New energy storage faces cost, technology, marketization, and coordination challenges
Wu Yin, Former Deputy Director of the National Energy Administration
Currently, China’s new energy storage sector faces several challenges. The first is high cost, with many companies struggling to break even. The second is technological; the safety and reliability of energy storage systems need to be improved. The third is the underdeveloped market mechanisms, which do not fully capture the potential value of energy storage. Finally, there’s a coordination problem, particularly in integrating energy storage with new energy sources such as photovoltaics.
In response, there are several recommendations. First, take a holistic approach to planning. Second, increase investment in research and application of new technologies. Third, improve the reliability of equipment and the stability of energy storage systems. Finally, give full play to the decisive role of the market in establishing a clear value for energy storage in new energy development.
