Energy Storage Industry to Develop Rapidly in the Coming Decade

The National Development and Reform Commission, the Ministry of Finance, the Ministry of Science and Technology and other related departments jointly issued Guiding Opinions on Advancing Development of Energy Storage Industry to help the industry become a new growth engine in the energy field in the coming decade.
A key to smart power grids and energy systems featuring high proportion of renewable sources of energy, energy storage technologies are vital for industry players to replace current principal energy (fossil energy sources) with renewable sources of energy. Further, the basis of establishing Energy Internet and reforming power management also lies in energy storage techniques. At present, China has made a progress, to a certain extent, in R&D and application of such technologies.
Large-scale development of the energy storage technologies is planned to come true in two phases in the coming 10 years, with the first focusing on R&D and commercialization.