Energy storage boom strengthens demand outlook for beaten
A boom in battery storage has bolstered the demand outlook for lithium in 2026, driving hopes for an accelerated turnaround for an industry struggling with oversupply.
In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. 2023 was a breakthrough year for industrial and commercial energy storage in China. Projections show significant growth for the future.
In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. In China, generation-side and grid-side energy storage dominate, making up 97% of newly deployed energy storage capacity in 2023. 2023 was a breakthrough year for industrial and commercial energy storage in China.
Photo: Handout China's energy-storage sector is still reeling from a relentless price war after years of overproduction. Overall capacity in the new-type energy-storage sector rose by almost 10 times between 2020 and 2023, the National Energy Administration said last week.
China's energy-storage industry is facing a challenging outlook this year due to the escalating US-China trade war and weaker government support, prompting one industry group to caution against price competition.
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