China’s changes to its electricity market and new government support are making energy storage more profitable, leading to a major boom for Chinese battery makers. Demand is rising fast both in China and globally, driven by renewable energy projects, AI data centers, and the need to support aging power grids. Chinese companies already dominate battery cell production and are seeing record exports and full order books, with global shipments expected to jump sharply this year. Analysts say new pricing reforms now allow storage plants to earn money by buying power cheaply and selling it at higher prices, further boosting growth in the sector.
China’s power reforms, global data centre buildout usher in battery boom
