Application of Energy Storage Market

Lithium iron phosphate battery has a series of unique advantages, such as high working voltage, high energy density, long cycle life, low self-discharge rate, no memory effect, green and environmental protection, and supports stepless expansion. It is suitable for large-scale electric energy storage. It has good application prospects in the fields of safe grid connection of renewable energy power stations, grid peak shaving, distributed power stations, UPS power supply, emergency power supply system, etc.
According to the latest energy storage report recently released by international market research institute GTM Research, the application of grid side energy storage projects in China in 2018 has led to a continuous increase in the use of lithium iron phosphate battery.
With the rise of the energy storage market, in recent years, some power battery enterprises have laid out energy storage business to open up new application markets for lithium iron phosphate battery. On the one hand, lithium iron phosphate, due to its ultra-long lifespan, safe use, large capacity, and green environmental protection, can be transferred to the energy storage field, which will extend the value chain and promote the establishment of a new business model. On the other hand, the energy storage system matched with lithium iron phosphate battery has become the mainstream choice in the market. It is reported that lithium iron phosphate battery has been tried to be used in electric buses, electric trucks, user side and grid side FM.
1. Safe grid connection of renewable energy generation such as wind power and photovoltaic power. The inherent randomness, intermittency, and volatility of wind power generation determine that its large-scale development will inevitably have a significant impact on the safe operation of the power system. With the rapid development of the wind power industry, especially in China where most wind farms are "large-scale centralized development and long-distance transmission", the grid connected power generation of large-scale wind farms poses a serious challenge to the operation and control of the large power grid.
Photovoltaic power generation is influenced by environmental temperature, sunlight intensity, and weather conditions, and exhibits a random fluctuation characteristic. China is showing a development trend of "decentralized development, low voltage local access" and "large-scale development, medium to high voltage access", which puts forward higher requirements for peak shaving of the power grid and safe operation of the power system.
Therefore, high-capacity energy storage products have become a key factor in solving the contradiction between the power grid and renewable energy generation. The lithium iron phosphate battery energy storage system has the characteristics of fast condition conversion, flexible operation mode, high efficiency, safety, environmental protection, and strong scalability. It has been applied in the national wind and solar energy storage and transmission demonstration project, which will effectively improve equipment efficiency, solve the problem of local voltage control, improve the reliability of renewable energy power generation and improve power quality, and make renewable energy a continuous and stable power supply.
With the continuous expansion of capacity and scale, the continuous maturity of integration technology, the cost of the energy storage system will be further reduced. After long-term testing of safety and reliability, the lithium iron phosphate battery energy storage system is expected to be widely used in the safe grid connection of wind power generation, photovoltaic power generation and other renewable energy power generation and in improving power quality.
2. Peak shaving of the power grid. The main means of peak shaving in the power grid has always been pumped storage power plants. Due to the need to build two reservoirs, the upper and lower, for pumped storage power stations, which are greatly limited by geographical conditions, it is not easy to build them in plain areas, and they also occupy a large area with high maintenance costs. Lithium iron phosphate battery energy storage system