China's energy storage industry: Develop status, existing problems and countermeasures

With the global environmental pollution and fossil energy shortage problems getting increasingly serious, renewable energy sources (RES) are drawing more and more attention. In China, RES are experiencing rapid development. However, because of the randomness of RES and the volatility of power output, energy storage technology is needed to chip peak off and fill valley up, promoting RES utilization and economic performance. So to speak, energy storage is the precondition of large-scale integration and consumption of RES. However, China's energy storage industry is at the exploration stage and far from commercialization. This restricts the development of RES to certain extent. For this reason, this paper will concentrate on China's energy storage industry. First, it summarizes the developing status of energy storage industry in China. Then, this paper analyzes the existing problems of China's energy storage industry from the aspects of technical costs, standard system, benefit evaluation and related policies. Finally, solutions are proposed based on the above problems to promote the sound development of China's energy storage industry.