Zhong Guo Neng Yuan Wang·2025-10-16 06:18Core Insights - The energy storage cell market is experiencing a supply tightness, with leading battery manufacturers operating at full capacity and orders extending into early next year [1][2] - The supply tightness is attributed to a rapid shift from oversupply to demand exceeding supply, which was unexpected by industry insiders [1][2] - The cost of energy storage systems is being impacted by the rising prices of core raw materials like lithium and cobalt, which are driving up battery production costs [3][4] Supply and Demand Dynamics - The supply of 300+Ah cells is currently tight, with production capacity utilization rates for leading companies like CATL reaching 89.86%, an increase of 13.53% year-on-year [1][2] - The global energy storage market is seeing a shift towards larger capacity cells (500+Ah), leading to a temporary supply shortage of the current mainstream 300+Ah cells [2][3] Price Trends - The average bidding price for energy storage systems has increased, with 2-hour systems averaging 575.8 yuan/kWh (up 22.2% month-on-month) and 4-hour systems averaging 462.4 yuan/kWh (up 12% month-on-month) [3] - The price recovery is a result of changes in supply-demand dynamics and policy adjustments, contrasting with previous supply tightness driven by domestic policy requirements [3][4] Market Opportunities - The energy storage sector is evolving from a cost center to a profit center, with new revenue streams emerging from capacity leasing and ancillary services [4][6] - Companies are expanding production capacity, with significant investments announced for new battery manufacturing facilities, indicating confidence in long-term market growth [6] Short-term Outlook - The current supply tightness is not expected to cause long-term concerns, as it is viewed as a temporary fluctuation influenced by seasonal demand [5][6] - Companies are advised to diversify suppliers and optimize inventory management to mitigate external risks [6][7] Competitive Landscape - There are warnings about irrational low-price competition in the market, which could pose systemic risks and threaten the safety and profitability of energy storage projects [7]