China’s energy-storage industry is facing a challenging outlook this year due to the escalating US-China trade war and weaker government support, prompting one industry group to caution against price competition.
With exports to its biggest market in the US likely to be hit by higher tariffs, the nation’s producers are projected to trim their capital expenditure by 10 to 20 per cent this year, according to consultancy WaterRock Energy Economics. As a result, annual expansion of battery energy-storage systems (BESS) could shrink to as low as 30 gigawatts (GW) this year from 42GW in 2024, it said.
