“国家队”之外，第三方企业加速入局———9月源网侧新型储能项目分析

Core Insights - The article highlights a significant growth in the energy storage market, particularly in the source-network side, with a year-on-year increase of over 180% in September, and independent storage capacity rising nearly 340% [3][4]. Group 1: Market Overview - In September 2025, the newly installed capacity of energy storage projects reached 3.08 GW/9.08 GWh, marking a year-on-year increase of 166%/200% and a month-on-month increase of 7%/15% [4]. - The total installed capacity for the first three quarters of 2025 reached 9.16 GW/25.52 GWh, which is 74% of the total installed capacity for the entire previous year, indicating that 2025 is on track to exceed last year's figures [5]. Group 2: Source-Network Side Analysis - In September, the source-network side added 2.84 GW/8.50 GWh, with year-on-year growth of 189%/226% and month-on-month growth of 15%/21% [7]. - Independent storage accounted for over 80% of the new installations, with a capacity of 2.31 GW/6.73 GWh, reflecting a year-on-year increase of 340%/576% [8]. - The East China region contributed over 35% of the new installations, with Jiangsu province leading in capacity, where independent storage made up 99% of the new installations [11]. Group 3: Investment Trends - The market is witnessing a diversification of investment entities, with major state-owned power groups maintaining a leading position but experiencing a 10 percentage point decrease in market share compared to August [15][16]. - Third-party enterprises, including lithium battery manufacturers and private equity firms, accounted for nearly 40% of the new installed capacity, a significant increase of 28 percentage points from August [16]. Group 4: Technological Developments - Long-duration energy storage technologies are rapidly being implemented, with compressed air storage projects making up a quarter of the new installations in September [18]. - A mixed storage facility integrating multiple battery technologies, including liquid flow and sodium-ion batteries, has been successfully launched in Shanghai [19].