About China s energy storage explosion
The Apr 16 explosion of a lithium battery station in Beijing—resulting in at least two deaths—is the worst accident in China’s battery storage sector in recent years.
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6 FAQs about [China s energy storage explosion]
Will China's energy storage bloom be disturbed?
China’s energy storage bloom isunlikelyto be disturbed in the long run, but the explosion in Apr. 16 brought clear short-term negative impacts on the nascent battery storage sector. Investment opportunities lie in safer energy storage technology or alternatives, especially those suitable to utility scale and long-form storage.
What is China's new energy storage project?
Built by Lijin County Jinhui New Energy Co, the project is part of an explosion in development of energy storage in China, which has called for even more investment in the sector to boost renewable electricity and ease grid bottlenecks.
Are China's energy storage plants being investigated for fire risks?
REUTERS/Kim Hong-ji/File Photo Purchase Licensing Rights BEIJING, July 8 (Reuters) - Chinese authorities are considering ordering large-scale investigations of energy storage plants for fire risks, in a sign of tighter standards for China's booming battery energy storage industry, the 21st Century Business Herald reported on Monday.
How has China's battery storage industry changed after a deadly accident?
Also, technical providers for safer storage plant design and operation faceimproved market conditionafter the deadly accident. The Apr 16 explosion of a lithium battery station in Beijing—resulting in at least two deaths—is the worst accident in China’s battery storage sector in recent years. [News report details of the accident]
Did China's Investment hype cloud the development of battery storage?
Notably, the accident took place just two weeks after a fire broke out in an LG Chem battery unit in S. Korea. Safety is one of the chokepoints of the global development of battery storage. In China, the investment hype on electrochemical energy storage in recent yearsmight have clouded the issue.
How much energy storage capacity will China have in 10 years?
The amount suggests energy storage capacity shall rise to220GWin ten years. Currently, China has an installed capacity of 35.6GW, of which 31.79 GW is pumped hydro, and 3.269 GW is electrochemical storage. Lithium battery contributed 2.9GW, over 90% of the electrochemical capacity.
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