Thanks to the rapid decline in the cost of lithium-ion batteries driven by the large-scale production of power batteries for new energy vehicles, the market demand for energy storage batteries has begun to increase. In 2021, the growth rate of global energy storage battery shipments will be basically the same as that of power batteries.
energy storage
In the context of the continuous fermenting of the energy crisis, the intensification of energy shortages and high prices, with the advancement of the dual-carbon goal, the need for transition to renewable energy is increasingly urgent. However, due to the lack of stability and balance of renewable energy, the market demand for energy storage batteries is accelerating.
The trillion-dollar energy storage market is surging
In recent years, energy storage policies have been intensively implemented in aspects such as top-level planning, demonstration projects, detailed awards and subsidies, and safe operation. By 2025, new energy storage will enter the stage of large-scale development from the initial stage of commercialization, with large-scale commercial applications. Conditions; by 2030, new energy storage will be fully market-oriented.
In 2025, the installed capacity of new energy storage will reach more than 30GW.
However, judging from the continuously upward forecast data from relevant research institutions, in the "14th Five-Year Plan", the installed capacity of new energy storage may far exceed the above-mentioned planning goals.
Under the encouragement and guidance of a series of policies such as promoting and deepening the reform and innovation of systems and mechanisms in the energy field, accelerating the construction of a clean, low-carbon, safe and efficient energy system, and promoting high-quality energy development and comprehensive green transformation of economic and social development, local “new energy + energy storage” "Pilot demonstration projects are advancing rapidly. On April 7, the Shandong Provincial Energy Administration released a public announcement on the energy storage demonstration projects in 2022. 25 lithium battery energy storage projects are listed, with a total demonstration scale of 2568MW.
In this context, energy storage is hailed as the next "trillion-dollar outlet". At present, there are about 170 energy storage concept stocks in Shanghai and Shenzhen. Since June 2021, energy storage concept stocks have continued to be sought after by the market, and the cumulative increase has been significantly better than that of the CSI 300 over the same period.
Recently, research institutions EVTank, Ivey Economic Research Institute and China Battery Industry Research Institute jointly released the "White Paper on the Development of China's Li-ion Battery Industry (2022)". Data from the white paper shows that in 2021, the total global shipments of lithium-ion batteries will be 562.4GWh, a substantial increase of 91.0% year-on-year. Among them, the global vehicle power battery (EV LIB) shipment was 371.0GWh, a year-on-year increase of 134.7%; the energy storage battery (ESS LIB) shipment was 66.3GWh, a year-on-year increase of 132.6%.
It can be seen that thanks to the rapid decline in the cost of lithium-ion batteries driven by the large-scale production of power batteries for new energy vehicles, the market demand for energy storage batteries has begun to increase. In 2021, the growth rate of global energy storage battery shipments will be basically the same as that of power batteries.
On April 2, data released by the Electronic Information Department of the Ministry of Industry and Information Technology showed that the total output of lithium batteries in the country from January to February exceeded 82GWh, of which the output of energy storage batteries exceeded 9GWh, and the installed capacity of power batteries for new energy vehicles was about 30GWh.
With the gradual increase in the proportion of renewable energy, the rapid growth of photovoltaic and wind power installed capacity will drive the large-scale development of energy storage power stations. In 2025, the cumulative installed capacity of electrochemical energy storage power stations in the world will reach 150GW, and by 2030, it will reach 550GW.
It is estimated that the global energy storage market space will reach 500-700 billion yuan by 2025.
By 2025, my country's energy storage investment market space will reach 0.45 trillion yuan; in 2030, it will grow to about 1.30 trillion yuan; from 2020 to 2060, the cumulative market space for energy storage investment will reach 122 trillion yuan.
According to public information, energy storage is mainly divided into three categories: mechanical energy storage, electrochemical energy storage, and solar thermal energy storage. Among them, pumped storage is the most mature energy storage technology, with high energy conversion efficiency, accounting for more than 90% of the current Chinese energy storage market. In recent years, the development of new energy storage industry has continued to accelerate. New energy storage refers to new electrical energy storage technologies other than pumped storage, including lithium batteries, compressed air, liquid flow, flywheels, sodium batteries, hydrogen storage, heat storage and other methods. At present, in the new energy storage, both global and domestic, lithium-ion battery energy storage systems have dominated the commercial field.
According to the battery network, the current participants of energy storage batteries are becoming more and more diversified. Since the beginning of this year, existing energy storage integrators, lithium battery companies, traditional energy giants and other parties have made frequent layout actions:
On April 6, BYD (002594) stated in the latest investor relations activity record form that the company has achieved scale from a few kilowatts of small household energy storage to 100 megawatts or even gigawatt-level grid energy storage solutions. , commercial application. In addition, BYD launched a new generation of grid-level energy storage product platform BYDCube T28 last year, which increased the energy density per unit area by 90% compared with the previous generation of air-cooled container products, indicating that the era of GWh energy storage has arrived.
