On 23 March 2022, China’s National Development and Reform Committee and National Energy Administration released a plan on the development of hydrogen energy for 2021-20351 (“Plan”). As the first national-level industry plan for hydrogen development, the Plan recognizes hydrogen as a major component of China’s future national energy system, an important carrier for realizing green- and low-carbon transition to the net-zero economy, and a key direction of China’s strategic emerging industries.

As the penetration of renewable energy increases, maintaining grid reliability becomes ever more challenging and costly. This Baker McKenzie report highlights key opportunities and challenges for the energy storage sector both from a global perspective and from the perspective of several key jurisdictions, and the significance of its role in enabling the energy transition.