China’s share of the lithium-ion battery cell production capacity market is set to fall from 75% in 2020 to 66% in 2030, according to Clean Energy Associates in a new report.
China is targeting a non-hydro energy storage installed capacity of 30GW by 2025 and grew its battery production output for energy storage by 146% last year, state media has said.
Standalone storage, demand from commercial and industrial (C&I) customers and new types of grid services will increasingly help drive growth in energy storage in the coming years, but the future mix between battery-based and alternative storage types is still unclear.
Industry-watchers will closely follow how the recently completed acquisition of energy storage system integrator NEC ES by LG Energy Solution pans out.
LG Energy Solution, the battery technology arm of South Korea’s LG Group, has completed its acquisition of 100% ownership in battery energy storage system (BESS) integrator NEC ES.
Demand for batteries in India will rise to between 106GWh and 260GWh by 2030 across sectors including transport, consumer electronics and stationary energy storage, with the country racing to build up a localised value chain.
Independent power producers (IPPs) Greenko and Ayana Renewable Power will leverage large-scale energy storage to give industrial customers in India ‘round-the-clock’ renewable power supply.
Asia-Pacific will overtake North America as the biggest utility-scale energy storage (UES) market by annual installed gigawatts (GW) by 2024-2025, according to a new report by Guidehouse Insights, one to two years later than in the firm’s previous forecasts.
Responding to increasing demand for dispatchable renewable energy resources, GE Renewable Energy has opened a factory for ‘Renewable Hybrid’ technology solutions and equipment in Chennai, India.
