Climate Change: China to slash costs of energy-storage systems for industry to leapfrog the world by 2030, according to five-year plan

Feb 24, 2022 | INVESTING

China’s government plans to cut the cost of energy storage systems by 2025 to help local industries leapfrog the world as the vanguard of novel energy storage technology five years later.The production cost of large chemicals-based systems will be cut by 30 per cent by 2025, while compressed air energy-storage technology would realise “engineering applications” in units with 100 megawatts of capacity, according to a five-year plan drafted by the National Development and Reform Commission (NDRC)…

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