China’s National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) jointly issued the 14th FYP for New Energy Storage. The plan aims for new energy storage (any energy storage technology excluding pumped hydro storage and dominated by electrochemical energy storage) to enter a large-scale development stage by 2025. It expects the performance of electrochemical energy storage technology to be further improved and system costs to be reduced by more than 30%. For the record, a previous document released by the NDRC in 2021 (“Opinions on accelerating the development of new energy storage”) included a 30 GW installed capacity target for new energy storage by 2025.
(BJX)
