In 2012, China’s electric grid will become the largest in the world in terms of both installed generation capacity and electricity produced. China also possesses the world’s largest installed wind power base and the world’s largest declared investment in renewable energy. These facts alone suggest that China is also the most attractive market for energy storage in the world, even though China currently has just 4 percent of the worldwide energy storage capacity.
Whereas other markets have focused on power quality and ancillary services, China’s grid energy storage market has developed with a focus on renewable energy integration, load-shifting and peak shaving.
In a new report, Azure International and GTM Research forecast that pumped-hydro storage capacity will reach 40 to 60 gigawatts by 2016, while other storage technologies will rise from currently insignificant levels to over 700 megawatts installed by 2016. Download the report’s brochure to see the complete scope at www.greentechmedia.com/research/report/china-grid-scale-energy-storage-2012-2016.
FIGURE: Overall Energy Storage Installed Capacity (Excluding Pumped Hydro), 2011-2016E
With strong government support and steadily improving technology, we anticipate the energy storage market will grow to a $500 million per year market by 2016. In this 142-page report, we analyze the market's outlook with a realistic assessment of the policy, market and technical barriers that energy storage faces.
FIGURE: Active Energy Storage Companies in China by Technology and Development Stage
For more information on this report and the state of the China energy storage market, visit www.greentechmedia.com/research/report/china-grid-scale-energy-storage-2012-2016.