New energy storage foreign trade potential

Why is China focusing on energy storage?

As part of its more enormous energy transformation aims, China has given energy storage top priority, hoping to dramatically raise the proportion of renewable energy sources in its energy mix.

How will the energy storage industry grow in 2021?

The worldwide energy storage industry is projected to expand from over 27 GW in 2021 to more than 358 GW by 2030, propelled by breakthroughs in technology and declining costs . The ongoing reduction of costs will be driven by the increase in production volumes and the optimization of supply chains.

Does China have a trade potential in RCEP countries?

In order to analyze the trade potential of Chinese renewable energy products in RCEP countries in 2020 and to find potential markets, this paper further marks the types of trade potential of 14 RCEP countries other than China on the map, and the results are shown in Figure 2 . China has a high trade potential in East Asia.

How does trade gravity affect energy production in East Asia?

From the perspective of the trade gravity model, this result can be explained by the potential of the East Asian region, which has a higher GDP, electricity consumption, and particle emission damage, to import the highest-renewable energy products.

Can energy storage meet global climate goals?

The IRENA highlights the importance of energy storage in meeting global climate goals, pointing out that doubling the proportion of renewable energy in the world's energy mix by 2030 will require a significant increase in storage capacity .

Is the US a good place to invest in stationary energy storage?

The United States has undeniable advantages as the world’s largest economy. The trajectory of the U.S. advanced battery industry is trending upwards, suggesting the next twenty years will see significant opportunities in stationary energy storage. This chapter was prepared by David Roberts, Tim O’Hara, and Ashley Gordon Schaefer with NAATBatt.