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Electric Vehicles

China Wants the Market to Help Speed Battery Storage Build-Out

Authorities to let independent energy companies make money by buying and selling electricity.

Tianneng Battery Group Co.'s Showroom
Photographer: Qilai Shen/Bloomberg

China is crafting rules to attract more energy storage investment in order to accelerate a build-out needed to eliminate carbon emissions from its power sector.

The nation’s top economic planner and energy agency will let new energy storage facilities, which mostly rely on batteries, make money from buying and selling electricity, they said in a joint statement posted online this week. They also want regional authorities to create price mechanisms that entice power companies to participate in the market.