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2025-04-27 BY
IN Industry trends

New energy storage: installed capacity exceeds pumped storage for the first time, with a target output value of over 3 trillion yuan by 2025

The latest statistical data from the Zhongguancun Energy Storage Industry Technology Alliance (CNESA) shows that in 2024, the installed capacity of new energy storage in China exceeded pumped storage for the first time.
On January 15th, the Energy Storage International Summit and Exhibition 2025 Press Conference and CNESADataLink 2024 Energy Storage Data Release Event were held in Beijing. At the meeting, Chen Haisheng, president of Zhongguancun Energy Storage Industry Technology Alliance (hereinafter referred to as “CNESA”) and director/researcher of Institute of Engineering Thermophysics, Chinese Academy of Sciences, comprehensively summarized the development of new energy storage industry in 2024 and looked forward to the development trend in 2025.
According to incomplete statistics from the CNESADataLink global energy storage database, as of the end of 2024, China’s cumulative installed capacity of electric energy storage exceeded 100 gigawatts for the first time, reaching 137.9 GW. The installed capacity of new energy storage exceeded pumped storage for the first time, reaching 78.3 GW/184.2 GWh, with a year-on-year increase of 126.5%/147.5% in power/energy scale.
Figure 1 Cumulative installed capacity of new energy storage systems in operation in China (as of the end of December 2024)
In 2024, China’s new energy storage will add 43.7GW/109.8GWh to operation, a year-on-year increase of 103%/136%. From a regional distribution perspective, Xinjiang and Inner Mongolia rank first in terms of energy scale and power scale, and are also provinces dominated by new energy distribution and independent energy storage, respectively.
The decline in the average bid price of energy storage systems is slowing down. The scale of the new energy storage bidding market continues to grow. In 2024, a total of 528 companies released energy storage system procurement information, and 1105 companies released EPC procurement information, with year-on-year growth of 68% and 115% respectively. Due to the increasing standardization of energy storage systems, more and more large state-owned enterprises are choosing to adopt centralized procurement/frame procurement. In 2024, there were a total of 217 winning bid sections, with 46% of the total number of centralized/frame procurement bid sections among the TOP15 enterprises. From the technical requirements of centralized procurement/frame procurement, on the one hand, the qualification threshold for suppliers has been raised, and the requirements for product shipment performance, project performance, research and development strength have been further tightened. Leading enterprises have strong competitive advantages; On the other hand, it has a large scale and strong appeal to enterprises, making it the main battlefield for low-priced bidding.
Figure 2 Top 15 shortlisted bidding companies for the 2024 energy storage system centralized procurement and frame procurement
From the perspective of the entire bidding market in 2024, there are three characteristics. One reason is that EPC dominates the bidding market, and in 2024, the scale of EPC bids and the number of winning companies are higher than those of energy storage systems; Secondly, the market competitiveness of top integrated enterprises is becoming stronger, with the bidding scale of the top 15 energy storage system enterprises reaching 57% of the total bidding scale, further increasing compared to last year; The third is the procurement of individual projects, and owners are more inclined to achieve turnkey projects through EPC bidding.
In terms of winning bid prices, the decline in the average winning bid price of energy storage systems in 2024 has slowed down. The annual average winning bid price of 2-hour lithium iron phosphate energy storage systems is 628.07 yuan/kWh, a year-on-year decrease of 43%. The average bidding price of EPC has fluctuated and decreased throughout the year, with an average bidding price of 1181.28 yuan/kWh.
The target output value of new energy storage has exceeded 3 trillion yuan. From the perspective of output value planning, new energy storage, as a new engine for economic growth, has been emphasized in industrial planning in multiple regions. The output value target set by 2025 has exceeded 3 trillion yuan. In addition, several regions have proposed output value targets for 2027 and 2030, reflecting the importance that local governments attach to the planning and layout of the new energy storage industry.
From the perspective of investment and financing, there have been over 107 investment and financing events involving energy storage related enterprises in the primary market, with a disclosed amount of nearly 17.6 billion yuan, a year-on-year decrease of 70% compared to 2023. Among the financing directions, 45 are focused on system integration, charging and swapping, lithium batteries, and materials. In the field of non lithium battery technology, sodium batteries and solid-state batteries have received high attention.
What are the development trends of new energy storage in 2025?
Figure 3 Prediction of cumulative installed capacity of new energy storage in China (2025-2030)
According to CNESA’s forecast, the newly installed capacity of new energy storage is expected to be between 40.8GW-51.9GW by 2025, with an average of around 45GW. At the same time, the new type of energy storage will exhibit five distinct characteristics: from the perspective of energy storage value, the value of large-scale regulation and supply guarantee will continue to increase; From the perspective of participating in the electricity market, with the continuous improvement of the market connection mechanism, the participation in market services is evolving towards the “integrated multi use, time-sharing reuse” model; The industry reshuffle is intensifying, and the number of abnormal energy storage related enterprises such as deregistration and revocation will double by 2024; Technological innovation promotes the transformation of the industry from “roll price” to “roll value”; From the perspective of market size, it is expected that the cumulative installed capacity of new energy storage will exceed 100 million kilowatts by 2025.
2025-04-27 BY
IN Industry trends

