China plans massive investment in battery storage

According to Caixin, China plans to increase its battery storage capacity to 65 gigawatts by 2025, nearly doubling its current capacity, according to a plan released by the National Development and Reform Commission. According to the plan, the market for large-scale battery storage will grow exponentially in the coming years as more and more storage capacity for surplus solar and wind energy becomes necessary and the cost of lithium-ion batteries plummets. “Energy storage is the perfect complement in a massive expansion of solar and wind energy,” Caixin quotes an industry expert as saying.