According to incomplete statistics from the CNESA global energy storage database, in the first half of 2024, Chinese energy storage companies signed orders of more than 80GWh (excluding bidding orders), of which overseas orders were exceed 50GWh.
According to CNESA, from the perspective of the types of enterprises currently active in the energy storage market, optical storage enterprises occupy an important position in the energy storage market with their strong technical advantages, resource advantages and market development advantages, especially in overseas markets. Judging from the energy storage order information disclosed by various companies in the first half of 2024, the energy storage order scale of battery companies and photovoltaic - energy storage enterprises accounts for more than 96%. Among them, battery companies have disclosed energy storage orders of more than 67GWh, and optical storage companies have disclosed energy storage orders of more than 14GWh. From the perspective of product type, in addition to providing battery cells, battery companies have extended their product range to system integration. It is a trend for batteries companies to do system integration. From the perspective of cost, batteries account for more than half of the cost of the entire energy storage system. From a technical point of view, battery companies better understand the characteristics of their battery products. From the perspective of the market, the domestic bidding market has begun to require system integration enterprises to have core technology self-research capabilities, including core equipment such as batteries, PCS, BMS, EMS, etc. In addition, energy storage battery companies have also begun to build factories overseas or establish joint ventures with local enterprises to achieve global operations.
The huge overseas market demand is one of the main reasons why China's energy storage companies are actively deploying overseas markets. According to TrendForce's official account, TrendForce expects to install 70GW/163GWh of global energy storage capacity in 2024, a year-on-year increase of 36%/43%. The energy capacity increased slightly faster than the power side due to the regional demand for long-term energy storage as the main installed type, and the global energy storage installed capacity in 2024 will still revolve around the three key regions of China, the United States and Europe, accounting for about 84%. On the continent, the price of energy storage systems in Asia is nearly at the bottom, which is expected to drive the new installed capacity to reach 83 GWh in 24, a year-on-year increase of 44%. In terms of proportion, China's energy storage demand is still in a dominant position. In the Americas region, the annual new installed capacity is expected to reach 43GWh, a year-on-year increase of 44%, and the installed demand is still dominated by the United States, with Chile and Canada likely to contribute higher increments. In Europe, the annual new installed capacity is expected to reach 30GWh, with a year-on-year growth rate of 45%, and the performance of the European market in 24 years has slowed down compared with the growth rate in 23 years. But it will still maintain a high growth rate, mainly supported by large storage capacity. After experiencing a high increase in renewable energy installations during the energy crisis, European countries are facing a growing problem of wind and solar curtailment rates. With the normalization of high curtailment rates and the introduction of subsidy policies, Spain and Italy are expected to become the brightest emerging markets for large reserves in 24 years.
In emerging markets, Chile, Australia, Italy and other markets energy storage growth rate is faster and obvious starting trend. According to TrendForce, Chile's energy storage project pipeline installation has surged due to the passage of the bill to incentivize the deployment of energy storage, and the projects under construction are accelerating the release of the future installed energy storage capacity will tend to be a large proportion of large-scale optical storage projects. Australia's energy storage market development earlier. The energy storage related regulatory framework is more complete, and coal-fired power plant decommissioning is imminent, as well as the federal government and state governments attach great importance to the development of energy storage. Subsidies and policy support are the prerequisites of development of large-scale energy storage project. In the future, large-scale energy storage will be as the main incremental household storage and industrial and commercial synergistic growth. Italy, with the accelerated construction of large storage projects in 2024, coupled with 17.7 billion euros of budgetary support for the energy storage auction mechanism (MACSE) is expected to be launched in 24 years. Italy's energy storage market may be quickly switched to a large storage-led market structure.
Source: https://mp.weixin.qq.com/s/ozpxmgTSDSLhJrJtVfHLAQ