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China is building a stable full of world-leading solar PV and BESS projects by pushing the limits of deployment in scale, speed and location. Projects like the 100GW Great Solar Wall in Inner Mongolia and the 4GW Ruoqiang Solar Project showcase its ability to deploy VRE at an unmatched scale and speed.
Expected growth rate of BESS capacity in China is 44% CAGR between 2023 and 2027 – Power demand management to lessen disparity between energy demand and generation – Integration of renewable energy sources into the power system. – Reduces curtailment rate of renewable energy. – Contributes to coal use reduction in China.
China's solar PV and BESS installations shattered all forecasts in 2024. In 2024, China accounted for half of all new solar PV installations and 70% of global BESS deployments. Ongoing policy support, infrastructure investment, and cost reductions propelled installations to record levels.
The global weighted-average BESS price dropped to US$115/kWh, with bids as low as US$61–82/kWh for some tenders in China. In June 2024, China's Ministry of Industry and Information Technology finalised revised guidelines for the country's BESS industry in response to overcapacity.
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