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.

Imagine a sunny afternoon, your home's rooftop solar panels are generating electricity, and the excess power is stored in a home energy storage system. When the sun goes down, this stored energy is released to power your home. It sounds like a scene from a science fiction film, but it's a reality today. As technology advances, energy storage devices are becoming smaller and smarter. For example, some portable energy storage devices can already easily fit into a backpack to provide power support for outdoor activities. This technology not only facilitates individual users, but also provides a reliable energy solution for emergency rescue and remote areas. V. Future outlook: how can energy storage change our lives?

Speaking of energy storage, we have to mention lithium-ion batteries. It is the energy storage sector's ‘popular little boy’, with high energy density, long cycle life and fast charging and discharging and other advantages, has become one of the most popular energy storage technology. From our smart phones to electric vehicles, to large-scale energy storage power stations, we can see the figure of lithium-ion batteries. It is like an energetic young guy who can always bring us surprises. However, lithium-ion batteries also have some minor drawbacks, such as relatively high cost and some safety issues that may arise in extreme environments. But don't worry, scientists are working hard to overcome these challenges and make lithium-ion batteries even better.

Imagine how convenient it would be if electricity could be charged and used at any time like a mobile phone. Energy storage technology is such a ‘supercharger’. It can be stored when there is an excess of power and released when there is a shortage of power, solving the limitations of instant power.

In the arena of energy storage, battery energy storage is definitely the ‘big star’. Speaking of batteries, we may immediately think of mobile phone batteries, electric car batteries. But energy storage batteries can be much more powerful than them, they are like the battery sector ‘giant’. Lithium-ion batteries, for example, it is like a super-capable ‘small hands’, high energy density, like a small ‘energy box’, can hold a lot of energy. And it charges and discharges quickly, like a super ‘courier’, can send the energy out quickly, but also can be quickly retrieved. Moreover, the lithium-ion battery life is also very long, like a super ‘endurance king’, can withstand many times the test of charging and discharging. Now, lithium-ion battery storage system has been widely used in many places. For example, in some large solar power station and wind power station, installed next to the lithium-ion battery storage system, like a super power station with a ‘backup power’. When the solar and wind power generation is insufficient, the energy storage system can be timely ‘fill in’ to ensure a stable supply of electricity. Moreover, lithium-ion battery storage system can also be used in some remote areas, such as islands, mountainous areas, etc., these places may not be very stable power grid, with the energy storage system, you can let the residents there can also use stable electricity, and live a comfortable life in the city.