CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

The China Battery Energy Storage System (BESS) Market — New Energy For A New Era

Shaun Brodie • 11/04/2024
 China Battery Energy Storage System Report 2024
 
A Battery Energy Storage System (BESS) secures electrical energy from renewable and non-renewable sources and collects and saves it in rechargeable batteries for use at a later date. When energy is needed, it is released from the BESS to power demand to lessen any disparity between energy demand and energy generation.
 
BESS types include those that use lead-acid batteries, lithium-ion batteries, flow batteries, high-temperature batteries and zinc batteries.
 
China is committed to steadily developing a renewable-energy-based power system to reinforce the integration of demand- and supply-side management. An augmented focus on energy storage development will substantially lower the curtailment rate of renewable energy and add tractability to peak shaving, contributing to coal use reduction in China.
 
In terms of BESS infrastructure and its development timeline, China’s BESS market really saw take off only recently, in 2022, when according to the National Energy Administration (China) and China Energy Storage Alliance (CNESA) data, new energy storage capacity reached 13.1GW, more than double the amount reached in 2021. 
 
Ahead and heading into a new era for new energy, it is expected that China’s energy storage capacity and its BESS capacity in particular will grow at a CAGR rate of 44% between 2023 and 2027.
 
Finally, BESS development financing globally thus far has stemmed from various sources: funds, corporate funds, institutional investors, or bank financing. In China, some of these funding means have also been utilized. Looking to the future, two possible funding means which could be brought into play/further brought into play could be green financing and real estate investment trusts (REITs).

RECENT INSIGHTS

developing-kai-tak-as-the-next-commercial-hub-in-hong-kong
MarketBeat

Hong Kong MarketBeat

Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.  
Rosanna Tang • 05/07/2024
taiwans-overall-office-vacancy-rate-in-q3-marks-the-lowest-of-the-past-10-years
MarketBeat

Taipei MarketBeat

Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
Eason Lee • 04/07/2024
Guangzhou (image)
MarketBeat

Guangzhou MarketBeat

Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
Xiaoduan Zhang • 28/06/2024

How can we help?

Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS