Abstract:

New-type energy storage approaches, as a crucial component and key pillar in the construction of China's new energy system, play a vital role in ensuring the secure and stable operation of the modern power system and driving the transition to green and low-carbon technologies. While China has recently witnessed rapid growth in new-type energy storage installations and the gradual development of a policy framework, the industry still faces multiple challenges in achieving high-quality development. This study systematically reviews the evolution of the new-type energy storage industry in China, summarizes the key policies introduced since the 14th Five-Year Plan period, and thoroughly analyzes the progress and critical issues in technological innovation, technoeconomic viability, industrial competition, and institutional mechanisms. The findings revealed that China is currently at a critical juncture in integrating the new-type energy storage with the power system, with significant future potential. However, challenges such as high costs, pending breakthroughs in disruptive technologies, immature electricity market and dispatch mechanisms, intensifying "involution" and growing obstacles in global expansion persist. To address these issues, it is imperative to advance coordinated planning across power generation, grid infrastructure, load management, and storage systems; improve top-level institutional design and legal safeguards; accelerate breakthroughs in key technological bottlenecks; expedite product upgrades and iterations; refine electricity market and pricing mechanisms; enhance profitability; and promote broader and more diversified applications of new-type energy storage. These efforts will facilitate the transformation of the energy system and industrial upgrading.

Key words: new-type energy storage, long duration energy storage, capacity payment, generation-grid-load-storage coordination