Core Viewpoint - The development of the new energy storage industry in China is rapidly advancing, with significant growth in installed capacity and technological diversity, positioning it as a crucial component of the new power system and a key player in achieving carbon neutrality goals [1][2][3]. Group 1: Industry Development - China's new energy storage industry has seen a rapid increase, with installed capacity exceeding 137.9 GW by the end of 2024, marking a year-on-year growth of 59.9%, and new energy storage capacity reaching 78.3 GW, with a power scale growth of 126.5% [2]. - The industry has entered a phase of large-scale application, with over 280,000 registered energy storage-related businesses by the end of 2024, and a record 89,000 new registrations in 2024 [3]. - The technology landscape is diversifying, with lithium-ion batteries dominating but also significant advancements in compressed air storage, flow batteries, and sodium-ion batteries, with projects exceeding 300 MW in power scale [3]. Group 2: Challenges and Barriers - The new energy storage sector faces technical challenges, including the need for advancements in safety, cost, and lifespan of technologies, with key areas such as high-temperature membrane materials and battery recycling requiring breakthroughs [4]. - Market mechanisms are still underdeveloped, lacking a national consensus on pricing, which affects the stability and profitability of energy storage services across various applications [4][5]. - The regulatory framework and industry standards are not fully established, leading to inconsistencies in product quality and project evaluation, necessitating a comprehensive lifecycle management system for energy storage projects [5]. Group 3: Recommendations for Improvement - To enhance the new energy storage sector, there is a need for strengthened technological innovation, focusing on low-cost, long-life, and high-efficiency storage solutions, alongside the establishment of innovation centers and research hubs [6]. - A sustainable market development mechanism should be established, with clear pricing structures and supportive policies to foster a conducive environment for the energy storage industry [6][7]. - The development of technical standards and industry norms is essential, including the creation of a certification system and lifecycle management frameworks to ensure the long-term stability and safety of energy storage systems [7].