By Tsvetana Paraskova of OilPrice.com
China has paused approvals for new battery storage factories amid a review of existing and planned capacity, Chinese financial news outlet Cailianshe reported this weekend, citing industry sources.
The temporary suspension of approvals of plants that have not started construction yet comes amid growing concerns about overcapacity in the sector in the world’s biggest manufacturer of batteries for energy storage.
China is the world’s biggest market for electric vehicles and a top player in battery storage as well. But just like electric vehicles (EVs) and solar panels, these energy transition-linked industries have enjoyed years of generous subsidies that have allowed them to grow without any consideration of overcapacity and its consequences. The Chinese government has already had to clamp down on EVs and solar panels, and now, it seems, it’s the turn of batteries.
In addition, Chinese solar equipment manufacturers READ MORE AT SOURCE »
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