Shenneng business park power storage

Is China ready to commercialize energy storage?

China is currently in the early stage of commercializing energy storage. As of 2017, the cumulative installed capacity of energy storage in China was 28.9 GW , accounting for only 1.6% of the total power generating capacity (1777 GW ), which is still far below the goal set by the State Grid of China (i.e., 4%–5% by 2020) .

What is the future of power storage?

With increasing use of wind and solar power, the market prospect of power storage is very promising," said Liu Jing, associate dean and professor of accounting and finance at the Cheung Kong Graduate School of Business. "In the past, coal was merely the only source of electricity, and many grid operators do not store energy due to high costs.

Is underground air storage a viable energy storage option?

Underground air storage is a large-scale energy storage option with relatively low cost (Table 3). The two existing commercial CAES plants, the Huntorf plant the McIntosh plant, both use underground salt cavern for energy storage.

Should China develop a CAES power plant based on underground air storage?

Based on China's current national conditions, several conclusions are drawn from this review. First, grid-level (100 MW and above) CAES power plants based on underground air storage are the first choice for developing CAES in China due to its mature technology and available geographical conditions.