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Energy Storage Enters in Golden Age

Views: 95     Author: Site Editor     Publish Time: 2023-01-06      Origin: www.landkinggroups.net

Energy Storage Enters in Golden Age

Energy storage in the power system is becoming increasingly crucial. Presently, the mechanism for the market-oriented development of energy storage in advanced markets such as the United States and Europe has been basically established. The reform of the power system in emerging markets has also continued to accelerate. The conditions for the large-scale development of the energy storage industry have matured. The global energy storage industry may erupt even more in 2023.

Europe: Low permeability, high growth space, energy storage to a new level

Under the European energy crisis, the high economy of household light storage in Europe was recognized by the market, and the demand for light storage began to grow explosively. Under the residential electricity price contract mechanism, the price of newly signed contracts will rise significantly in 2023, with an average price of more than 40 euros/MWh, an increase of 80~120% year on year. It is expected that the price will remain high in the next 1~2 years, and the rigid demand for optical storage will be seen.

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It estimated that the demand for new energy storage capacity in Europe will be 30GWh/104GWh in 2023/2025, an increase of 113% in 2023, and CAGR=93.8% in 2022-2025.

United States: ITC policy encourages energy storage to develop explosively

The United States is the world's largest energy storage market. In 2022Q1-3, the installed capacity of energy storage in the United States is 3.57GW/10.67GWh, an increase of 102%/93%.

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In 2022, the new PV installations will slow down, but the energy storage will still maintain a rapid growth. In 2023, the photovoltaic installation will be better, the permeability of superimposed energy storage will continue to increase, and support the continued explosion of energy storage installation.

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China: Public policy stimulates high demand, making billions-valued energy storage market over horizon

The domestic mandatory storage ensures the energy storage increment. The installed capacity of 2022Q1-3 is 0.93GW/1.91GWh, and the proportion of large storage in the structure exceeds 93%. In 2023, the ground photovoltaic output and energy storage penetration rate will increase, and the installed demand will grow rapidly. According to statistics, the open bidding for energy storage will reach 41.6GWh in 2022. The shared energy storage mode has been rapidly spread, and capacity compensation, spot power market, time-sharing price difference mechanism, etc. have been gradually implemented to improve the yield of energy storage.

Energy storage development in United States, Europe and China erupts together

Benefiting from the outbreak of large shared energy storage in US & China, and European household energy storage, it expected the global demand for energy storage capacity to be 120/402GWh in 2023/2025, an increase of 134% in 2023, and a CAGR of 98.8% in 2022-2025.

Under the accelerated transformation of energy and the cost of photovoltaic ground power stations will decline in 2023 which usher in the peak of installation, accelerating the explosion of large shared energy storage in China and the United States; Household energy storage will break out in Europe in 2022, and will continue to double in 2023. Household energy storage in regions such as the United States and Southeast Asia will also become mainstream, and energy storage will usher in a golden development period.

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For energy storage air conditioner application case, please refer to Air Conditioner Applied in Energy Storage System Project in Tibet.



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