Pumped hydro accounted for less than 70% for the first time, and the cumulative installed capacity of new energy storage（i.e. non-pumped hydro ES） exceeded 20GW.
According to incomplete statistics from CNESA DataLink Global Energy Storage Database, by the end of June 2023, the cumulative installed capacity of electrical energy storage projects commissioned in China was 70.2GW, with a year-on-year increase of 44%. The cumulative installed capacity of pumped hydro dropped to 69.1% by the end of June this year, which was below 70% for the first time after it was below 80% for the first time at the end of last year. The cumulative installed capacity of new energy storage projects is 21.1GW/44.6GWh, and the power and energy scale have increased by more than 225% year-on-year.
Figure 1: Cumulative installed capacity (MW%) of electric energy storage projects commissioned in China (as of the end of June 2023)
Figure 2: Cumulative installed capacity of new energy storage projects commissioned in China (as of the end of June 2023)
In the first half of 2023, China's new energy storage continued to develop at a high speed, with 850 projects (including planning, under construction and commissioned projects), more than twice that of the same period last year. The newly commissioned scale is 8.0GW/16.7GWh, higher than the new scale level last year (7.3GW/15.9GWh). The newly-added projects were mainly put into operation in June, and the capacity reached 3.95GW/8.31GWh, accounting for 50% of the total increased capacity of operarting projects in the first half of the year. It is expected that it will continue to maintain a rapid growth in the second half of the year, and the installed capacity will increase by 15-20GW in 2023.
Figure 3: Installed capacity of new energy storage projects newly commissioned in China (2023.H1)
In the first half of the year, the capacity of domestic energy storage system which completed procurement process was nearly 34GWh, and the average bid price decreased by 14% compared with last year.
In the first half of 2023, a total of 466 procurement information released by 276 enterprises were followed. The bidding volume of energy storage systems (including energy storage batteries and battery systems) was 33.8GWh, and the average bid price of two-hour energy storage systems (excluding users) was ¥1.33/Wh, which was 14% lower than the average price level of last year and 25% lower than that of January this year.
Figure 4: Capacity of main types of energy storage bidding in the first half of 2023
Figure 5: Trend of average bid price in energy storage system and EPC (2023.H1, unit: CNY/kWh)
About Global Energy Storage Market Tracking Report
Global Energy Storage Market Tracking Report is a quarterly publication of market data and dynamic information written by the research department of China Energy Storage Alliance (CNESA).
About CNESA Data Link Global Energy Storage Database
Independently built by CNESA, CNESA DataLink Global Energy Storage Database is an intelligent data service platform for energy storage industry, providing important data support for government agencies, power generation groups, power grid companies, energy storage enterprises, industry organizations, investment and financing institutions, etc. to understand the market status, judge future trends, assist decision-making, and make plans.
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