China Mijnbouwenergieopslagproject

Will a boom in energy storage solve China's supply-demand mismatch?

A boom in energy storage, mostly through large battery packs for grid-level storage, should also alleviate the supply-demand mismatch on China’s grid over the long term. Goldman Sachs analysts have forecast a 70-fold increase in battery storage in 2030 from 2021 levels.

Are China's energy investment levels aligned with National Energy and climate goals?

Overall energy investment levels in China are comparable to the amounts required to meet national energy and climate goals, although full alignment with the targets implies a rebalancing away from investments in fossil fuel supply, towards grids and the end-use sectors. World Energy Investment 2024 - Analysis and key findings.

How much money did China invest in power grid projects?

During the first four months of this year alone, China invested Rmb122.9bn ($17bn) in its power grid projects, a 24.9 per cent year-on-year increase. That compares with the $3.5bn announced last October by US President Joe Biden’s administration, which covers 58 projects across 44 states.

How big is China's CCUS project?

Last year, State-owned energy company China Petrochemical Corp launched a 1-million-ton-per-year CCUS project, the country's largest, at one of its oil refineries in Shandong province.

What challenges will China's grid face?

Ken Liu, head of China renewables, utilities and energy research at UBS, said a critical challenge was the improvement of the dispatch system, or software that controls electricity flows to residential, commercial and industrial users. Liu expects as much as 15 per cent of China’s total grid capital spending to be allocated to this software.

Why is China's power grid creaking?

China ’s creaking grid represents a major constraint to progress on its green energy transition. During the first four months of this year alone, China invested Rmb122.9bn ($17bn) in its power grid projects, a 24.9 per cent year-on-year increase.