1.The installed capacity of energy storage has reached a new high
In terms of installed capacity, China's energy storage market has reached a new high in the first half of 24, with a total installed capacity of 14.40GW/35. 39GWh, which has reached 69% of the annual installed capacity in 23 years.
Among them, the proportion of grid-side energy storage is the highest, mainly independent energy storage power stations. The total number of microgrid projects such as energy storage in the station area is low but the growth rate is high, and the total proportion of grid-side energy storage is 63.3%. The energy storage on the power side is the second, with wind and solar distribution and storage being the mainstay, accounting for 29.5% of the total. The user side is dominated by industrial and commercial energy storage, and the application of household storage in China has increased slightly, accounting for 7.1% of the total on the user side.
2.The degree of project fulfillment has increased rapidly
In the past year, a total of 81.4GWh of energy storage projects were tendered, and 66.2GWh of installed capacity was completed, with a high degree of overall project fulfillment, reaching 81.3%, an increase of 10.3% month-on-month.
In particular, a total of 6.98GW/15.5GWh of grid connection in a single month in June, a year-on-year increase of 86.5%, reaching a record high.
3. Energy storage technology flourishes
Non-lithium energy storage technologies have been more verified in projects that will be implemented in 2024, and energy storage technologies are blooming.
According to EESA statistics, thanks to the promotion of national policies and the maturity of related energy storage technologies, non-lithium energy storage technologies such as compressed air, all-vanadium flow batteries, sodium-ion batteries, and molten salt energy storage are in the stage of continuous implementation and verification, with a total of 817MW/3,929MWh.
4. The substitution of 314Ah battery cells is accelerated
According to EESA statistics, in the first half of 2024, the penetration rate of 314Ah cells in the energy storage (lithium-ion energy storage) projects on the source grid side has reached about 9.7%. From the market situation in the first half of the year, more and more owner groups have launched their procurement plans for 314Ah cells. It is expected that the replacement of energy storage cells 314Ah for 280Ah will be accelerated, and more large battery cell projects will be implemented before the end of the year in addition to 314Ah.
5. Industrial and commercial concentration becomes more dispersed
According to EESA statistics, the number of enterprises entering the industrial and commercial energy storage industry in the first half of 24 decreased slightly, but the scale of enterprises was relatively large. Most of these companies are leading enterprises in power, energy, energy conservation and environmental protection, etc.. These companies have a large number of high-quality industrial and commercial energy storage customer resources on the original track, and combine their own products to provide customers with more solutions such as optical storage, optical storage and charging, optical heat storage, energy consumption transformation, and zero-carbon parks.
In the first half of 2024, the CR5 of industrial and commercial energy storage was about 36%. As more and more enterprises entered the industrial and commercial energy storage track, we believe that the head of the industrial and commercial energy storage track is far from formed, and the concentration will be more dispersed by the end of the year.
6. The large storage integrated head gradually appears
According to EESA statistics, in the first half of 24, Chinese enterprises shipped a total of about 51.5GWh of energy storage systems, which has exceeded the total installed capacity in 2023.
However, with the slowdown in the growth of the energy storage market and the gradual improvement of industry standards and policy norms, the integration of energy storage systems has shown an obvious trend of head concentration, with CR6 accounting for 52% (26.8GWh).
7. It is estimated that the annual installed capacity will be 90GWh
According to the current stage of energy storage project bidding, project fulfillment, etc., and combined with the completion status of the national "14th Five-Year Plan" project, EESA expects that the installed capacity of energy storage will reach 90GWh in 2024, a year-on-year growth rate of 76%, and the global proportion will reach 50%, the same as in 23 years.
Source: EESA