The State Energy Administration releases "China's New Energy Storage Development Report".

On July 31st, the National Energy Administration released the "China New Energy Storage Development Report". By 2024, China will continue to improve the policy system supporting the development of new energy storage, strengthen the role of planning guidance, increase technology research and development efforts, improve the electricity market mechanism, and fully tap the diverse value of new energy storage. At the same time, efforts will be made to promote pilot applications, improve the standard system, and enhance management mechanisms to guide the healthy and orderly development of new energy storage. By the end of 2024, a total of 73.76 million kilowatts/168 million kilowatt-hours of new energy storage will have been built and put into operation nationwide, accounting for over 40% of the global total installed capacity. Various new energy storage technologies will be thriving, covering the major technological routes of global engineering applications, and the level of dispatch and utilization will steadily improve, providing strong support for the construction of new power systems.