In 2023, the completed investment in new energy will increase by more than 34%, and new energy storage will develop rapidly——

New developments in the energy sector add momentum to the economy (Rui Finance)

  Reporter Qiu Haifeng

  The National Energy Administration recently held a press conference to introduce China's new energy storage development and investment in key projects in the energy field in 2023. Data released at the meeting showed that energy investment will maintain rapid growth in 2023, with completed investment in new energy increasing by more than 34% year-on-year; new energy storage is developing rapidly, with new installed capacity of approximately 22.6 million kilowatts/48.7 million kilowatt-hours; National Electricity The electricity volume traded in the market was 5.7 trillion kilowatt-hours, a year-on-year increase of 7.9%... New developments in the energy field continue to add vitality and momentum to the economy.

  National energy investment growth remains at a high level

  How will the investment completion status of key projects in China's energy field be in 2023?

  In 2023, the energy industry will coordinate the promotion of energy security and green and low-carbon transformation, effectively play the driving role of energy investment, continue to release the investment potential of coal, electricity, and oil and gas infrastructure, and promote new energy and new business projects to accelerate the formation of physical workload. According to monitoring, the investment in key energy projects under construction across the country and planned to be started within the year is approximately 2.8 trillion yuan, with a year-on-year growth rate that is 1.6 percentage points higher than the same period last year.

  Looking at new energy investment, the completed investment in solar power generation exceeded 670 billion yuan, and the completed investment in centralized photovoltaics in three provinces (regions) including Yunnan, Hebei, and Xinjiang all increased by more than 100% year-on-year. The completed investment in wind power exceeded 380 billion yuan. The investment in onshore wind power in Liaoning, Gansu and Xinjiang provinces was accelerated, and the investment in new large-scale offshore wind power projects in Guangdong and Shandong provinces was concentrated.

  Looking at the investment in supporting adjustable power supply, the completed investment in supporting adjustable power supply increased by more than 12% year-on-year. Nuclear power projects under construction are being promoted in an all-round way, and new projects approved during the year are accelerating to form physical workloads. Investment in large hydropower projects continues to recover.

  Looking at investment in new energy formats, investment in comprehensive energy has grown rapidly, and a number of source-grid-load-storage integration and multi-energy complementary projects in the northwest region have accelerated. Investment in electrochemical energy storage has grown rapidly in six provinces (autonomous regions and municipalities) including Xinjiang, Gansu, Hunan, Shandong, Chongqing and Guangdong. A number of green power and hydrogen production projects are progressing in an orderly manner in Inner Mongolia and Xinjiang.

  Zhang Xing, spokesperson of the National Energy Administration, said at the press conference that the National Energy Administration will actively promote the construction of key energy projects across the country in 2023. Overall, the growth rate of national energy investment will remain at a high level.

  New energy storage works in multiple application scenarios

  Bian Guangqi, deputy director of the Department of Energy Conservation and Science and Technology Equipment of the National Energy Administration, said that as of the end of 2023, the cumulative installed capacity of new energy storage projects that had been completed and put into operation across the country reached 31.39 million kilowatts/66.87 million kilowatt hours, with an average energy storage time of 2.1 hours. From the perspective of investment scale, since the "14th Five-Year Plan", new new energy storage installed capacity has directly promoted economic investment of more than 100 billion yuan, driving the further expansion of the upstream and downstream of the industrial chain and becoming a "new driving force" for my country's economic development.

  Bian Guangqi said that from a technical perspective, new energy storage technologies are constantly emerging, and lithium-ion battery energy storage still dominates. Technologies such as compressed air energy storage, flow battery energy storage, and flywheel energy storage are developing rapidly. Since 2023, construction has started on multiple 300-MW compressed air energy storage projects, 100-MW flow battery energy storage projects, and MW flywheel energy storage projects, including gravity energy storage, liquid air energy storage, carbon dioxide energy storage, etc. The implementation of new technologies has generally shown a diversified development trend.

  "New energy storage is effective in multiple application scenarios and strongly supports the construction of new power systems." Bian Guangqi said, first, to promote the development and consumption of new energy. By the end of 2023, the installed capacity of new energy energy storage will be approximately 12.36 million kilowatts, mainly Distributed in Inner Mongolia, Xinjiang, Gansu and other provinces and regions where new energy development is rapid. The second is to improve the level of safe and stable operation of the system. The installed capacity of independent energy storage and shared energy storage has reached 15.39 million kilowatts, and the proportion is on the rise. It is mainly distributed in Shandong, Hunan, Ningxia and other provinces with greater system adjustment needs. The third is to serve users with flexible and efficient energy use. Energy storage for industrial and commercial users in Guangdong, Zhejiang and other provinces has developed rapidly.

  Promote the construction of a national unified electricity market system

  In 2022, the National Development and Reform Commission and the National Energy Administration issued a document to accelerate the construction of a national unified electricity market system. What is the current status of construction? How to proceed next?

  Liu Gang, deputy director of the Market Supervision Department of the National Energy Administration, said: "We have actively promoted the construction of a national unified electricity market system and achieved positive results."

  Market-based transaction volume continues to rise. From January to December 2023, the national electricity market traded 5.7 trillion kilowatt-hours of electricity, a year-on-year increase of 7.9%, accounting for 61.4% of the total social electricity consumption, an increase of 0.6 percentage points over the previous year. The number of entities registered in trading institutions reached 708,000, effectively stimulating market vitality. The power market reform continues to deepen, and the proportion of market-based traded electricity has increased from less than 17% in 2016 to more than 61% in 2023.

  The multi-level electricity market system operates effectively. Medium- and long-term electricity transactions have been operating regularly across the country, with trading cycles covering multiple years to multiple days. Medium- and long-term trading electricity accounts for more than 90% of market-based electricity, giving full play to the role of "ballast stone" and stabilizing the overall market size and transactions. price. The inter-provincial and inter-regional medium and long-term markets operate smoothly, and the inter-provincial spot market adjusts excess and shortfalls, playing a positive role in optimizing the allocation of large-scale power resources and ensuring mutual assistance and supply.

  The electricity market mechanism plays an active role in ensuring supply and promoting transformation. During the critical period of ensuring power supply during peak summer and winter peaks, the inter-provincial and cross-regional market-based trading mechanism played a positive role in inter-provincial power support and mutual assistance to ensure supply. New energy has gradually entered the power market, with market-based trading of 684.5 billion kilowatt-hours of electricity, accounting for 47.3% of the total new energy power generation.

  Liu Gang said that in 2024, we will coordinate the construction of the power market, improve the power auxiliary service market system, further promote the construction of the provincial power market, steadily promote the construction of the regional power market, strengthen the supervision of the power market, and maintain the market order of fair competition. (People's Daily Overseas Edition)