Top Solar Province Boosts Payments for Battery Storage

(Bloomberg) — China’s top province for solar power will increase payments for battery storage plants to encourage investment in the technology to provide clean electricity around the clock.

Eastern China’s Shandong province, which has more solar panels than France and Spain combined, will start giving battery storage systems so-called capacity payments for being available to help balance the grid, on top of the rates they receive for selling power, according to a policy paper published Monday by the local government. Shandong wants to boost its storage ratio to 30% of its solar capacity from the current 7%.