Energy listed companies in the top 50 ESG: higher than the average level of A-shares, still lagging behind the Shanghai and Shenzhen 300

A comprehensive transformation triggered by ESG is accelerating the reshaping of the energy business ecosystem.
At the 7th China Energy Communication Conference and ESG Brand Forum held recently, the first ESG ranking report focusing on energy listed companies in China, “The Power of Role Models: 2024 China Energy Listed Companies ESG 50 Report” (hereinafter referred to as the “ESG50 Report”), was officially released.
The China Industry News reporter learned that the ESG50 report was jointly released by Huaxia Energy Network and Shangdao Ronglv. 639 listed companies related to energy in the Shenwan industry category were selected as research objects. Based on the ESG rating results of Shangdao Ronglv in the third quarter of 2024, and considering multiple dimensions such as industry influence and public reputation, the top 50 companies with leading ESG comprehensive performance were finally selected.
2024 China Energy Listed Companies ESG 50 List
The 50 listed companies mainly cover four categories: wind and photovoltaic new energy (21), energy storage battery electric vehicles (9), oil, coal, and natural gas (7), and power equipment for power generation grids (13), with strong industry representativeness.
According to the rating results, the ESG performance of the top 50 companies has significantly improved compared to the previous year as a whole. Compared to the rating in 2023, 19 companies have upgraded their ratings, while the rest remain unchanged. Among the 50 companies on the list, a total of 17 have achieved A-level, accounting for over one-third.
Li Jing, Vice President and Sustainable Development Officer of JA Solar, one of the top 50 companies, stated that JA Solar has put forward the G2G sustainable development philosophy and established an ESG three-layer governance structure internally. In the 2030 and 2050 climate goals proposed by JA Solar, the total greenhouse gas emissions within the operating scope will be reduced by 42% compared to 2023 by 2030, and net zero greenhouse gas emissions will be achieved by 2050.
Tu Jianbang, Deputy General Manager of Securities Affairs Department of GCL Integrated, stated that ESG brings regulatory compliance risks, overseas trade risks, investment and financing cost risks, competition and brand risks to GCL Integrated. At the same time, it also brings opportunities for GCL Integration. Good ESG management can attract talent, expand markets, establish brand reputation, address climate change challenges, and achieve sustainable value and long-term development.
Comparing the five Wind indices of new energy, steel, mining, building materials, and coal, it can be found that although the average ESG score of the constituent stocks of the new energy index is higher than the other four traditional industry indices, the absolute difference is not significant. Traditional industry enterprises such as Zijin Mining, Baosteel Group, and China Shenhua have also received AA ratings due to their outstanding performance in ESG. ”Dong Deshang, the head of Wind ESG rating at Wande, analyzed.
ESG comprehensively evaluates the sustainable development of enterprises from three dimensions: environmental, social, and corporate governance.
The ESG50 report released the overall ESG performance of Chinese energy listed companies. In 2024, the average ESG score of listed companies in the energy industry is 56.65 points, higher than the average score of 53.83 points for all A-shares during the same period. From the perspective of ESG performance improvement, the average ESG score of listed companies in the energy industry has increased by 5.71% compared to 2023, higher than the growth rate of all A-shares (4.53%) and the Shanghai and Shenzhen 300 (5.58%) during the same period.
Comparison of ESG Average Scores in the Energy Industry (Data Source: Shangdao Ronglv)
In addition, from the perspectives of environment, society, and governance, the average ESG scores of energy listed companies are also higher than the average level of all A-shares. From the perspective of sub topics, the average ESG scores of energy listed companies are mostly higher than the average scores of all A-shares. Especially in terms of product management, the average score of listed companies in the energy industry is 69.2, which is not only higher than the average score of all A-shares, but also higher than the average score of the Shanghai and Shenzhen 300.
However, compared to the average score of 66.05 in the Shanghai and Shenzhen 300, there is still a certain gap for energy listed companies. Specifically, energy listed companies still have certain gaps compared to the Shanghai and Shenzhen 300 in terms of environmental policies, energy and resource consumption, pollutant emissions, climate change response, employee development, supply chain management, community, business ethics, and compliance management. This means that there is still significant room for improvement in ESG in the energy industry, and it requires joint efforts from the entire industry.
Faced with various challenges, China’s new energy needs to continue to strengthen itself without interference, keeping in mind that ‘development is the hard truth’; at the same time, it should also follow the trend, integrate into the international community, and use ESG as a lever to tell the story of China’s energy. We should adhere to sustainable development and be practitioners of ‘long termism’; Aligning with global ESG standards and becoming a qualified citizen of the international community; Integrate locally and internationally, and become a disseminator of Chinese brands and civilization. ”Zhang Yuqing, former member of the Party Group and Deputy Director of the National Energy Administration, suggested.
Chai Qimin, Director of the Strategic Planning Department of the National Climate Strategy Center, also admitted that the ESG concept coincides with China’s green and low-carbon development concept. Currently, ESG in China is in a stage of rapid development from the beginning. The current problems in the field of new energy are not resource related, but largely institutional and structural issues. Only by innovating systems and reforming mechanisms can we ensure the high-quality development of the new energy industry and make it a competitive industry on a global scale.
2025-04-27 BY
IN Industry trends

