The Energy Storage Market Is Expanding Rapidly

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Electrochemical energy storage is dominated by lithium-ion batteries, which is the energy storage technology with the widest range of applications and the greatest potential for development. Regardless of whether it is the stock market or the new market, lithium batteries have occupied a monopoly position in electrochemical energy storage. Globally, from 2015 to 2019, benefiting from the rapid development of lithium batteries, the proportion of lithium-ion battery energy storage in the domestic market rose from 66% to 80.62%.

From the perspective of technical distribution, among the new electrochemical energy storage projects in the world, the installed capacity of lithium-ion batteries accounted for the largest proportion of 88%; domestic lithium battery energy storage achieved 619.5MW of new installed capacity throughout the year in 2019, an increase of 16.27% against the trend In the new market, the installed penetration rate of lithium batteries rose from 78.02% in 2018 to 97.27%.

At present, lithium-ion batteries and lead-acid batteries are the main technical routes for electrochemical energy storage, and the main performance of lithium-ion batteries is better than that of lead-acid batteries, and will gradually replace lead-acid batteries in the future, and the market share is expected to continue to increase.

Compared with traditional lead-acid batteries, lithium batteries have three major advantages: (1) The energy density of lithium-ion batteries is 4 times that of lead-acid batteries, and the capacity and weight are better than those of lead-acid batteries; (2) Li-ion batteries are more environmentally friendly, and lithium-ion batteries are more environmentally friendly. The battery does not contain harmful elements such as mercury, lead, and cadmium. It is a real green battery. In addition, lithium-ion batteries are more energy-efficient and have higher energy conversion efficiency than lead batteries. The policy risk is smaller than that of lead batteries; (3) Lithium-ion has a longer cycle life. At present, the life of lithium-ion batteries is generally three to four times that of lead-acid batteries. Although the initial cost is higher, it is more economical in the long run.

In the long-term, “photovoltaic + energy storage” comprehensive electricity cost parity is the ultimate goal of realizing photovoltaics as a new generation of energy for mankind in the next 100 years. Economics has become the main driving force driving demand growth.


Post time: Oct-26-2021