technology, industrial upgrading, business models, and application scenarios.

Emerging technologies such as solid-state batteries and hydrogen storage are also advancing rapidly, offering robust support for multi-timescale and high-safety energy storage needs in future power systems, Bian added.

"Since the start of the 14th Five-Year Plan period (2021-25), investment in new energy storage projects in China has exceeded 200 billion yuan ($28 billion), driving over 1 trillion yuan of investment along the industrial chain," Song said, adding that China's products are helping accelerate global energy transition, contributing Chinese strength to the world's green transformation.

Looking ahead, the NEA will intensify support for technological innovation in new energy storage, nurture new quality productive forces in the energy sector, and work toward achieving the nation's carbon peak goals on schedule.

Laureano Ortega Murillo, presidential advisor for the promotion of investment, trade and international cooperation of the Republic of Nicaragua, expressed strong interest in partnering with China in renewable energy.

He noted that while 70 percent of Nicaragua's energy already comes from renewables such as solar, wind, and geothermal, its growing industrial demand calls for expanded energy supply.

"We've already collaborated with Chinese energy enterprises on solar and hydropower projects. We hope to explore more opportunities for cooperation with China based on these existing partnerships," he said.