政策组合拳为储能产业链打开发展空间

Core Viewpoint - The Chinese government has launched a new action plan to promote the high-quality development of new energy storage, aiming for a significant increase in installed capacity and technological advancement by 2027 [1][2]. Industry Overview - By mid-2025, China's cumulative installed power storage capacity reached 164.3 GW, a 59% year-on-year increase, while new energy storage capacity reached 101.3 GW, a 110% increase, marking a 32-fold increase since the end of the 13th Five-Year Plan [2]. - Continuous policy support and local initiatives are driving the growth of the energy storage sector, with various measures being implemented to enhance the integration of energy storage in different applications [2][3]. Technological Advancements - The industry is transitioning from a strong reliance on mandatory storage to a dual-driven model of technology and market forces, with significant breakthroughs in compressed air storage and sodium-ion battery projects [3]. - Innovations in commercial models are expected to be a key driver for future growth, particularly through deep integration with renewable energy sources like wind and solar [3]. Opportunities for Companies - Companies in the upstream supply chain, particularly those producing core components like cathode materials, are expected to benefit significantly from the policy and market advantages [4]. - The demand for lithium iron phosphate cathode materials has surged, with companies like Hunan YN Energy and Hubei Wanrun reporting substantial increases in sales [5]. - Major players like CATL have seen a significant rise in sales, with a reported 30% year-on-year increase in total sales, highlighting the growing demand for energy storage solutions [6]. Market Dynamics - The energy storage industry is entering a phase characterized by overlapping policy and market benefits, with a focus on enhancing research and development to overcome key technological challenges [6][7]. - The integration of energy storage solutions across various sectors, including data centers and industrial applications, is becoming increasingly prevalent, indicating a trend towards diversified applications [3].