China plans to double its battery storage capacity by next year, an ambitious goal that could have massive downstream impacts on the world’s renewable energy transition.
Beijing said it would invest $35 billion to build a “new energy storage system,” which would significantly expand China’s already world-leading capacity, the South China Morning Post reported.
The breakthroughs in battery efficiency and manufacturing capacity needed to reach the goal could lead to a surge in global exports: Batteries are a key component in the energy transition as most solar electricity is generated when demand is low.
According to the Global Battery Alliance, by 2030 batteries could account for 30% of the global emission reductions required in the transport and energy sectors.
