格隆汇APP·2025-10-08 07:27Core Insights - The Chinese energy storage industry is experiencing unprecedented growth, driven by the introduction of the "New Energy Storage Scale Construction Special Action Plan," which sets a target of 180 million kilowatts of installed capacity and anticipates direct investments of 250 billion yuan [2] - The release of the "Document 136" marks the end of the mandatory energy storage era, allowing independent energy storage to emerge as a significant player in the electricity market [3][4] Policy Changes - The key breakthrough of Document 136 is the clarification that energy storage cannot be a prerequisite for new energy project grid connection, effectively ending the administrative mandatory energy storage model [6][7] - The policy encourages a shift from a "policy task" to a "profitable choice," enabling companies to cover costs through peak-valley arbitrage and ancillary services, thus changing the competitive focus from price to value [7][8] Demand Surge - In the first nine months of 2025, global energy storage installations reached 86 GW, a 92% year-on-year increase, with domestic additions of 41 GW and international additions of 45 GW [10] - The user-side energy storage market is thriving, with a 230% year-on-year increase in domestic installations, driven by significant price differences in provinces like Guangdong and Jiangsu [10][13] Technological Advancements - From 2020 to 2025, the cost of domestic energy storage systems decreased from 1.8 yuan/Wh to approximately 0.8 yuan/Wh, a 55% reduction, while efficiency improved from 85% to 92% [15] - Lithium batteries remain the dominant technology, accounting for 82% of global energy storage installations, with significant cost reductions and efficiency improvements [15][18] Market Dynamics - The "Matthew Effect" is becoming more pronounced, with leading companies experiencing revenue growth rates exceeding 100%, while smaller firms lag behind [18][20] - The upstream segment shows stable costs and scale advantages, while the midstream sector is becoming the value center of the industry, with leading companies like Sungrow and CATL capturing significant market shares [19][20] Future Outlook - The energy storage sector is not merely a short-term trend but a necessary choice for global energy transition, with predictions of substantial growth in installed capacity and market size by 2030 [22][23]