电力设备及新能源行业专题研究：新型储能产业链之河南概况（二）

Investment Rating - The report maintains an "Outperform" rating for the electric power equipment and new energy sector [1] Core Insights - The new energy storage industry in China is transitioning from a policy-driven phase to a market-driven phase, with significant growth in installed capacity and supportive government policies [6][15][20] - The installed capacity of new energy storage in China reached 94.91 GW/222 GWh by mid-2025, accounting for over 40% of the global total [25][26] - The report highlights the rapid growth of new energy storage projects globally, with a 62.5% increase in newly installed capacity in 2024 [21][24] Summary by Sections 1. Current Development of China's New Energy Storage Industry - New energy storage, excluding pumped storage, is crucial for building a new power system dominated by renewable energy [13] - The industry is entering a market-driven phase, with policies emphasizing the development of new energy storage [15][16] 2. New Energy Storage Downstream Application Scenarios - The main applications of energy storage in China are categorized into three areas: power source side, grid side, and user side [39][40] - Power source side storage is primarily used in conventional power plants and renewable energy facilities to enhance stability and efficiency [43][44] - Grid side storage provides essential services such as peak shaving and frequency regulation, ensuring the reliability of the power system [48][51] - User side storage focuses on reducing electricity costs and enhancing supply reliability, with applications in commercial and industrial settings [53] 3. Development of New Energy Storage in Henan Province - Henan aims to achieve over 5 million kW of new energy storage capacity by 2025 and over 15 million kW by 2030, with strong government support [9][10] - The province is focusing on grid-side storage and independent storage projects to alleviate renewable energy consumption pressures [9][10] 4. Recommendations for the Development of New Energy Storage Industry in Henan - The report suggests promoting independent storage projects and enhancing price mechanisms to support the growth of the new energy storage sector in Henan [9][10]