Energy Storage Industry Status Analysis

The global climate is warming, all countries are working together to cope with climate change, and the global energy structure is irreversibly transforming to low-carbon. In this context, the power sector must achieve decarbonization targets by mid-century, and large-scale use of renewable energy is the main path to achieve decarbonization.

In the era of traditional energy, the power generation mode of coal power and gas turbine can meet the needs of stable regulation of power grid. In the era of scenery, renewable energy generation is intermittent, and with the increasing number of scenery projects, the demand for power system auxiliary services such as smooth output and peak regulation is also growing rapidly. The importance and urgency of energy storage are becoming increasingly prominent.

The energy storage industry is rich in application scenarios, which can be divided into three categories: power generation side, power grid side and user side. On the power side, there are many types of demand scenarios for energy storage, including renewable energy grid connection, power peak regulation, and system frequency modulation. Energy storage on the grid side is mainly used to alleviate grid congestion and delay transmission and distribution expansion and upgrading. User-side energy storage is mainly used for self-use of electricity, peak-valley spread arbitrage, capacity and electricity management and improve power supply reliability.

Energy storage is an inevitable choice for the future development of the power industry. Due to the needs of large-scale new energy access to the grid, power peaking and valley filling, participation in voltage and frequency regulation, and the development of microgrids, energy storage will play an indispensable role in the future power system.