15.85GWh，储能新增装机同比增长228%！5月新型储能项目分析

Core Insights - The new energy storage projects in China saw a significant increase in installed capacity in May 2025, with a total of 6.32 GW and 15.85 GWh added, representing year-on-year growth of +193% and +228% respectively [1][2] - The growth in energy storage is primarily driven by front-of-the-meter storage, which accounted for 6.17 GW and 15.38 GWh, showing year-on-year increases of +213% and +248% [1] - User-side storage experienced a decline in installed capacity, with 150 MW and 473 MWh added, reflecting a year-on-year decrease of -19% [1] Regional Distribution - A total of 26 provinces in China added new energy storage projects, with 11 provinces exceeding 100 MW in new installations [3] - Yunnan province led the country with nearly 2.5 GW of new shared storage projects, followed by Qinghai, Xinjiang, Inner Mongolia, and Shandong, each with over 500 MW of new installations [3] Application Distribution - Grid-side independent storage dominated the market with a year-on-year growth rate exceeding 200%, contributing 4.95 GW and 11.61 GWh in new installations [6] - Power-side storage added 1.22 GW and 3.77 GWh, with 98% of new installations being renewable energy-related [6] - User-side storage primarily focused on commercial applications, with data centers accounting for over 40% of the user-side installations [7] Technological Distribution - Lithium-ion batteries remain the dominant technology, accounting for 96% of the new installed capacity [10] - There is an acceleration in the application of hybrid storage technologies, including combinations of lithium iron phosphate with various other technologies [10] Market Expectations - The energy storage market is expected to see continued growth in the second quarter of 2025, driven by the "531" policy and local government incentives [12] - However, uncertainties regarding the participation of new energy storage in the electricity market may impact future installations [13] - The competitive landscape remains intense, with a decline in prices for energy storage systems and EPC services observed [14]