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China: New energy storage market surges as China pushes for green transition

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[Voiceover] As China accelerates its transition to clean energy, demand is heating up for clean energy storage systems. At a production center for Narada Power in east China's Zhejiang Province, rows of large, silver-white cabinets stand at the ready. These massive "power banks" are designed to store electricity generated from wind and solar sources and are used during peak demand. The general manager of the center says operations have barely slowed this year, with units often getting shipped out immediately after they roll off the production line. [Soundbite] Tan Jianguo, general manager, Lin'an production center, Narada Power: "Our daily output can reach 20 megawatt-hours, which is about four storage container units, each capable of supplying electricity for nearly 50 households [for a day]. Since the beginning of this year, our production lines have run at full capacity, and we expect to remain at maximum output in the first and second quarters of next year." [Voiceover] Tan said growth in orders has become even more pronounced this year, with shipments up more than 80 percent. Large-scale storage systems for power generation and grid applications are now the primary drivers. [Soundbite] Tan Jianguo, general manager, Lin'an production center, Narada Power: "Our shipments of large-scale storage systems have more than tripled compared to last year. We work with grid operators, new energy power generation companies and large energy groups to provide services." [Voiceover] Data from the National Energy Administration shows that China's installed capacity of new-energy storage had exceeded 100 million kilowatts as of this September, accounting for over 40 percent of the global total. [Restrictions: No access Chinese mainland]

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