Development status of new energy storage and the latest trends in key technologies

In recent years, under the background of promoting energy transformation and building new power systems, the energy storage industry has received great attention from the whole society and countries around the world. my country's new energy storage technology research and development, energy storage system integration, energy storage demonstration applications, energy storage Industrialization and other fields are developing extremely actively.

Currently, the development of the global energy storage industry presents the following four major development characteristics and trends:

First, the global energy storage industry is in a period of rapid growth. As of the end of 2022, the scale of energy storage projects in operation worldwide has reached 240 million kilowatts, a year-on-year increase of 15%. In 2022, the new energy storage capacity will exceed 30 million kilowatts, doubling that in 2021. Among them, the new scale of China, Europe and the United States accounted for 36%, 26% and 24% respectively, and the three together accounted for 86% of the global new market.

Second, electrochemical energy storage will become the main part of the increase, and load-side energy storage will experience explosive growth. As of the end of 2022, the global installed capacity of electrochemical energy storage has reached 45 million kilowatts, with an annual growth rate of 80%, of which lithium-ion batteries still dominate.

Third, the construction of new power systems will become the core driving force for the development of energy storage. Energy storage is an important technology and basic equipment for building a new power system, which is conducive to the rapid growth of new energy and the improvement of global electrification. According to predictions by relevant agencies, from 2022 to 2050, the proportion of global power generation from new energy sources such as wind and solar will increase from 14.4% to 50%, and the proportion of electricity in terminal energy consumption will increase from 20% to more than 50%.

Fourth, the cost reduction of energy storage technology and policy layout will promote the continued expansion of the industry. As technology matures and production capacity expands, energy storage costs are falling rapidly. Taking lithium-ion batteries as an example, the global average price in 2022 will be approximately US$150/kWh, a drop of nearly 80% from 2013.

It is worth noting that the development momentum of new energy storage in my country is very rapid. As of the end of 2022, the country's new energy storage installed capacity will be approximately 8.7 million kilowatts/18.05 million kilowatt hours, with an average energy storage time of 2.1 hours. Among the new energy storage projects that have been put into operation across the country, lithium-ion batteries account for about 94.5%, lead-acid (carbon) batteries account for about 1.7%, and flow batteries account for about 1.6%. The development of compressed air energy storage is accelerating, accounting for approximately 2.0%.