CEEC Drives Innovation in China’s Energy Storage Sector
Friday, 6 September 2024, 23:00
CEEC's Pioneering Energy Storage Project in Shandong
The ambitious CEEC project in Shandong will leverage massive underground caverns for energy storage, marking a significant milestone in China's quest for decarbonization. With an investment exceeding ¥20 billion, this facility aims to provide compressed air energy storage that can power over 600,000 households annually.
Rising Challenges Amid Opportunities
- Overcapacity and low usage rates plague the market as demand struggles to keep pace.
- Government policies have accelerated deployment but created mismatched supply.
- Innovative technologies emerge, including lithium-ion, sodium-ion, and flow batteries.
As China aims for 80% clean energy by 2060, the essential role of energy storage becomes clear amidst its rapid renewable deployment, which currently exceeds 1,200 GW capacity.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.