A worker operates on a production line at a lithium battery factory in Tangshan, north China's Hebei Province, Nov. 29, 2020. (Xinhua/Yang Shiyao)
BEIJING, June 9 (Xinhua) -- China expects its new energy storage market to double in scale with policy supports, reported Economic Information Daily on Wednesday.
The National Development and Reform Commission (NDRC), China's top economic planner, and the National Energy Administration have jointly issued a guideline on Tuesday to promote the utilization of new energy storage.
According to the guideline, regions in China will encourage new energy stations and energy storage to jointly participate in the market according to the local situation of power supply and demand.
Meanwhile, China will also accelerate the participation of independent energy storage in the medium and long-term market and spot market.
According to a research report of Everbright Securities, the output of energy storage batteries will exceed 60GWh in 2022, a year-on-year increase of nearly 100 percent.
Guorong Securities predicts the demand for independent energy storage on the grid side to reach 13.8GWh by 2025, with a compound annual growth rate of 85 percent.
(Edited by Dai Jingjing with Xinhua Silk Road, aime_jenny@163.com)
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