Global energy storage is developing at a fast pace, moving towards "new energy storage" parity

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High-speed development of global energy storage

In recent years, in order to cope with climate change and realize energy transformation, many countries vigorously develop renewable energy. Compared with traditional fossil energy, renewable energy generation generally has intermittent and fluctuating problems, which need to rely on energy storage technology to regulate, and the development of energy storage has become an important part of energy transformation in various countries.

From a global perspective, the energy storage market is growing at an unprecedented rate. According to incomplete statistics, by the end of 2021, the cumulative installed capacity of commissioned energy storage projects worldwide is about 209.4 gigawatts (GW), an increase of 9% compared to the same period in 2020. China has also achieved high growth in installed energy storage capacity.

As of 2021, the cumulative installed capacity of commissioned energy storage projects in China is 46 GW (GW), with 10.5 GW (GW) of new capacity installed in 2021, close to the total amount of new capacity installed in the previous four years. According to the International Energy Agency, the global installed energy storage capacity is expected to grow by 56% in the next five years, reaching more than 270 GW (GW) by 2026.

The energy storage industry has entered the scale development stage from the early stage of commercialization.

On the one hand, with technological progress and capacity expansion, the cost of wind power, photovoltaic power generation and lithium-ion battery manufacturing costs have fallen significantly in recent years, and on the basis of grid-side parity, the global energy storage industry is now moving rapidly in the direction of "new energy + storage" parity.

On the other hand, after preliminary exploration and practice, the positioning and business model of energy storage is becoming increasingly clear. At present, the United States, Europe and other developed regions of the energy storage market development mechanism has been basically established, the emerging market power system reform also continues to accelerate, energy storage industry is ripe for large-scale development conditions.

Although the development of energy storage has gradually entered the fast lane, but energy storage safety should not be ignored.

Earlier this year, the fire that occurred in the battery storage building of SK Energy in South Korea once again sounded the alarm to the market. According to incomplete statistics, from 2011 to September 2021, more than 50 global energy storage safety accidents have occurred, energy storage safety issues have become a common problem faced globally.

To overcome the current security risks, we must make more efforts in safety prevention. The main responsibility of energy storage safety should be clarified. Top-down research on the prevention and control of fire and disposal of energy storage battery system level, the formation of a market-acceptable safety application program, the introduction of relevant safety standards and norms to effectively reduce the risk of system application safety and ensure environmental protection and reliability.

At the same time, the establishment of energy storage technology application standards system. To ensure the high quality and reliable application of the project, a standard system of energy storage technology should be established in each application area to avoid low price and low quality competition that interferes with the normal order of the market, and to design a compensation mechanism for payment in accordance with the application effect. Only by promoting the development of energy storage in a safer direction can we create a sustainable new energy industry ecology and achieve high-quality development of the new energy industry.

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