LONDON,Jan. 12, 2016/PRNewswire/ -- Energy storage finds wide application in electric power system, involving all aspects of power generation, transmission, distribution and end user. Technically, energy storage for grid system can be divided into mechanical energy storage, chemical energy storage and electromagnetic energy storage, including the widely used pumped storage under mechanical energy storage, as well as sodium-sulfur batteries, lithium batteries and lead-acid batteries which belong to the scope of chemical energy storage.

In the past five years, the global installed capacity of energy storage for grid system (excluding pumped storage, compressed air storage and thermal storage) has maintained the growth rate of around 20%, hitting 840MW in 2014. By technology, sodium-sulfur batteries and lithium-ion batteries occupy 75% of the global installed capacity together as the mainstream.

In 2014,China'sinstalled capacity of energy storage for grid system (excluding pumped storage, compressed air storage and thermal storage) accounted for about 10% of the world, up over 50% from 2013; meanwhile ,China'sdevelopment pace was far higher than the global growth rate. Unlike foreign counterparts,Chinaemphasizes lithium-ion batteries which share 71% ofChina'stotal installed capacity, followed by the lead-acid batteries with about 14%.

To create a clean, sustainable future, the Chinese government is shifting its focus in policy to clean energy technology. As of the end of 2014,China'swind power generation installed capacity had reached 114.6GW, becoming the third power source inChinafollowing thermal power and hydropower. Meanwhile,Chinahad seen the photovoltaic (PV) power generation installed capacity of 28.1GW, overtakingthe United Statesas the world's largest PV market. In 2014, the demand of Chinese grid-connected wind power and PV for energy storage equaled to 5.7GW and 3.5GW respectively.

Now, there has been scores of energy storage enterprises inChina. Among them, BYD, China Aviation Lithium Battery Co., Ltd. and Sunwoda Electronic Co., Ltd. employ lithium battery energy storage technology; Zhejiang Narada Power Source Co., Ltd. and Shandong Sacred Sun Power Sources Co., ltd. adopt lead-acid battery technology; Dalian Rongke Power Co. Ltd and Prudent Energy Inc. depend on fluid flow battery technology; Shanghai Electric Group Co., Ltd. and Sieyuan Electric Co., Ltd. resort to sodium-sulfur energy storage technology.

The report is mainly concerned with the followings:
Development environment, trends, etc. of energy storage for grid system inChina;
Current situation and prediction of energy storage for grid system inChina, like market size, competitive landscape, , etc.;
Status quo and forecast for energy storage applications inChina;
Operation and business analysis of 21 major energy storage companies inChinaand the world.
Download the full report:

About Reportbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers