According to data from the GGII (Green Globe International, Inc.) Energy Storage Industry Database, China saw 45 energy storage project EPC (Engineering, Procurement, Construction) or system awards announced in May 2026, with a total awarded capacity of approximately 25.85 GWh. This represents a year-on-year increase of 53%. The cumulative awarded capacity for the first five months of the year reached 160.14 GWh, marking a 26% increase compared to the same period last year.

The May awards comprised 45 EPC projects and 9 system procurement projects.

Pricing Trends for EPC Projects

For EPC projects, the awarded price per watt-hour ranged from 0.673 yuan/Wh to 1.392 yuan/Wh. The average price was 1.010 yuan/Wh, reflecting a 5% decrease from the previous month. The lowest winning bid of 0.673 yuan/Wh came from the Mianyang Youxian District Gangqi 300MW|600MWh Electrochemical Energy Storage Power Station (Phase II) project, submitted by Sichuan Electric Power Design & Consulting Co., Ltd. The highest winning bid of 1.392 yuan/Wh was for the Hejin City Yuancun 320MW/640MWh Grid-Forming New Energy Storage Project, quoted by PowerChina Shandong Electric Power Construction Co., Ltd.

Pricing Trends for System Procurement

For energy storage system procurements, the awarded price per watt-hour ranged from 0.414 yuan/Wh to 0.782 yuan/Wh. The average price was 0.607 yuan/Wh, showing an 18% increase compared to the prior month. The lowest winning bid of 0.414 yuan/Wh came from the CECEP Gansu Mazongshan 300MW/1200MWh Independent Energy Storage Project (Phase I), quoted by CRRC Zhuzhou Electric Locomotive Research Institute Co., Ltd. The highest winning bid of 0.782 yuan/Wh was for the EYTN Yingjisha County 300,000 kW/1.2 million kWh Grid-Forming Independent Energy Storage Project, submitted by Yunnan Haifengyuan Engineering Construction Co., Ltd.

Analysis of System Project Awards

Focusing on system project awards, the total capacity opened for bidding in May was 8.5 GWh. The largest single project by share was the China Huaneng Group Co., Ltd. 2026 Energy Storage System Framework Agreement Procurement. This tender involved a total of 4 GWh, divided into three lots. It attracted bids from 48 companies, with 10 firms ultimately shortlisted. The bidding price range for this project was between 0.5132 yuan/Wh and 0.6017 yuan/Wh.