Industry News

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!

Energy storage technology refers to the technology of storing electrical, thermal or other forms of energy through specific devices or physical media, and releasing them when needed. Energy storage systems play a vital role in power systems, especially in dealing with the intermittency and instability of renewable energy sources (e.g., wind, solar). Through energy storage technology, peak shaving and valley filling, frequency and voltage regulation of the power system can be realised, and the stability and reliability of the power grid can be improved.

Energy storage technology is like a magical treasure trove of energy, and its emergence is no accident. With our growing demand for energy, especially those clean renewable energy, such as wind, solar energy, although they are very environmentally friendly, but has a small temperament - rely on the sky to eat. When the wind stops, wind turbines can't turn; when the sun goes down, solar panels go on strike. At this time, the energy storage technology to come forward, the excess energy stored, wait until the time of need and then released, so that the energy supply is as stable as Mount Tai. Second, energy storage ‘warrior’ of the great martial arts

When it comes to energy storage, electrochemical energy storage has to be mentioned. Among them, lithium-ion batteries are currently the ‘star of the show’. It is like a high energy density, light weight, small size of the ‘small hand’, widely used in consumer electronics, new energy vehicles and energy storage field. However, lithium-ion batteries also have their own ‘temperament’, such as safety challenges, thermal runaway is the focus of research.

The energy storage industry has always played a role around us, but many people have not noticed. Imagine when the sun goes down and the solar panels stop generating electricity, or when the wind stops blowing and the wind turbines stop rotating, what happens to the equipment that originally relied on renewable energy? That's where energy storage systems come in. It's like a supercharger, storing energy when it's plentiful and releasing it when it's needed to ensure a stable energy supply. This technology is used in a wide range of applications, from small storage devices in homes, to large-scale grid storage systems, to battery technology in electric vehicles.