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standard energy storageReuters
•79% Informative
Investment in grid-connected batteries in China surged 364% last year to 75 billion yuan ( $11 billion ), according to Carbon Brief .
China set a new target of at least 40GW of battery storage installed by the end of 2025 , up 33% from the previous goal.
Falling battery prices are improving the economics of storage in China , with costs for batteries used in standard energy storage down by about a fifth .
Emerging technologies such as thermal energy storage, redox flow batteries, and sodium ion batteries have shown promise for longer-duration storage but have higher up-front costs, with technology and supply chains that are less mature. China is hedging its bets by increasing its pipeline of pumped hydro projects - which can take five to seven years to build - and encouraging demonstration projects in emerging technologies. (Reporting by Colleen Howe , additional reporting by Zhang Yan ; Editing by Lincoln Feast .).
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