储能行业重回高景气

Group 1 - The storage industry has seen a significant increase in prosperity since September, driven by favorable policies and a clearer revenue model, with upstream raw material supply tightening and leading battery companies operating at full capacity [1] - By the end of September 2025, the installed capacity of new energy storage in China is expected to exceed 100 million kilowatts, contributing over 200 billion yuan in project investments and over 1 trillion yuan in upstream and downstream investments [1] - The National Development and Reform Commission and the National Energy Administration have jointly issued a plan targeting over 100 million kilowatts of new energy storage capacity added by 2027, with direct project investments estimated at around 250 billion yuan [2] Group 2 - The cost of energy storage systems has decreased by approximately 80% compared to three years ago, with some regions achieving a cost of less than 0.2 yuan per kilowatt-hour, and further reductions of about 40% are anticipated with larger capacity cell upgrades [2] - The storage industry is experiencing a surge in new product launches, with over 300 new storage products introduced in the first half of the year, emphasizing large capacity and power as key competitive indicators [3] - The market for new energy storage is expected to shift towards a market-driven development model, focusing on the green value of storage and diversifying application scenarios in zero-carbon parks and green electricity resource development [4]