Featured in Material change – 03-2024

China owns the battery market

What happened in solar is also happening in energy storage. Sam Adham and Aaron Wade, from business intelligence provider CRU, report on the trend of Chinese companies successfully commodifying lithium ferro-phosphate (LFP) batteries, which are the predominant type used in energy storage systems.

By

pv magazine

11 Mar 2024

Global lithium ion battery production reached the 1 TWh milestone in 2023 – and exceeded actual demand by 65 GWh. Much of this overproduction was in the form of LFP batteries from China.A dramatic influx of investment has led to an increasingly crowded LFP sector in China. The market today can be characterized as an …

This article is part of pv+

Subscribe digitally to unlock exclusive investigative reporting, expert insights, in-depth analysis, and premium background coverage. Your subscription also includes full access to the digital edition of our magazine.