SCS(SH:601555) Zhi Tong Cai Jing·2025-09-26 03:49Group 1 - The core viewpoint of the report indicates a significant rise in independent energy storage in China, with improved economic viability and a clear increase in demand, alongside sustained high demand for large-scale storage in Europe and emerging markets [1] - The transition from mandatory energy storage to independent energy storage in China is expected to enhance the revenue model for storage projects, with local governments introducing capacity price compensation policies [1] - The report anticipates that the domestic energy storage demand forecast will be revised upwards, with a projected installation of 149 GWh in 2025 and 194 GWh in 2026, driven by strong demand in regions like Xinjiang and Inner Mongolia [2] Group 2 - The supply of energy storage cells is expected to remain tight until the second half of 2026, with a global demand forecast of 521 GWh in 2025 and 710 GWh in 2026, reflecting a year-on-year growth of 60% and 36% respectively [2] - The report highlights that the independent energy storage model is replacing the traditional capacity storage model, leading to higher quality requirements for storage batteries and systems, which is likely to concentrate the competitive landscape [2] - The emergence of integrated system providers and the rise of construction and operation models are expected to benefit companies with technological and resource advantages in the energy storage sector [2]