Investment Rating - The report maintains a "Strong Buy" rating for the electric power equipment sector [8]. Core Insights - The global commercial and industrial (C&I) energy storage market is expected to see a growth rate exceeding 40% in 2025, with Europe leading the charge [2][3]. - The report highlights significant investment opportunities in leading C&I energy storage manufacturers such as DeYe Co., Airo Energy, GoodWe, Pylontech, and Shenghong Co. [7][58]. Summary by Sections Global Market Overview - In 2024, the global C&I energy storage capacity is projected to reach 4.4GW/10.9GWh, marking a year-on-year growth of 44.6%. By 2025, this is expected to increase to 6.1GW/15.26GWh, a 40% increase [2][14]. - Europe is anticipated to be the largest market for C&I energy storage in 2024, contributing approximately 2.6GWh, which accounts for about 24% of the global total [17][18]. European Market Dynamics - The European market is expected to add 3.6GWh of C&I energy storage in 2025, with a year-on-year growth rate exceeding 60%. Factors driving this growth include subsidies, tax incentives, and the promotion of dynamic pricing [3][23]. - The implementation of dynamic pricing is projected to enhance the internal rate of return (IRR) for C&I energy storage systems to over 15%, with payback periods reduced to 3-5 years [3][36]. U.S. Market Insights - The U.S. C&I energy storage market remains relatively small, with an expected addition of 370MWh in 2024, reflecting an 11% year-on-year growth. The NEM3.0 policy is anticipated to stimulate demand for self-consumption storage solutions [4][41]. - By 2028, the U.S. market is projected to reach 1.2GWh in new installations, driven by changes in net metering policies that favor self-consumption [41][43]. Asia, Africa, and Latin America - Frequent power outages and rising electricity prices in various Asian, African, and Latin American countries have increased the urgency for C&I energy storage solutions [5][44]. - Countries like South Africa and Nigeria are experiencing significant electricity price hikes, further driving the need for energy storage systems to ensure stable power supply [44][46]. Product Development and Market Trends - The report notes a proliferation of high-cost-performance C&I energy storage products, with major manufacturers launching competitive offerings tailored to different regional markets [6][50]. - The price of energy storage systems has significantly decreased, with competitive pricing strategies leading to increased market penetration [50][58]. Investment Recommendations - The report suggests focusing on leading C&I energy storage equipment suppliers, as the demand for energy storage solutions is expected to surge in the coming years [7][58].