A series of reforms in China's electricity sector, along with the expansion of data centers and renewable energy sources, is driving the growth of battery storage. This is according to... Reuters.
Chinese manufacturers, global leaders in lithium-ion cells, are expected to see a 75% increase in shipments this year, with exports exceeding US$65 billion.
Growth is driven by domestic and international demand, including data centers, solar and wind power, as well as renovations and subsidies.
Manufacturers are operating at full capacity, and global investments in storage could reach US$66 billion by 2025.
Major global suppliers, such as CATL, BYD, and EVE Energy, are reporting record sales, even with storage levels still lower than the automotive sector.
In the US, the demand for data centers is driving the integration of solar power with batteries, although regulatory restrictions pose risks.
In the domestic market, the June reforms made operating storage plants more profitable, increasing the average daily operating volume.
The advance is supported by a government plan $35 billion by 2027, considered the most significant change for the sector in over a decade.
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