Chan Ye Xin Xi Wang·2025-06-07 01:58Core Insights - The article emphasizes the importance of grid energy storage as a key infrastructure for building a new power system, focusing on its roles in balancing power supply and demand, stabilizing grid operations, and efficiently integrating renewable energy sources [1][14]. Industry Overview - Grid energy storage refers to systems that store electrical energy through physical or chemical means and release it back to the grid when needed, aiming to balance supply and demand, enhance grid stability, and promote renewable energy consumption [2]. - The technology is categorized by storage principles (mechanical, electrochemical, electromagnetic, thermal) and application duration (short-term, medium-term, long-term) [2][3]. Current Development Status - As of Q1 2025, grid-side energy storage has shown robust growth, with a power scale share of 52.3%, a year-on-year increase of 17 percentage points. New installations reached 2.63 GW/6.48 GWh, reflecting year-on-year growth of 46%/68% [1][14]. - The industry has transitioned from technology exploration to large-scale application over the past three decades, with lithium-ion batteries dominating the market [6][12]. Policy Framework - The Chinese government has integrated carbon peak and carbon neutrality into its ecological civilization strategy, identifying energy storage as a critical technology for supporting high proportions of renewable energy integration [8]. - Policies have been issued to accelerate the development of new energy storage, with targets set for 30 GW of installed capacity by 2025 and a fully market-oriented development by 2030 [8][9]. Competitive Landscape - The grid-side energy storage industry in China has formed a competitive landscape characterized by a tripartite structure of state-owned enterprises, private companies, and technology firms [16]. - Major players include State Grid and Southern Power Grid, which dominate large projects, while battery giants like CATL and BYD control core supply chain segments [16][18]. Future Trends - The industry is expected to see diversification in technology routes, with long-duration storage solutions like flow batteries and compressed air storage gaining traction [22]. - Market-driven models will replace mandatory storage policies, with shared storage and virtual power plants becoming mainstream, enhancing the economic viability of storage projects [23][24].