Core Insights - The report from Huazhong Securities indicates a significant increase in domestic energy storage bidding scale in September 2025, reaching 11.7 GW and 42.6 GWh, with a year-on-year increase of 161% but a month-on-month decrease of 48% [1] - The average bidding prices for 2-hour and 4-hour energy storage systems in September were 0.641 and 0.464 yuan/Wh, respectively, reflecting a month-on-month increase of 31% and 8% [1] - The overseas market shows strong growth potential, particularly in Europe, the US, Australia, and Africa, driven by renewable energy penetration and economic improvements [1] Low ROE Market - In China, the installed capacity for energy storage reached 2.84 GW and 8.19 GWh in August 2025, with a significant bidding scale in September [2] - In India, the energy storage system installed capacity was 0.5 GWh by the end of August, with a total bidding of 43.28 GWh for standalone storage and 24.10 GWh for solar storage projects [2] - India's policy changes are expected to drive over 1.7 GWh of installed capacity for the year, with a requirement for 4 GW/17 GWh of electrochemical storage projects by the 2025-26 fiscal year [2] High ROE Market - In Germany, energy storage installations in August totaled 346 MWh, with a year-on-year decrease of 17.7% [3] - The UK approved new energy storage projects with a capacity of 5.04 GW and 10.49 GWh in July 2025 [3] - In the US, 1,456 MW and 4,851 MWh of new installations were added in July 2025, showing a year-on-year increase of 130% [3] Medium ROE Market - The Middle East and North Africa have confirmed energy storage projects totaling 32.1 GWh, with additional projects expected to support demand [4] - Africa's energy storage installations are projected to reach 1.64 GWh in 2024, reflecting a year-on-year increase of 945% [4] - Chile has an operational energy storage capacity of 999 MW as of early 2025 [4]