According to the latest Implementation Plan for Development of Beijing's New-type Energy Storage Industry (2024-2027)(the Plan for short), by 2027, Beijing's new-type energy storage industry will achieve high-end, intelligent, and green development, with the revenue expected to exceed CNY 100 billion.

Globally, the new-type energy storage industry is entering a stage of accelerated growth. Forecasts suggest that the installed capacity of new-type energy storage facilities worldwide will maintain a compound annual growth rate of 30 to 40 percent until 2030. China's new-type energy storage sector is poised to achieve growth across the entire industry chain. The country produces over 70 percent of the world's lithium batteries, and stays abreast with or leads its global peers in terms of multiple energy storage technologies.

As one of the sources of new-type energy storage technologies in China, Beijing has strong advantages in R&D innovation, product integration, and factor support, among other aspects, for new-type energy storage. Its commercialized achievements of technological innovation have empowered the entire country. By the end of 2023, the revenue of Beijing's new-type energy storage industry had surpassed CNY 40 billion.

According to Beijing Municipal Bureau of Economy and Information Technology, the Plan proposes four major tasks, namely, breakthroughs in key technologies, demonstration of digital and intelligent fusion, development of industrial clusters, and construction of ecological platforms. These tasks aim to establish a well-developed ecosystem for the coordinated progress of the upstream and downstream players of the industry. Beijing strives to achieve the current goal of becoming a nationwide leading power in terms of technological innovation, digital and intelligent fusion, and public services associated with the industry. It also manages to turn the industry into a highly competitive future industry and establish itself as a world-leading hub for driving the growth of the new-type energy storage industry.

(Source: Beijing Daily)