年终盘点| 储能“低价内卷”与技术迭代同存，明年的竞争格局如何生变

Core Insights - The energy storage industry is undergoing significant changes due to intensified price competition and a consensus on "anti-involution" actions, leading to a shift from rapid growth to high-quality development by 2025 [1][3] Price Competition and "Anti-Involution" Consensus - In the first half of 2025, the new energy storage installed capacity in China reached 94.91 million kW (222 million kWh), a growth of approximately 29% compared to the end of 2024 [2] - The price of lithium battery storage systems has plummeted nearly 80% over the past three years, causing many companies to face a situation of "increased revenue but no profit" [2] - About one-third of system integrators are selling below cost, and this proportion is rising, leading to widespread losses in the industry [2] - The ongoing irrational price competition poses systemic risks to the healthy operation of the energy storage industry [2] Industry Response and Initiatives - Industry leaders emphasize the need to resist irrational low-price competition, which threatens safety and profitability, and could undermine China's leading position in the global market [3] - A joint initiative was launched in the second half of 2025 by industry organizations to promote healthy development, opposing disruptive market behaviors [4] Technological Advancements - The energy storage industry is experiencing accelerated technological iterations, focusing on the entire lifecycle value of storage systems rather than just upfront costs [5] - The trend towards larger battery cells (from 280Ah to 500Ah and beyond) is expected to reduce system costs by approximately 40% and enhance operational efficiency [6][7] - Long-duration energy storage and sodium-ion batteries are gaining attention as essential technologies for addressing renewable energy integration challenges [8] Evolving Competitive Landscape - The competition in the energy storage sector is shifting from price-based to financial model competition, focusing on investment returns and asset liquidity [11] - The market is expected to maintain high growth, with global energy storage shipments projected to reach nearly 800 GWh by 2026 [12]