National Energy Administration Reports New Energy Storage Installed Capacity Exceeding 30 Million Kilowatts

National Energy Administration: Rapid Development of New Energy Storage, with Installed Capacity Exceeding 30 Million Kilowatts in Operation

Mr. Bian Guangqi, Deputy Director of Energy Conservation and Technology Equipment Department of the National Energy Administration, stated at a press conference that the development of new energy storage is progressing rapidly, with more than 30 million kilowatts of installed capacity in operation. By the end of 2023, the cumulative installed capacity of new energy storage projects put into operation nationwide has reached 31.39 million kilowatts/66.87 million kilowatt-hours, with an average energy storage duration of 2.1 hours. The newly added installed capacity in 2023 is approximately 22.6 million kilowatts/48.7 million kilowatt-hours, an increase of over 260% compared to the end of 2022, nearly ten times the installed capacity at the end of the "13th Five-Year Plan" period.

In terms of investment scale, since the "14th Five-Year Plan", the addition of new energy storage installed capacity has directly driven economic investment of over 100 billion yuan, and further expanded the upstream and downstream of the industry chain, becoming a "new engine" for the development of China's economy.