China’s cumulative installed new-energy storage capacity represents approximately half of the global total.

A report released by China’s National Energy Administration said the country’s cumulative installed new-energy storage capacity accounts for approximately half of the global total. The source does not provide the underlying capacity in gigawatts or gigawatt-hours.

The report describes new-energy storage as a mechanism for improving the flexibility, economics, and security of electric-power systems. It also identifies storage as a supporting technology for China’s carbon-peaking and carbon-neutrality objectives.

The expansion was attributed to advances in electrochemical storage technology, innovation in business models, and broader market applications. The report said China had developed a comparatively complete new-energy storage industrial chain and market system.