China will implement a major new power market reform next month, introducing Contracts for Difference (CfDs) and an ancillary services market which will greatly increase the revenue of battery energy projects. Renewable additions will slow down compared to the immense boom of the past two years, but the battery energy storage industry needed this - it needs to switch to organic market-driven growth, rather than an unsustainable co-location requirement based paradigm which resulted in poor-quality installations and a 50% utilization rate.

The biggest consequence for the rest of the world will simply be that China's power prices are not significantly shifting as it shifts from coal plus hydro, over to new energy. China's competitive advantage is going nowhere.