According to the National Development and Reform Commission on 11th October, the Guideline for Promoting the Development of Energy Storage Technology and Industry launched by the National Development and Reform Commission, The Ministry of Finance and the Ministry of Science and Technology was officially released. It is expected that China will realize the scaled development of the energy storage industry andestablish a fairly comprehensive industrial system in two steps. In this way, energy storage will become a new driver fir economic growth in the energy sector. 
        It is introduced that energy storage is a major component and crucial supporting technology of smart grid, energy systems dominated by renewable energy and energy interconnection. It is a key technology promoting the transition from fossil energy to renewable energy and the foundation for building energy interconnection and promoting power system reform and the development of renewable energy. Currently, China has accelerated the R&D and application of energy storage technologies with fruitful progress and has primarily formed the foundation for industrialized development.

        To further accelerate the development of energy storage, the National Development and Reform Commission said that in 10 years’ time, the development of the energy storage industry will be promoted in two stages. The first stage aims to realize the transition from R&D and demonstration to commercialized application, while the second stage aims to realize scaled development.

        According to the National Development and Reform Commission, China will launch a series of major energy storage demonstration projects to further strengthen the coordinated alignment of power system reform and the market mechanism for energy storage and form a price mechanism for the application of energy storage based on studies of the construction of the power market. China will make efforts to break down the policy barriers in the integration of new devices, identity permission, data exchange and trade mechanism and launch energy and insurance policies, laws and regulations that could facilitate the development of the new model of energy storage. Besides, China will also strengthen the management and protection of IPR in energy storage technology, product and development model.