PVTIME – The global energy storage industry maintained robust growth throughout 2026, driven by the accelerated commercialisation of large-scale projects and the expansion of cross-border deployment. Between April and May 2026, the sector experienced significant market expansion, with 257.5GWh of new energy storage capacity being signed worldwide. Chinese enterprises dominated this growth phase, securing over 177.5GWh of the total contracted volume and thus consolidating their leading position within the global renewable energy landscape. Building on a strong start, China’s energy storage market achieved over 200GWh of signed capacity in the first quarter of 2026. Consecutive high-volume order growth across Q1 and the April–May period demonstrates the industry’s rapid expansion, technological development and ongoing globalisation.
Market activity in April and May fundamentally transformed the operational landscape of energy storage, with GWh-scale projects replacing previously fragmented, small-capacity deployments as the new industry benchmark. Core technical solutions, including sodium-ion battery systems, high-power liquid-cooled storage platforms, and intelligent, fully integrated production lines, have achieved widespread commercial adoption. Chinese manufacturers are leading global market competition thanks to their integrated strengths in technology, cost control and supply chain reliability. Overseas demand is primarily driven by grid modernisation targets, improved policies for utilising renewable energy and national energy independence strategies. The complementary growth of the Chinese and international markets continues to strengthen the global competitiveness of China’s energy storage industry.
Key Energy Storage Contracts Secured by Chinese Enterprises
Between April and May 2026, Chinese energy storage firms secured substantial project wins, covering grid-side peak regulation, renewable energy matching systems, commercial and industrial energy management, and cross-border equipment and system exports. Leading cell manufacturers and system integrators have secured long-term, high-capacity orders, and the rapid commercialisation of emerging storage technologies is steering the industry towards technology-driven, high-quality development.
On 27 April 2026, CATL signed a three-year sodium-ion energy storage supply framework agreement with HyperStrong, covering a total contracted capacity of 60GWh. This deal is the world’s largest long-term sodium-ion storage contract to date. Sodium-ion technology mitigates the volatility of the price of lithium raw materials, delivering safe, cost-efficient performance that is ideal for large-scale grid-side storage applications. The project will reduce full-lifecycle carbon dioxide emissions by over 1.2 million tonnes. It will also support capacity expansion at CATL’s Fujian and Sichuan production bases, creating over 2,000 industrial jobs and generating more than RMB 5 billion in upstream and downstream revenue. This will accelerate the commercial maturity of sodium-ion energy storage technology.
On 3 April 2026, EVE Energy secured over 50GWh of strategic orders at the ESIE 2026 Beijing Exhibition. The company partnered with five well-established industry leaders: Goldwind Zero Carbon, Jinko, Linyang Energy, CEEC, and Ronghe Yuancu. The project portfolio supports wind-solar matching storage, grid peak shaving, and industrial energy efficiency optimisation. Once operational, it will cut annual carbon emissions by over 800,000 tonnes, enhancing regional new energy consumption and grid stability. These orders will enable EVE Energy’s Huizhou and Jingmen manufacturing bases to operate at full capacity, creating over 1,500 jobs and generating an annual output value of RMB 12 billion. This will further strengthen the company’s global standing in energy storage battery manufacturing.
The ESIE 2026 Beijing Exhibition, which concluded on 9 April, served as a key industry cooperation platform. Key participants, including Trina Solar, BYD, Sungrow, Hithium, REPT BATTERO and Gotion High-Tech, finalised extensive strategic cooperation agreements, with a total signed order volume of over 127GWh, more than 30% of which is destined for overseas markets.
On 12 May 2026, EVE Energy further expanded its global footprint by signing a formal cooperation deal with India’s leading renewable energy developer, Godawari New Energy. The agreement includes an immediate order for 8GWh of energy storage and a five-year strategic roadmap targeting 60GWh of cumulative installed capacity. This ranks among the largest single energy storage cooperation projects in India’s market history. The project aligns with India’s 2030 target of installing 500GW of renewable energy, delivering annual carbon reductions of over 150,000 tonnes. It also supports the local adoption of Chinese energy storage technologies and standards, creating over 500 jobs in the region.
