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China’s New Visa-Free Entry Policy & Energy Storage Market Update

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Great news for business travelers to China! This Nov. 24th, China announced a 15-day visa-free policy for nationals from France, Germany, Italy, the Netherlands, Spain and Malaysia, starting on Dec. 1st, 2023 and ending on Nov. 30th, 2024. At present, citizens of over 150 countries are exempted from needing visas to visit China for business.

With China’s energy storage sector taking off, 2024 is the best time to explore the market!

Supportive Policies Rolled Out by All Levels of Government

As China steps up its national support for the energy storage industry, up to 30 provinces and municipalities have put forward their supportive programs adapting to the local markets.

As one of the wealthiest provinces, Guangdong inevitably leads the way. According to the 2023 guidelines released by Guangdong, the operating income of the province’s new energy storage industry will reach 600 billion yuan by 2025 and 1 trillion yuan by 2027, with installed capacity hitting 3 million kW in 2025 and 4 million kW in 2027.

Exponential Growth in Energy Storage Installed Capacity

Data show that in the first half of 2023, the number of new energy storage projects in operation nationwide totaled 850, more than double over the same period last year, and 6.9 GW of new energy storage was installed, taking the cumulative capacity to 20 GW.

It is estimated that wind and solar energy generation will account for 18% of China’s total power generation in 2025 and 30% in 2030 and the new demand for new energy storage will come in at 35GW by 2025, 60GW by 2030 and 200GW by 2050, bringing forth a market of over 2 trillion yuan

4000+ Energy Storage, Battery, Hydrogen Energy & Solar Exhibitors Under One Roof

Expected to host over 2000 exhibitors (including 600+ battery and energy storage companies) on a 165,000 sq.m show floor, WBE 2024 will highlight energy storage cells, large-scale storage, industrial and commercial storage, residential storage, outdoor portable energy storage, and solar-energy storage integration.

Co-located with the 2024 World Hydrogen & Energy Industry Expo (WHE) and the 2024 Solar PV World Expo, WBE 2024 will connect you with 4000 clean energy solution providers.

2024 World Battery & Energy Storage Industry Expo (WBE 2024)
Date: August 8th-10th, 2024
Venue: China Import and Export Fair Complex, Guangzhou, China
Website: https://en.battery-expo.com/

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