Market Report

China energy storage market outlook 2019

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About the report 

China’s energy storage market saw a remarkable rise in deployments in 2018, growing 285% in megawatt-hours terms vs. 2017. The total storage market size grew to 1 GW/2 GWh of deployments as of the end of 2018. At this pace, China’s market installations will grow fivefold over the next five years, reaching 2.9 GW/year and making it the largest storage market in the Asia-Pacific region in 2024. Cumulative installed power capacity in China will surpass 12.5 GW by 2024, accounting for 20% of the global market share. This report presents various drivers and barriers for China’s storage market, policy deployments, a storage vendor landscape, business models and revenue streams. The report also provides deep insight into market trends through 2024.

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About the author

Dr. Le Xu, Senior Analyst, Energy Storage

Le is a Senior Research Analyst at Wood Mackenzie Power & Renewables, focusing on the Asia-Pacific front- and behind-the-meter energy storage markets. She previously worked as a research fellow at the Solar Energy Research Institute of Singapore, a national institute for applied solar energy research. She has conducted research and provided consulting services in the areas of solar potential analysis, PV grid integration and solar energy-efficient building, and has presented her work at international conferences and workshops.


This report is also available as part of our Energy Storage Service.