Energy storage in China: Development progress and business model

With the proposal of the “carbon peak and neutrality” target, various new energy storage technologies are emerging. The development of energy storage in China is accelerating, which has extensively promoted the development of energy storage technology. Even though several reviews of energy storage technologies have been published, there are still some gaps that need to be filled, including: a) the development of energy storage in China; b) role of energy storage in different application scenarios of the power system; c) analysis and discussion on the business model of energy storage in China. Thus, this part needs to be summarized. Energy storage has entered the preliminary commercialization stage from the demonstration project stage in China. Therefore, to realize the large-scale commercialization of energy storage, it is necessary to analyze the business model of energy storage. Providing readers with an overview of energy storage will contribute to the future development of energy storage business models.