By the end of December 2025, China’s cumulative installed capacity of new energy storage technologies including lithium-ion reached 144.7GW, representing an 85% year-on-year rise.

The market share of vertically integrated battery cell and BESS companies has fallen since 2023, market intelligence firm Rho Motion said.

Despite the fall in unit prices for energy storage, a total of US$3.6 billion of investment was committed to energy storage projects in 2020, around the same amount as in 2019.