Has China front-end loaded its ESS installations?
China is on course to install 20.7GW of ESS in 2023; so says BNEF anyway. That’s in excess of the total of 16.9GW installed globally in the whole of 2022! But while this is a startling number, the consultant is not convinced it can be repeated to the same extent next year. It’s currently forecasting that China will add 24.4GW in 2024, an 18% increase. It’s notable that even China’s huge ESS additions haven’t been enough to support the lithium price this year… BNEF’s analysis confirms that ternary technologies are losing ground to LFP, but also notes that LDES chemistries...