With the proposal of carbon neutrality goals, the strategic position of renewable energy represented by photovoltaics has become prominent. Driven by the double stimulus of policy promotion and demand improvement, the energy storage industry, as the key to supporting the development of renewable energy, has finally ushered in a historic breakthrough. Advanced moment. Thanks to the vigorous promotion of a number of policies, China's energy storage has developed rapidly and its installed capacity has increased rapidly, making it an important part of the global energy storage market. On November 8, 2022, the China Electricity Council issued a report stating that by 2021, China's installed capacity of energy storage will reach 42.66GW.

In 2021, China's installed capacity of electrochemical energy storage will reach 2.18GW/4.81GWh, with a growth rate of 85%/180%. In 2022, China's new installed capacity is expected to reach 6.83GW/14.92GWh, with a growth rate of 214%/210%, a year-on-year increase of more than two times. In 2022, even after experiencing repeated epidemics and rising raw material prices, China's energy storage market still shows a momentum of rapid growth.

In 2021, the installed capacity of electrochemical energy storage in the United States will reach 3.56GW/10.62GWh, with a growth rate of 144%/198%. In 2022, the newly installed capacity in the United States is expected to reach 4.99GW/13.58GWh, with a growth rate of 40%/28%. In 2022, the new installed capacity of photovoltaics in the United States will slow down, but energy storage will still maintain rapid growth; in 2023, with the improvement of photovoltaic installed capacity and the implementation of ITC tax credits, energy storage installed capacity will continue to increase rapidly.

Under the European energy crisis, the rigid demand for solar storage is clear, and the high economy of household storage has led to explosive growth in demand. According to TrendForce data, in 2021, the installed capacity of electrochemical energy storage in Europe will reach 2.86GW/4.3GWh, with a growth rate of 114%/106%; in 2022, the newly installed capacity in Europe is expected to reach 5.44GW/8.14GWh, with a growth rate of 90% /89%.

Energy storage is a rigid demand, and the long-term development space is fully open

Recently, China's energy storage-related policies have been issued frequently, and various regions continue to accelerate the development of new energy storage. As more and more energy storage power stations are connected to the grid and put into operation, the domestic power market is also accelerating. At present, the economics of industrial and commercial energy storage are improving due to policy-driven superimposed technology cost reduction, and the profit model will be accelerated. Under the background of the recent intensive policy introduction, industrial and commercial energy storage has achieved real progress from 0 to 1.

China's installed capacity target: At present, according to the statistics of new energy storage installed capacity in various places during the 14th Five-Year Plan, by 2025, China's cumulative installed capacity of new energy storage will reach 66.8GW. From the perspective of demand, since the end of last year, the price of upstream raw materials has gone down significantly, which may promote the increase of project yield and fully stimulate the demand for terminal installed capacity. The scale of energy storage installed capacity in my country is expected to further achieve substantial growth on the basis of 2022. With the gradual improvement of the market mechanism and the advancement of pilot projects in the early stage, China's energy storage market will gradually move from exploration to maturity.

U.S. installed capacity target: According to the energy storage research report released by the U.S. Department of Energy and the U.S. National Renewable Energy Laboratory, in order to achieve the goal of carbon-free electricity in 2035, when clean energy such as photovoltaics and wind energy account for 60% of total power generation- At 80%, corresponding energy storage needs to be equipped to support a higher proportion of renewable energy grid-connected power generation. In the neutral scenario, the cumulative installed capacity of electrochemical energy storage in the United States will reach 190GW/1043.7GWh by 2050. With the high growth of renewable energy such as wind and solar, and the increase in the proportion of superimposed storage, the installed capacity of energy storage in the United States is expected to achieve rapid growth. The medium and long-term goals of renewable energy power generation and energy storage installations in the United States will guarantee the scale of medium and long-term energy storage installations.

European installed capacity target: Europe is a pioneer in energy transformation and took the lead in proposing the 2050 carbon neutrality goal. The imperative energy transformation stimulates the rapid growth of local energy storage demand. As early as last year, the European Energy Storage Association published a research report entitled "Energy Storage Targets 2030 and 2050", which mentioned that based on the latest climate goals, by 2030, Europe needs to deploy 67GW of battery energy storage to ensure European energy storage. economic security.Editor/XingWentao