China's largest state-owned grid operator and power utility plans to deploy the world's biggest battery fleet and almost quadruple its pumped hydro storage by 2030, thus supporting the nation’s switch to renewable energy sources.
State Grid Corporation of China (SGCC), which operates roughly 80% of the nation’s electricity grids spanning across 26 provinces, has unveiled plans to massively expand its battery storage fleet and pumped hydro storage capacity and thus help the nation move towards its decarbonization goals.
Under a five-year plan released this week, China is aiming to slash battery storage costs by around 30% by 2025, paving the way for local industries to dominate the global market by 2030. In addition, the fifteenth five-year plan drafted by the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) gives special attention to compressed air storage and envisages that this technology will realize engineering applications in units of 100MW of capacity.
Furthermore, SGCC is also planning to increase its cross-provincial power transmission capacity and support the buildout of solar and wind in the western desert areas. Finally, the grid operator will also seek to implement flexible DC transmission, virtual power plants, safety and stability of large power grids, and ultra-high voltage tap-changers, among other technologies.
SPCC made these plans to align with the Chinese government's dual carbon goal to reach peak carbon emissions by 2030 and achieve carbon neutrality by 2060. China's decarbonization policy has already created pressure on state-owned enterprises mandating energy storage with the order to build renewables-plus-storage projects introduced for the very first time by the National Energy Administration (NEA) last April.
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