The following day, 13 May 2026, CORNEX New Energy secured a total of 50GWh in high-value energy storage contracts at the 2026 CIBF Shenzhen Exhibition. The company collaborated with CRRC Zhuzhou Institute, Clou Electronics, Wolong Energy Storage, Kebo Energy and Growatt, with order volumes of 25GWh, 10GWh and 5GWh respectively from the latter three partners. These projects address demands for grid upgrading and renewable energy integration across central China, facilitating the formation of clustered energy storage industrial bases in Wuhan and Yichang. This collaboration will drive regional industrial output beyond RMB 10 billion, create over 1,200 jobs in the industry and deliver annual carbon savings of over 700,000 tonnes, effectively activating central China’s energy storage market.
A series of regional grid-side storage projects progressed steadily throughout the period. In early May, YunChu New Energy won bids for two energy storage projects in Wuzhong and Yinchuan with a combined capacity of 300MW/1.2GWh, representing a total investment exceeding RMB 4 billion. These projects will mitigate wind and solar curtailment in north-west China, raising local renewable energy consumption rates above 95%, cutting annual carbon emissions by 100,000 tonnes, and providing over 150 jobs during construction and operation. On 8 May, Zhonghong Puneng and Huanghe Energy partnered with the Shangnan County Government in Shaanxi to develop a 600MW/1.2GWh grid-side storage project, requiring an investment of RMB 3.5 billion. The facility will generate 480 million kWh of electricity annually, optimise regional grid infrastructure, improve power supply reliability, boost local fiscal revenue, and reduce annual carbon emissions by over 80,000 tonnes.
Meanwhile, cross-border exports of high-end energy storage manufacturing equipment continued to grow steadily. On 20 April 2026, LuLiu Intelligent Equipment signed a turnkey factory construction agreement with a major Turkish client to deliver a fully automated 10GWh energy storage PACK production line for installation in Ankara, with an export value of over RMB 800 million for the equipment. This project represents a significant advancement in China’s overseas energy storage business model, shifting the focus from the export of individual products to the export of comprehensive technical solutions, complete equipment, and manufacturing systems. It will support the development of local energy storage manufacturing capacity in Turkey, reduce local annual carbon emissions by over 50,000 tonnes, and create more than 300 high-end domestic manufacturing jobs.
On 21 May 2026, Sungrow secured a significant overseas project in cooperation with Masdar, a leading UAE renewable energy company. Sungrow will supply 7.5GWh of advanced liquid-cooled energy storage systems and supporting PV inverters for the RTC 1 Plant (North) development. As one of the world’s first GW-scale, all-weather, renewable energy storage projects, the customised liquid-cooled system can operate in extreme high temperatures across the Middle East. This deployment will ensure stable local renewable energy utilisation and set a benchmark for Chinese enterprises looking to expand into high-value Middle Eastern energy storage markets.
International Energy Storage Projects
Non-Chinese energy storage markets experienced robust growth in April and May 2026. This was driven by grid modernisation policies, national energy independence frameworks, and the continuous expansion of renewable energy capacity. Significant project signings and deployments took place across Europe, the Middle East and the Balkans. Collaboration between local and international energy storage operators and Chinese suppliers has driven consistent growth in global installed storage capacity, reshaping regional energy transition landscapes in the process.
Europe’s energy storage market remained highly active during the review period. On 11 May 2026, the leading German renewable energy company BayWa r.e. partnered with the European infrastructure fund Scale Fund to secure an eight-year operation and maintenance contract for the Alfeld battery energy storage station. With a capacity of 400MW/1,600MWh, the facility is Germany’s largest operational battery energy storage system. The project will stabilise intermittent wind and solar power output, reduce reliance on thermal power standby capacity, and deliver annual carbon reductions of over 300,000 tonnes. It also promotes standardisation and specialisation within Europe’s energy storage service sector, creating over 100 technical and operational roles.
On 8 May 2026, UK energy storage developer Elements Green completed the acquisition and deployment of the 300MW Newarthill energy storage project in Scotland. The project delivers an effective storage capacity of 1,200MWh. As a core supporting asset for Scottish renewable energy development, the project enhances the efficiency with which regional wind power is consumed and safeguards the stability of the power supply for major urban areas in the south of the UK. The project achieves annual carbon savings of over 60,000 tonnes and has generated more than 250 temporary and permanent jobs throughout the construction and operational phases, thereby supporting the delivery of the UK’s national carbon neutrality targets.
