China Issues Implementation Plan For Green And Low-Carbon Advanced Technology Demonstration Projects

On August 22nd, the National Development and Reform Commission and other ten departments issued a notice officially releasing the "Implementation Plan for Green and Low-Carbon Advanced Technology Demonstration Projects" (referred to as the "Implementation Plan"). The Implementation Plan sets out the work objectives for green and low-carbon advanced technology demonstration projects in two stages, namely 2025 and 2030. Energy storage is listed as one of the key areas in the document, promoting "new energy + energy storage," new types of energy storage, pumped-hydro storage, integrated generation-transmission-load storage systems, and demonstrations of complementary and integrated multiple energy sources. It also emphasizes long-term, high-precision renewable energy power forecasting, virtual power plants, interactions between new energy vehicles and the power grid, and demonstrations of flexible DC power transmission, among others. SMM believes that China's new energy storage industry has entered a rapid development stage. The Implementation Plan also highlights the practical application of new energy storage in multiple scenarios, reflecting the market-oriented approach to innovation in the new energy storage industry. With the continuous promotion of the "carbon peak" and "carbon neutrality" targets, energy storage, as an important component, will continue to experience a prosperous industry outlook.