China's new energy storage installed capacity will increase significantly in 2023

According to the latest data released by the National Energy Administration, by the end of 2023, the cumulative installed capacity of China's new energy storage projects will reach 31.39GW/66.87GWh. In 2023, the newly installed capacity of China's new energy storage will be about 22.6GW/48.70GWh, an increase of more than 260% compared with the end of 2022. This growth is due to China's huge domestic demand market and complete industrial chain and supply chain support.