In the context of global energy transformation and upgrading, energy storage, as a system that can effectively ensure the stable operation of the power grid, has entered a period of rapid explosion. At present, Chinese enterprises have realized the vastness of the energy storage track. According to statistics, over 38000 energy storage related enterprises were established in 2022, which is 10 times more than the number of newly established energy storage enterprises in 2020.
Current status of energy storage development: Rapid development of new energy storage
Simply put, an energy storage facility is a large battery that achieves its economic value through charging and discharging cycles.
In the segmented energy storage market, new energy storage solutions represented by lithium-ion batteries, lead-acid batteries, and compressed air have emerged in recent years, and new energy storage solutions such as flow batteries and molten salt heat storage have also begun to emerge.
The 2023 White Paper on Energy Storage Industry Research predicts that under conservative scenarios, the cumulative scale of new energy storage in China is expected to reach 97.0 GW by 2027, with a compound annual growth rate (CAGR) of 49.3% from 2023 to 2027. According to the Energy Storage Application Branch of the China Physical and Chemical Power Industry Association, the scale of the new energy storage industry is expected to exceed one trillion yuan by 2025 and approach three trillion yuan by 2030.
Policy stimulus: Energy storage market achieves explosive growth
China's energy storage industry started relatively late. In recent years, with strong policy support, the positioning, goals, and tasks of energy storage in the new generation energy system have gradually become clear, entering a period of rapid development.
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