China is preparing to be the world's leading supplier of vanadium redox flow batteries sooner rather than later

September 26, 2018 | Case Study

China is the largest future market for utility-scale energy projects: Alongside the country's record installation of wind and solar are record curtailments of wind and solar production capacity due to oversupply stemming from China's day-ahead dispatching policy. Energy storage can reduce curtailment rates, which is the primary driver for long-duration energy storage. Short-duration energy storage is similarly driven by grid stability applications like frequency regulation. The overall Chinese utility energy storage market is expected to set a 36% compound annual growth rate by 2025, reaching 13.1 GWh of annual energy storage deployment valued at $6.6 billion/year (see the report Quantifying Growth Opportunities in the $105 Billion Energy Storage Market).