18 November 2024:

The Asia Pacific region is rapidly positioning itself as the world’s largest market for flow batteries, driven by progressive energy storage policies, as highlighted in FBE’s new publication Reports on Regions – Asia Pacific.

The report provides a comprehensive analysis of the Asia Pacific energy storage and flow battery policy landscape, examining key countries like China, Japan, Australia, and South Korea. These countries are setting the pace in long-duration energy storage (LDES), supported by ambitious targets and robust policy frameworks. 

China’s energy storage policy exemplifies this progress, with large-scale flow battery projects and enhanced conditions under the14^th Five-Year Plan for Energy Storage. Japan and Australia are similarly advancing with policies promoting innovative storage technologies and substantial public investment. South Korea is pushing forward with advanced ESS deployments and demonstrations. 

This rapid growth stands in contrast to Europe’s energy storage sector. The report stresses the need for Europe to adopt similarly ambitious policies and investment strategies to remain competitive. By adopting a sustained energy storage strategy, which includes diverse technologies, a resilient supply chain, and enhanced subsidy and investment schemes for LDES, Europe can secure its role in the global clean energy transition.