On April 2, the PetroChina Bidding and Bidding website showed that PetroChina released three energy storage related bidding documents in succession, namely the development and application project of sodium-ion battery and energy storage device, the development project of lithium iron phosphate battery technology and battery testing system, High-power electrochemical energy storage battery management system and energy management system development.
On the evening of March 30, Tianneng Co., Ltd. (688819) announced that it intends to use its wholly-owned subsidiary Zhejiang New Energy as the main body of project implementation, adding 583 mu of land in Changxing District, South Taihu Industrial Cluster, Huzhou, and investing in the construction of energy storage with an annual output of 15GWh And the power lithium battery project, the total investment is expected to be about 5.17 billion yuan.
On March 28, Shanghai Electric Guoxuan New Energy Technology Co., Ltd. and Pacific Green Technology, a US-listed company, held an online signing ceremony for the UK REP1&2 energy storage project, announcing the official launch of the project. It is reported that the UK REP1&2 energy storage project is located in the Ridgeborough Energy Park, Kent, UK.
On the evening of March 25, Manly Battery announced that the company has recently signed a battery energy storage system equipment supply contract with many customers, and the company will sell a total of 185MWh of containerized battery energy storage systems to this customer.
On March 22, the People's Government of Pengshan District, Meishan City, Sichuan Province and China Innovation Aviation held a signing ceremony for the power battery and energy storage system Meishan Base Project in Chengdu. The total planned investment of the project is about 10 billion yuan.
On the evening of March 17, Sunwoda (300207) announced that the company's subsidiary Sunwoda Electric Vehicles plans to invest in the construction of the "Xunwoda Shifang Power Battery and Energy Storage Industry Production Base Project (tentative) in Shifang City. ”, the project plans to invest a total of 8 billion yuan to build a 20GWh power battery and energy storage battery production base. In February this year, Xinwangda invested 20 billion yuan to build a new base in Zaozhuang, Shandong, with a planned area of 1,000 mu and a construction area of about 1 million square meters. It mainly builds an annual output of 30GWh of power batteries, energy storage batteries and supporting production bases.
On the evening of March 10, EVE (300014) announced that its subsidiary EVE plans to invest in the construction of a 20GWh square lithium iron phosphate battery production line and auxiliary facilities project and a 48GWh power storage battery production line and auxiliary facilities project in Jingmen High-tech Zone. The investment projects are fixed. The total asset investment is about 12.6 billion yuan.
On February 28, Zhuhai Guanyu (688772) announced that it plans to invest in a new high-performance lithium-ion battery project in Chongqing. The project is expected to have a total investment of RMB 4 billion and will build 6 new high-performance lithium-ion battery intelligent production lines. , forming an annual production capacity of 15GWh of high-performance new lithium-ion batteries, mainly energy storage batteries. It is planned to start construction in 2022 and be completed and put into production in 2025.
On February 17, LG New Energy announced that the company officially acquired 100% of the shares of NEC Energy Solutions (NEC ES), an energy storage system manufacturer located in the United States from Nippon Electric Co., Ltd. (NEC). system integration market. LG New Energy revealed that the global energy storage system market is expanding, and more and more customers have proposed to battery manufacturers that they need energy storage system integration solutions. In the future, the company will independently build a large-scale energy storage system, which will no longer be subject to battery supply issues, and will respond to customer needs in a more timely manner.
On February 8, Lishen Battery held the commencement ceremony of the Chuzhou Base Project in Quanjiao County, Chuzhou City, Anhui Province. The Lishen Battery Chuzhou Base Project plans to produce 36GWh of power batteries and energy storage batteries annually, with a total investment of about 15.2 billion yuan.
On February 8, the signing ceremony of the strategic cooperation between the Gaoan Municipal People's Government and Sunshine New Energy, a subsidiary of Sungrow (300274), was held in Hefei, Anhui Province. It is planned to invest over 10 billion yuan in Gaoan to build an energy storage system equipment manufacturing base with an annual production capacity of 10GWh and a 2GW energy storage system. +200MW/400MWh wind-solar storage green application project and 500MW/500MWh energy storage application demonstration project.
On February 6, China Huaneng Group Co., Ltd.'s e-commerce platform announced the bidding results of Huaneng energy storage battery procurement, and Xiamen Haichen New Energy Technology Co., Ltd. successfully won the bid. According to local media reports in Xiamen, Haichen New Energy has won a large order of more than 1 billion yuan in the spring. It is reported that the energy storage cells purchased for this project are Haichen New Energy 280Ah energy storage cells with a total capacity of 2GWh.
On the evening of January 20, Desay Battery (000049) announced that the company plans to set up a holding subsidiary in Changsha Wangcheng Economic and Technological Development Zone to build the "Desay Battery Energy Storage Cell Project". The project plans to invest 7.5 billion yuan in fixed assets. , 20GWh energy storage battery project headquarters, R&D center and production center will be deployed in three phases.
