Energy Storage Industry Poised for Significant Growth amid Government Support during 14th Five-Year Plan

SHANGHAI, Jul 26 (SMM) – The National Development and Reform Commission (NDRC) and the National Energy Administration mentioned in a recently released official document that the innovative energy storage industry shall transform from early commercialization to scaled development by 2025, which will play a significant role in realising carbon peak and carbon neutrality.

Some institutions say that the favorable policies are expected to resolve the key issues including the market positioning of energy storage companies as well as a lack of supporting policies, thus entering a new stage of development. The energy storage industry is poised for high-speed development through enhanced policy support, accelerated construction of innovative power grid, improvement in power transaction system and continuous reduction in costs.

Listed companies in this sector that have already secured first-mover advantages include Pylontech (派能科技), Great Power (鹏辉能源), etc.