Growth rate of newly added new type energy storage capacity in China 2020-2023
In 2023, the capacity of newly installed new type energy storage capacity increased by 181 percent compared to the previous year, which amounted to over 21 gigawatts of new type energy storage capacity had been added in China. New type energy storage solutions include lithium-ion batteries and flywheels. In contrast, a conventional energy storage solution is pumped hydro.