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China’s battery storage capacity growth likely to slow in 2024 – ET Auto

Baua Electric

“In 2024, the entire world is in a stage of reconfiguring supply chains, geopolitics are bringing new challenges to supply chains,” CNESA said in the white paper. That estimate lags the expected growth in sales of energy storage products, which will rise 35% year-on-year globally, according to the white paper.

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China’s battery storage capacity growth likely to slow in 2024 – ET Auto

Baua Electric

Growth in China’s battery storage capacity could slow down in 2024, according to an industry association, as energy storage struggles with low profitability. Under a more “ideal” scenario, the association sees China’s new energy storage capacity installations rising 19% year-on-year to 41.2GW, the white paper found.

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