News

First, why is the energy storage industry so important With the acceleration of the global energy transition, solar, wind and other renewable energy gradually become the main force of energy supply. But these energy sources have a ‘small drawback’, is that their power generation is intermittent and unstable, such as the sun goes down after the solar power generation stops, the wind stops the wind power generation is gone. This leads to the problem of imbalance between supply and demand of electricity, sometimes too much electricity can not be used up, and sometimes not enough. The energy storage technology is like a ‘super charging treasure’, it can be in the electricity when the power to store up, in the electricity less time to release, to ensure the stable operation of the power system.

1. High energy density: the energy density of lithium-ion batteries is much higher than that of lead-acid batteries, which means that lithium batteries are able to store more electricity under the same volume or weight. For example, for electric vehicles, the use of lithium batteries can significantly increase the vehicle's range.

Reducing peaks and filling valleys Many regions have a peak and valley pricing policy, which means that electricity prices are higher during peak periods and lower during trough periods. Domestic energy storage systems can store electricity during low tariffs and release it during peak hours, thus reducing electricity consumption during peak hours and effectively lowering electricity bills. For example, research in Germany shows that a 2kW photovoltaic system with a 2kWh storage battery can reduce grid electricity costs by 64%.

1. Soaring electricity costs: global electricity prices rose 35% (citing IEA data), the average annual cost of electricity for U.S. households exceeds $1,500, energy storage systems can reduce 50% grid dependence.

In 2024, the global energy storage market continued to maintain a high rate of development, with the installed capacity of newly commissioned power storage projects reaching 82.7 GW, a year-on-year increase of 59.0%. Among them, the new energy storage installed capacity accounted for nearly 90%, reaching 74.1 GW. China's performance in the field of new energy storage is particularly outstanding, the new installed capacity reached 43.7 GW, accounting for about 60% of the global new installed capacity. By the end of 2024, China's cumulative power storage installed capacity reached 137.9 GW, of which the installed capacity of new energy storage reached 78.3 GW, for the first time exceeding the installed capacity of traditional pumped storage.

Energy storage, as its name suggests, is the temporary storage of various forms of energy, such as electricity and heat, and then release them when needed. It is like a magical ‘energy box’, which can ‘eat’ into the energy when energy is abundant, and then ‘spit’ out when energy is tight or needed. Doesn't this sound like a scene from a science fiction film? But in fact, this is already a real part of our lives!