The Balkan energy storage market achieved significant commercial progress during this period. On 11 May 2026, Japanese energy storage technology provider PowerX entered into a three-year strategic partnership with Montenegro’s state-owned utility company, EPCG, to deliver a 500MWh battery energy storage system project. As one of the first large-scale commercial storage deployments in the Balkans, the project addresses local grid peak regulation shortages and reduces national dependence on fossil fuel imports. It delivers annual carbon reductions of around 10,000 tonnes, stimulates new energy investment and local employment, and marks the formal launch of commercial energy storage infrastructure development across Southeast Europe.
Industrial Value and Comprehensive Benefits
The intensive global deployment of energy storage projects in April and May 2026 has driven substantial industrial expansion, unlocking sustainable environmental, economic and social value in the process. Energy storage infrastructure has become a key enabler of the global transition to green energy and industrial restructuring.
Energy storage systems generate tangible environmental benefits by facilitating grid peak regulation, replacing thermal power generation and enhancing renewable energy absorption rates. Industry-standard calculations indicate that 1 GWh of operational storage capacity reduces annual carbon emissions by 13,000 tonnes. The 257.5GWh of newly signed global capacity during the review period delivers total annual carbon reductions of over 3.34 million tonnes. CATL’s 60GWh sodium-ion project demonstrates exceptional full-lifecycle low-carbon performance, setting new industry standards for the application of eco-friendly storage technology and accelerating the decarbonisation of the global energy structure.
The energy storage industry operates a fully integrated industrial ecosystem. Each 1GWh of capacity drives over RMB 300 million of investment in the upstream and downstream sectors. The 177.5GWh of capacity secured by Chinese enterprises has stimulated over RMB 53.2 billion of industrial investment and RMB 42 billion of annual output value. Overseas orders totalling over 80GWh have mobilised an additional RMB 24 billion in global green investment, supporting sustainable economic growth internationally. Widespread project deployment optimises regional industrial structures and expands green tax revenue streams, thus establishing energy storage as a key driver of global sustainable development.
The energy storage sector combines technological innovation and advanced manufacturing, offering higher remuneration levels than traditional industries. Industry data indicates that each 1GWh of storage capacity generates 30–50 jobs during the construction phase and 5–10 long-term operational positions. Recent project signings have generated over 15,000 direct jobs and more than 50,000 indirect roles in areas such as material supply, logistics, equipment manufacturing, and operational services. Industrial development optimises global employment structures, strengthens energy independence for participating economies, and promotes the balanced upgrading of global energy systems.
Competition in the global energy storage market has evolved beyond price-driven rivalry to prioritise technological capability, brand influence, service quality, and global deployment expertise. Chinese enterprises account for over 40% of the newly signed global storage capacity, thanks to their comprehensive industrial chain resources, diverse technical reserves and mature project delivery experience. Their leading advantages in large-capacity lithium batteries, sodium-ion technology, liquid-cooled system integration and full-set equipment exports enable them to offer end-to-end global business coverage. This covers everything from cell production and system integration to production line exports and after-sales services. This shapes global supply chain standards and market dynamics.
Industry Summary and Forward Outlook
Strong contractual performance in Q1 and sustained global project growth in April and May mark 2026 as a pivotal year for rapid expansion, technological iteration and globalisation within the energy storage industry. Chinese industrial players continue to deliver large-scale capacity deployments and accelerate the commercialisation of innovative storage technologies. Rising global demand for renewable energy is prompting Chinese enterprises to upgrade their overseas strategies, shifting their focus from basic product exports to the integrated export of technology, standards, and professional services. Key growth catalysts include CATL’s landmark long-term sodium-ion order, EVE Energy’s expansion in both domestic and overseas markets, CORNEX’s development of a regional industrial cluster and Sungrow’s success in high-end international markets.
Three definitive trends will shape the future global energy storage landscape. Firstly, technological diversification will continue to advance, with sodium-ion batteries, large-capacity lithium cells and high-efficiency liquid-cooled systems achieving continuous cost reduction and performance optimisation to increase the penetration of innovative technologies. Second, global market coverage will broaden further, with sustained demand from emerging markets in South Asia, the Middle East, Europe and Southeast Asia consolidating the global market share of Chinese enterprises. Thirdly, energy storage functionality will evolve beyond traditional peak regulation to develop into integrated platforms for carbon asset management, comprehensive energy services and intelligent energy data operation. The global energy storage sector retains strong long-term growth potential, with Chinese industry leaders set to continue driving the worldwide transformation to green energy and industrial expansion.
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