Core Viewpoint - China Energy Construction (China Energy) has achieved significant breakthroughs in the research and development of compressed air energy storage (CAES) technology, marking a major advancement from theoretical concepts to practical engineering applications [1][3]. Group 1: Technological Breakthroughs - China Energy has successfully constructed the world's largest artificial cavern gas storage test platform and has set five world records and eight pioneering achievements in gas sealing cycle tests, achieving a breakthrough pressure of 18 MPa [1]. - The artificial cavern technology is expected to expand the site selection for CAES plants and significantly reduce costs, enhancing the feasibility of large-scale energy storage solutions [4]. Group 2: Industry Context and Demand - As of June this year, the installed capacity of wind and solar power in China reached 1.673 billion kilowatts, with a peak electricity load of 1.5 billion kilowatts in July, indicating a high penetration of variable renewable energy sources [2]. - The construction of a new power system necessitates long-duration energy storage solutions, which have become essential for ensuring grid stability and enhancing the absorption capacity of renewable energy [2][3]. Group 3: Future Prospects - The National Development and Reform Commission and the National Energy Administration have identified CAES as a key technology for development, aiming to promote the engineering application of hundred-megawatt-level projects [5]. - By 2030, it is projected that China's CAES installed capacity will reach 43 GW, driven by the need for effective energy storage solutions to support renewable energy consumption and the construction of a new power system [7]. Group 4: Commercialization and Application - China Energy's CAES system solution, known as "Energy Storage No. 1," is positioned as a leading technology in the new energy storage sector, addressing challenges related to high proportions of renewable energy and energy consumption mismatches [3][6]. - Various commercialization models for CAES, including shared storage, integrated renewable energy and storage, and independent storage stations, are being explored to enhance economic viability and application scenarios [6].