This aerial photo taken on Nov. 16, 2023 shows the Dingdongpo wind power-photovoltaic project in Shiqian County of Tongren City, southwest China's Guizhou Province. (Xinhua/Yang Wenbin)
BEIJING, Feb. 1 (Xinhua) -- New-type energy storage is growing into a key technology in China's efforts of constructing new energy and power system, as well as an important means of promoting green and low-carbon transformation of energy production and consumption, according to China's National Energy Administration (NEA) at a recent press conference.
Commenting on the progress of building the unified electricity market system, relevant officials with the NEA also elaborated on the planning of electricity market and energy storage development in the year 2024 at the conference.
-- Newly installed new-type energy storage drives massive investment
Since the beginning of the 14th Five-Year Plan period (2021-2025), newly installed new-type energy storage capacity in China has directly promoted economic investment of over 100 billion yuan (about 13.93 billion U.S. dollars), driving further expansion of upstream and downstream industrial chains.
By the end of 2023, installed new-type energy storage capacity in China had accumulated to 31.39 gigawatts, with a 2.1-hour average energy storage time. The year 2023 alone witnessed 22.6 gigawatts of new-type energy storage capacity installed, up 260 percent year on year and nearly 10 times the figure by the end of 2020.
For next steps, the NEA will actively encourage technological innovation and combine the characteristics of new-type energy storage, so as to promote diversified and high-quality development of new-type energy storage through targeted work, said Bian Guangqi, an NEA official, at the press conference.
Specifically, the administration will strengthen tracking and evaluation of pilot demonstration projects of new-type energy storage, in a bid to ensure such projects to achieve expected results. At the meantime, by carrying out research on relevant measures to promote the dispatch and application of new-type energy storage, the NEA is to advance its function of systematic support and regulation, guiding proper use of the technology.
Besides, the administration will organize special research on new-type energy storage needs during the15th Five-Year Plan period (2026-2030), so as to prepare in advance through top-level design.
The NEA has also vowed to promote rational allocation of new-type energy storage in new energy bases, as well as to keep up with the forefront of international development of the industry, supporting related Chinese enterprises to better go global.
-- Electricity traded through national electricity market increases
In the year 2023, the NEA actively promoted the development of national unified electricity market system, with market transactions through the year continuing to increase, multi-tiered power market system effectively operating and relevant rules and regulations further improving, according to NEA official Liu Gang.
Data shows that the national electricity market saw power transaction totaling 5.7 trillion kilowatt-hours in 2023, up 7.9 percent from that of the previous year. Electricity traded through the national market accounts for 61.4 percent of the country's total power usage, an increase of 0.6 percentage points from the previous year.
Among the eight pilot regions of electricity spot market, north China's Shanxi Province and south China's Guangdong Province have started official operation of the markets, functioning as a barometer of electricity prices.
In 2024, the NEA will promote the construction of the electricity market as a whole, establishing a basic system of rules that centers upon regulations for various kinds of power services.
-- China plays vital role in global clean energy development
With China contributing over 50 percent of the global renewable energy installed capacity of 510 gigawatt in the year 2023, the country is playing a vital role in global clean energy development, said Pan Huimin, an NEA official.
In terms of investment, Chinese enterprises' overseas clean energy investment covers major countries and regions in fields including wind power, photovoltaic power generation and hydropower, supporting green and low-carbon energy development in relevant countries.
In terms of industry, China continuously promotes technology and product innovation and actively engages itself into global clean energy industry chain. At present, China's wind power and photovoltaic products have been exported to more than 200 countries and regions around the world, with a cumulative export value of more than 33.4 billion U.S. dollars and 245.3 billion U.S. dollars, respectively.
In the future, while vigorously promoting the development of domestic clean energy, the NEA will continue to strengthen international cooperation in technological innovation, increase support for developing countries, and maintain the openness and stability of global industrial and supply chain, making greater contributions to global clean energy development, said Pan. (Edited by Yu Huichen with Xinhua Silk Road, firstname.lastname@example.org)