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Nearly 3GW!Statistical Analysis of Energy Storage Projects Commissioned in January and February 2024

published: 2024-03-06 17:33

In January and February 2024, a total of 99 new energy storage projects were commissioned, with a total capacity of nearly 3 GW/7,743 GWh. Of these, 2.457 GW/6.574 GWh were commissioned in January, accounting for 84.38% ,a 186.8%  increase compared to January 2023. However, the new energy storage capacity in February 2024 fell back to normal levels, with a capacity of 45 MW /1169 MWh, a 12.5% year-on-year increase.

Figure : Comparison of Installed Size of New Energy Storage, Jan-Feb 2024

Grid-side energy storage accounted for more than a half , with significant growth in user-side energy storage projects.

In January and February 2024, a total of 17 grid-side and 17 source-side energy storage projects were commissioned. Grid-side energy storage projects totaled 1.613 GW/3.426 GWh, accounting for 55%. Shared energy storage projects accounted for the majority, with a scale exceeding half of the grid-side energy storage projects, and large-scale projects dominated, with 9 projects of over 100 MW commissioned, accounting for 83.5% of the total. Large-scale independent shared energy storage projects have become the main trend.

All source-side energy storage projects were new energy source-side storage projects, totaling 1.003 GW/3.316 GWh, accounting for 35%. Among them, the newly installed capacities of wind power storage and photovoltaic storage were comparable, with 440 MW/1580 MWh and 402.2 MW/1164.4 MWh. The scale of wind and solar energy storage projects was 160.6 MW /571.2 MWh, accounting for 16%.

Figure : Distribution of application scenarios of new energy storage projects on the power side, Jan-Feb 2024

User-side energy storage projects grew rapidly, with 65 projects commissioned in January and February. The projects were mainly micro and small commercial and industrial projects, included several medium-sized commercial and industrial energy storage projects, totaling 297 MW/1001 MWh, accounting for 10% of the total. The projects were mainly concentrated in the provinces of Jiangsu and Zhejiang, with capacities far exceeding those of other provinces.

Figure : Distribution of Installed Size of New Energy Storage by Application Scenario, Jan-Feb 2024

Source: CESA

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