1. Australia
Australia's power market volatility and the frequency of negative tariffs for energy storage create good conditions for profitability. Under the background of accelerated energy transition, Australia's short-term energy storage demand within 4 hours is over and the 2Q23-1Q24 Australian energy storage power plant project investment for four consecutive quarters of was more than AU$ 1 billion.
According to the data of Australian transmission operators, the scale of expected and planned energy storage projects is close to 80GW. Among them, the scale of large storage projects planned to start commercial operation in 2025 and 2026 is 4GW/8GWh and 6GW/15GWh respectively, which is a huge volume of energy storage demand.
2.Middle east
Saudi Arabia: "2030 vision" released four 100% renewable energy projects. This part of the project has reached 2.7GWh of energy storage demand for the preliminary project, and the subsequent project is expected to promote the demand for tens of GWh energy storage needs to be tendered. 2023 Saudi Arabia announced that renewable energy bidding each year thereafter will be 20GW. Grid expansion for a short time can not be Landing in the background of the network side of the large storage demand outbreak, thus the Ministry of Energy developed a 2024-2025 24GWh energy storage system bidding program, of which 10GWh is expected to start in the second half of 2024.
Israel: Affected by geopolitical factors, Israel and neighboring countries basically have no grid interconnection, and the stability of the power grid is affected in the context of the increase in the proportion of photovoltaic installed capacity. Israel government has launched multiple rounds of energy storage tenders since 2020, with a total scale of about 6.3GWh.
3.Latin America
Chile: After large-scale new wind and solar installations in 2021-2022, renewable energy curtailment increased rapidly, and the renewable energy curtailment rate reached 13.7% from January to May 2024. In order to alleviate the pressure of curtailment of electricity Chile demand for large storage, as of May 2024, 1.2GW of energy storage projects are under construction in Chile, and the reserve project is close to 10GW. In 2024, the DS70 bill will be passed in Chile. The profit model of energy storage power station projects will be determined, and the energy storage capacity coefficient of the bill will be significantly better than that of mature large storage countries such as United Kingdom, and the implementation will be valid for 10 years, which is expected to stimulate the accelerated release of demand.
Brazil: With the rapid growth of wind and solar installed capacity in Brazil, the urgency of energy storage demand is gradually increasing, and the National Electricity Administration has held several seminars in the past two years to study the current situation and supervision of energy storage. The August reserve capacity auction may be considered for inclusion in energy storage projects, and the relevant revenue guidance document is expected to be launched before the end of the year.
4. India
As of March 2024, India's renewable energy accounts for 28.9% of India's electricity capacity, and the rapid growth of renewable energy installations poses a major challenge to grid stability, with the Central Electricity Authority of India forecasting 8.7GW/34.7GWh of battery storage demand by 2026-2027, but only 0.2GWh of battery energy storage capacity in India as of March 2024.
To stimulate the development of battery energy storage, the India government issued an energy storage development framework, launching a 4GW project subsidy program, and multiple rounds of large-scale energy storage project tenders through state-owned enterprises. Judging from the bidding results of India's state-owned enterprise photovoltaic storage project in July, the hybrid electricity price of photovoltaic storage is close to achieving thermal power parity. The demand for energy storage in India is about to explode under the background of the rapid increase in the proportion of new energy.
Source: https://mp.weixin.qq.com/s/ypDF3VwX99c-GW6rbIKdbA
