How has China's Dual carbon goal impacted energy storage?

BEIJING, July 1 -- China's dual carbon goal and targeted policies have provided strong tailwinds, enabling the country's energy storage businesses to thrive amid the rapidly evolving market competition.

What are China's 'Dual carbon' goals?

The "dual carbon" goals delineated by China require a substantial decrease in carbon dioxide emissions per unit of GDP by over 65% from 2005 levels by 2030, and an increase in the share of non-fossil fuel energy consumption to more than 80% by 2060.

What is the dual carbon strategy?

The Dual Carbon Strategy emphasizes balancing economic growth with environmental responsibility, demonstrating that it is possible to advance industrialization while reducing carbon emissions—a model that developing countries can look to as they tackle similar challenges. 1. Transition to Renewable Energy

What are dual-carbon goals?

In this context, dual-carbon goals have been introduced. These goals aim to achieve “zero growth” in carbon emissions, promote economic and societal transformation and upgrading, mitigate climate change, enhance energy efficiency, and foster both economic prosperity and environmental sustainability 7, 8, 9.

Can regulatory competition support or impede the achievement of dual carbon objectives?

These results contribute to understanding how regulatory competition among local governments can support or impede the achievement of dual carbon objectives, emphasizing the need for a competitive yet collaborative regulatory environment to enhance the benefits of renewable energy innovations. 1. Introduction

Why is energy storage important?

Driven by the national strategic goals of carbon peaking and carbon neutrality, energy storage, as an important technology and basic equipment supporting the new power systems, has become an inevitable trend for its large-scale development.