China energy storage market outlook 2019
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.
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.