How much has installed energy storage capacity grown?

  • As of the end of September 2026, the installed capacity of new-type energy storage built and put into operation nationwide reached 167 million kilowatts, with storage capacity reaching 435 million kilowatt-hours, an increase in scale of 63% year on year.
  • The average storage duration was 2.61 hours, approximately 0.27 hours longer than a year earlier. Energy storage is evolving from a supporting facility for renewable energy into a new form of infrastructure for the power system.

Why does growth in computing create demand for energy storage?

  • Ping An Securities expects nationwide electricity consumption for computing to increase by more than 100 billion kilowatt-hours annually during the Fifteenth Five-Year Plan period, reaching 800 billion kilowatt-hours by 2030 and accounting for approximately 6% of total electricity consumption.
  • Direct green power supply delivers renewable electricity to nearby computing loads through dedicated lines. As this model is gradually implemented, energy storage can help meet requirements for the proportion of self-generated electricity consumed on site, potentially opening up demand.
  • Battery companies are incorporating energy storage for data centers into their strategic planning. The article expects large-scale deliveries could begin in 2027; there is still a time lag between expanding demand and large-scale deliveries.

How are the relevant companies progressing with technology and projects?

  • China Southern Power Grid Energy Storage has developed a range of proprietary intellectual property in areas including variable-speed pumped-storage units, core pumped-storage control systems, “AI + pumped storage,” and safe applications of lithium-ion and sodium-ion energy storage.
  • Xu Ji Electric's grid-forming energy storage products have been used in multiple domestic projects, covering large-scale energy storage, off-grid hydrogen production, microgrids, and support for renewable energy grid integration; the cumulative capacity of grid-forming projects in which it has participated exceeds 1 gigawatts.