中国储能产能过剩风险升高 未开工项目暂缓推进

中国储能行业在快速扩张后面临产能过剩压力。1截至2026年6月底，中国新型储能累计装机容量达168.3GW，储电量达448.7GWh，较2025年底增长15%。1然而，今年上半年新增投产装机容量为21.81GW，功率规模和储电量规模分别同比下降18%和16%。1

产能过剩的风险在电池芯领域尤为突出。1今年中国储能电池芯规划新增产能已超过800GWh，预计年底建成产能约达1.2至1.5TWh，整体规划产能超过2TWh。1远景高级副总裁田庆军指出，这已经远远超越了全球市场的真实需求。1为应对这一局面，中国当局对尚处规划阶段、未正式开工的储能项目暂缓推进，但已备案且在建的项目不受影响。1

China's energy storage industry is confronting a significant overcapacity challenge following rapid expansion, prompting authorities to suspend new projects that have not yet begun construction 1. As of June 2026, cumulative installed capacity of new-type energy storage reached 168.3 gigawatts, with stored energy totaling 448.7 gigawatt-hours, representing a 15 percent increase from the end of 2025 1.

The sector's growth has slowed markedly in recent months. During the first half of this year, newly commissioned energy storage capacity increased by 21.81 gigawatts in power scale, down 18 percent year-over-year, while stored energy capacity declined 16 percent on an annual basis 1. The bottleneck reflects a fundamental supply-demand imbalance: planned production capacity for energy storage battery cells has already exceeded 800 gigawatt-hours this year, with full-year capacity expected to reach between 1.2 and 1.5 terawatt-hours by year-end, pushing total planned capacity beyond 2 terawatt-hours 1. According to Envisioning Senior Vice President Tian Qingjun, "this has vastly exceeded the true global market demand" 1.

In response, Chinese authorities have moved to restrain sector expansion by pausing projects still in the planning phase that have not formally commenced construction 1. However, approved projects already under development remain unaffected by the regulatory intervention 1.