1、NEW ENERGY FOR A NEW ERATHE CHINA BATTERY ENERGY STORAGE SYSTEM(BESS)MARKETGREATER CHINA RESEARCHApril 20242 The China Battery Energy Storage System(BESS)MarketCONTENTSExecutive Summary IntroductionBESS The ConceptBESS Why is it Needed?BESS ApplicationBESS Benefits and AdvantagesBESS Policy in the C

2、hinese Mainland MarketBESS Sector Development,Industry Players and Market Outlook for the Chinese Mainland MarketBESS Development FinancingKey TakeawaysBusiness ContactsResearch Contacts030406070810121316182122New Energy for a New Era 3A Battery Energy Storage System(BESS)secures electrical energy f

3、rom renewable and non-renewable sources and collects and saves it in rechargeable batteries for use at a later date.When energy is needed,it is released from the BESS to power demand to lessen any disparity between energy demand and energy generation.BESS types include those that use lead-acid batte

4、ries,lithium-ion batteries,flow batteries,high-temperature batteries and zinc batteries.China is committed to steadily developing a renewable-energy-based power system to reinforce the integration of demand-and supply-side management.An augmented focus on energy storage development will substantiall

5、y lower the curtailment rate of renewable energy and add tractability to peak shaving,contributing to coal use reduction in China.In terms of BESS infrastructure and its development timeline,Chinas BESS market really saw take off only recently,in 2022,when according to the National Energy Administra

6、tion(China)and China Energy Storage Alliance(CNESA)data,new energy storage capacity reached 13.1GW,more than double the amount reached in 2021.Ahead and heading into a new era for new energy,it is expected that Chinas energy storage capacity and its BESS capacity in particular will grow at a CAGR ra