Hua Xia Shi Bao·2025-11-21 23:38Core Viewpoint - The photovoltaic industry is increasingly entering the energy storage sector, with companies like Trina Solar and LONGi Green Energy making significant moves to capture market opportunities in energy storage as the demand for system flexibility grows due to rising renewable energy installations [2][4][9]. Group 1: Company Developments - Trina Solar has recently announced securing a large overseas energy storage contract, highlighting its early entry into the energy storage market [2]. - LONGi Green Energy is acquiring approximately 61.9998% of Suzhou Jingkong Energy Technology Co., Ltd., marking its official entry into the energy storage sector [2][4]. - Other major photovoltaic companies, including Sungrow Power Supply, Canadian Solar, and JA Solar, have also established their presence in the energy storage market [4][6]. Group 2: Market Dynamics - The energy storage market is expected to grow significantly as the cost of storage decreases and the demand for system flexibility increases [2][9]. - From 2022 to the present, 22 listed companies have diversified into energy storage, indicating a trend of cross-industry investment [4]. - The global energy storage market is experiencing explosive growth, with China's new energy storage installed capacity exceeding 100 million kilowatts, accounting for over 40% of the global total [9][10]. Group 3: Financial Performance - Trina Solar's energy storage shipments are projected to reach 4.3 GWh in 2024, with a cumulative total exceeding 10 GWh [6]. - LONGi Green Energy's acquisition of Jingkong Energy is seen as a strategic move to enhance its energy storage capabilities and achieve integrated solar-storage-hydrogen solutions [4][5]. - Sungrow Power Supply reported a 127.78% year-on-year increase in energy storage system revenue, contributing significantly to its overall performance [7]. Group 4: Industry Trends - The energy storage sector is becoming a critical component of the renewable energy landscape, driven by both internal competition in the photovoltaic sector and external market opportunities [9]. - The demand for lithium-ion batteries for energy storage is expected to remain high, with projections indicating a total shipment of 580 GWh in 2025, reflecting a growth rate exceeding 75% [10]. - The rising prices of lithium battery materials, such as lithium hexafluorophosphate and lithium carbonate, are indicative of the booming energy storage market [11].