The most notable finding: by the end of 2024, China had reached 73.76 GW / 168 GWh in cumulative new energy storage capacity—an increase of more than 130% year-on-year. This figure accounts for over 40% of the global total, consolidating China''s leading position in the international NES market.
By the end of 2023, China had completed and put into operation a cumulative installed capacity of new type energy storage projects reaching 31.4GW / 66.9GWh, with an average storage duration of 2.1 hours. The newly added installed capacity in 2023 was approximately 22.6GW / 48.7GWh, which is three times that for 2022 (7.3GW / 15.9GWh).
Residential storage accounted for 88% of new installations in both Q3 and year-to-date figures (by energy capacity). By September 2024, Germany''s cumulative battery storage installations totaled 10.3 GW/15.9 GWh, with residential systems making up 85% of the total.
In Q3 alone, newly installed capacity amounted to 6.79 GW/16.89 GWh, showing year-on-year increases of 62% and 99%, but quarter-on-quarter declines of 29% and 26%, respectively. Fig 2: Cumulative Installed Capacity of Operational Non-hydro Energy Storage Projects in China (as of Sep 2024)
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Cumulative installed storage capacity, 2017-2023 - Chart and data by the International Energy Agency.
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Global installed energy storage capacity by scenario, 2023 and 2030 - Chart and data by the International Energy Agency.
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By the end of 2024, the cumulative installed and operational capacity of new energy storage projects nationwide reached 73.76 GW/168 GWh, approximately 20 times that …
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