are you talking about using the storage system for heating or electricity generation? For heating, there are plenty of rooftop water heaters in China.
Again, you have to compare apple with apples. TES for heating or TES for electricity generation?
A single TES system can be used for both depending on the setup. And of course I'm talking about large industrial scale GWH scale storage systems, not rooftop water heaters.
What is the efficiency of the storage systems that are used for electricity generation?
It highly depends on the system in question of course. TES is such a wide range of various different systems that you might as ask the effectiveness of chemical batteries: which can range anywhere from Li-ion, lead acid or salt water batteries. I already gave you the source of 50-90%, that purely for electrical conversion, if it's just for heat generation, it's something like 80-95% round trip efficiency, again depending on the system.
Of course the TES can have much greater efficiency since they don't always require electricity to store heat, they can be used in conjuration with industrial process that already generate waste heat and have to get rid of large amounts of waste heat and thus act as a heat sink and get free heat in the process.
Heat pumps are 300% efficient because of this, they are just moving heat around, not generating it directly. If you want to be technical, TES can be >100% efficient because they don't need to use anything to generate their heat, they can just be used as a heat sink for a some industrial process that generates a lot of waste heat, and without said TES the industrial process would have used some other method of cooling that didn't generate any power at all. In fact, most of this cooling methods involves using electricity
And again, for industrial process that need heat, a TES basically saves you electricity/fossil fuels since they can generate heat directly, while a battery system has to use the electricity to generate heat, which generates some power loss in the process, which is never factored into the efficiency process.
If you want to focus on efficiency so much I guess green hydrogen- efficiency 30-40%, pumped hydro- efficiency 70-85%, compressed air- 60-70%, flow batteries-60-85% are all useless and we should use lithium ion for every grid scale energy storage solution. Let us ignore costs, material viability, energy density, max discharge cycles, other uses than producing electricity.
If China is producing a ridiculous amount of excess renewable energy as will be often the case, even a energy storage system with efficiency of 10% is worth it, if the cost of making and setting up the system is cheap enough, as well as the other factors like max discharge cycles, energy density etc etc.