In 2024, Inner Mongolia Autonomous Region’s raw coal production will rank first in the country

In recent years, Inner Mongolia Autonomous Region has earnestly implemented the new energy security strategy of “Four Revolutions and One Cooperation”, anchored its strategic positioning as an important national energy and strategic resource base, and, with the guidance and assistance of the National Development and Reform Commission and the National Energy Administration, made every effort to ensure the national coal supply. In 2024, the region’s raw coal production reached 1.297 billion tons, surpassing Shanxi Province and ranking first in the country (1.269 billion tons, a year-on-year decrease of 6.9%), with a year-on-year growth rate of 5.4%, 4.1 percentage points higher than the national growth rate. Among them, the three major coal producing areas of Ordos City, Xilingol League, and Hulunbuir City account for 88.3% of the total coal production in the region and 24.1% of the national coal production.
In the process of developing the coal industry, Inner Mongolia Autonomous Region adheres to improving the policy system and steadily promoting the release of advanced coal production capacity. Local regulations such as the “Regulations on Coal Management in Inner Mongolia Autonomous Region” and the “Regulations on Promoting the Construction of National Important Energy and Strategic Resource Bases in Inner Mongolia Autonomous Region” have been successively introduced, and policies and systems such as the “Opinions on Promoting High quality Development of the Coal Industry” and the three-year action plan, as well as the “Plan for Stable Continuation and Orderly Development of Coal Production Capacity in the Autonomous Region” have been formulated. By accelerating the increase in coal mine production capacity, approving new projects, and constructing ongoing projects, we aim to maintain stable coal production capacity throughout the region. At the same time, the intelligent construction of coal mines in the entire region has caught up and entered the forefront of the country. 205 coal mines in the region have completed intelligent construction, and the production capacity of intelligent coal mines accounts for 88% of the total production capacity. All coal mines with a production capacity of over 10 million tons in the entire region have completed intelligent construction, further improving the production efficiency of coal mines and effectively promoting the high-quality development of the coal industry in the region.
Next, Inner Mongolia Autonomous Region will continuously optimize the layout of the coal industry, further release advanced coal production capacity, maintain stable coal production and supply, and fully play the role of coal as a “ballast” and “stabilizer” in energy supply.
2025-04-27 BY
IN Industry trends

