What does China's new power market regulation mean for energy storage?

China’s updated power market regulation now encompass a broader range of market participants, including energy storage entities, in a bid to ensure secure operation. From pv magazine ESS News site China’s National Development and Reform Commission (NDRC) has recently updated its electricity market operation rules, which will take effect on July 1.

What is the 'guidance on accelerating the development of new energy storage?

Since April 21, 2021, the National Development and Reform Commission and the National Energy Administration have issued the ‘Guidance on Accelerating the Development of New Energy Storage (Draft for Solicitation of Comments)’ (referred to as the ‘Guidance’), which has given rise to the energy storage industry and even the energy industry.

What is the 'guidance' for the energy storage industry?

Based on the above analysis, as the first comprehensive policy document for the energy storage industry during the ‘14th Five-Year Plan’ period, the ‘Guidance’ provided reassurance for the development of the industry.

Is China's solar PV potential priced lower than coal-fired energy?

According to our results, approximately 78.6 % and 99.9 % of China's technical solar PV potential are priced lower than the benchmark price of coal-fired energy in pessimistic and optimistic scenario.

How many provinces and cities in China are implementing energy storage policies?

At present, more than 20 provinces and cities in China have issued policies for the deployment of new energy storage. After energy storage is configured, how to dispatch and operate energy storage, how to participate in the market, and how to channel costs have become the primary issues which plague new energy companies and investors.

Is solar power more cost-competitive than coal-fired power generation?

The average national benchmark price of coal-fired power generation is 0.3726 CNY/kWh (excluding Tibet due to the lack of data) (Table S6). Therefore, in order to identify more cost-competitive solar PV power, we compared the price of solar PV power to the benchmark price of coal-fired power generation.