Global new electrochemical energy storage projects either planned or under construction totaled 2.4GW of capacity, of which China’s planned/under construction projects totaled 609.5MW of capacity.
Global operational electrochemical energy storage capacity totaled 9660.8MW, of which China’s operational electrochemical energy storage capacity comprised 1784.1MW. In the first quarter of 2020, global new operational electrochemical energy storage project capacity totaled 140.3MW, a growth of -31.1% compared to the first quarter of 2019.
This research is part of our Energy Storage Research Service which provides insight into key markets, competitors and issues shaping the sector. The European Association for Storage of Energy (EASE), established in 2011, is the leading member-supported association representing organisations active across the entire energy storage value chain.
In the short term, energy storage has been affected by delays or cancellations in production, project commissioning and delivery, business discussions, and international market development. For some small- and medium-sized companies, the effects of the epidemic have brought great operating pressure.
The technology at the most advanced stage of development is Pumped Thermal Energy Storage. There are no commercial operating projects in Europe with these technologies as of end of 2023. Projects like that will require additional support, as the current revenue stack is not enough to justify the initial investment.
Of this global total, China’s operational energy storage project capacity comprised 33.1GW, a growth of 5.1% compared to Q3 of 2019. Both in the international market and the Chinese market, pumped hydro storage continued to account for the largest proportion of energy storage capacity totals.
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