Prudential Chairman Zhang Yan: Blocking the “leakage point” of dual valves leads the industry to “rejuvenate”

In September 2024, a new policy was announced to promote the comprehensive renovation of tank breathing valves in Nanjing Jiangbei New Area, achieving an annual reduction of over 2000 tons of VOCs emissions.
The Jiangbei New Area New Material Science and Technology Park has a total of 982 organic material storage tanks and 1472 tank breathing valves, accounting for 66% of the tank breathing valves in Nanjing. Zhou Jun, Deputy Director of the Science and Technology Park Supervision Bureau of Nanjing Jiangbei New Area Ecological Environment and Water Affairs Bureau, stated that ordinary breathing valves and emergency relief valves can no longer meet the latest national safety and environmental protection requirements. The low leakage breathing valve, with its precise sealing structure and advanced control mechanism, ensures rapid response to pressure changes inside the storage tank, ensuring safe operation of the tank. At the same time, its superior sealing can reduce medium emissions and reduce the leakage of ordinary breathing valves from “two swimming pools” to “one water cup”; By reducing dielectric loss, good economic benefits can also be achieved.
Zhang Yan, Chairman of Nanjing Prutaige Safety Equipment Engineering Co., Ltd
Addressing the pain points of ‘dual valves’ with diverse products that meet the latest requirements
Storage tanks are major emitters of VOCs, and one of the root causes is the problem of “continuous discharge” and “continuous leakage” of breathing valves and emergency relief valves. ”On January 14, 2025, Zhang Yan, Chairman of Nanjing Prutaige Safety Equipment Engineering Co., Ltd. (hereinafter referred to as “Prutaige”), stated in an exclusive interview with China Industry News. Prutaige environmental protection technology solves the pain point of “dual valves”, improves the sealing of storage tanks, and solves the problem of unorganized VOCs emissions from storage tanks from the source. The State Council’s “Action Plan for Continuous Improvement of Air Quality” (Guofa [2023] No. 24) proposes to encourage the use of low leakage breathing valves and emergency pressure relief valves in storage tanks. The country has made low leakage breathing valve technology an important part of the action plan for continuous improvement of air quality, which is a great encouragement for Prutek and myself, “Zhang Yan said emotionally.” As people become increasingly aware of the importance of using low leakage breathing valves and emergency relief valves, it means that more new quality productivity has become the driving force for green transformation
We tailor our products to different storage tanks, media, and operating conditions for enterprises in Jiangbei New Area, providing over ten different types of products. For example, for media that are prone to crystallization and polymerization, we offer self operated anti crystallization and anti polymerization integrated flame retardant breathing valves. For heavy oil tanks in refining enterprises, we provide anti solidification integrated flame retardant breathing valves. “Zhang Yan explained,” This is also one of the reasons why Prutaige can lead the industry, because we can provide different selection schemes according to different usage scenarios
Pruitt ® Ultra low leakage breathing valve series products
It is understood that in the current breathing valve industry, it is often the manufacturer’s wheel hammer, and the phenomenon of “one breathing valve, one structure travels all over the world” is not uncommon. But such a product strategy is not feasible in the view of Prutaige. Product diversity is a concentrated reflection of a company’s strong vitality, “said Zhang Yan.
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