How many new energy storage projects are there?
According to NEA's Bian, the government has released a list of 56 new-type energy storage pilot demonstration projects since the beginning of this year, including 17 lithium-ion battery projects and 11 compressed air energy storage projects, among others.
How will solar and wind projects be financed?
The remaining project costs will be covered through syndicated bank loans. The solar plant is expected to be completed by the end of , while the wind project is scheduled for completion by the end of .
Why is China developing solar and wind power?
"This is especially significant as China has been developing solar and wind power on a large scale, amid efforts to boost renewable power consumption while ensuring stable operation of the electric grid system."
What is new energy storage?
New energy storage, or energy storage using new technologies such as lithium-ion batteries, liquid flow batteries, compressed air and mechanical energy, is an important foundation for building a new power system in China, enjoying the advantages of quick response, flexible configuration and short construction periods.
How much green energy does Microsoft use?
Renowned as one of the globe's foremost corporate purchasers of green energy, Microsoft currently boasts contracts for more than 20GW of renewable power. In , it clinched a spot in an elite league of top green energy users, powered entirely by small-hydro, wind and solar resources, covering its mammoth 6.7bn kWh electricity usage.
Why is energy storage important in China?
Developing energy storage is an important step in China's transition from fossil fuels to renewable energy, while mitigating the effect of new energy's randomness, volatility and intermittence on the grid and managing power supply and demand, he said.
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