Start with energy storage under big goals

Summary

GGII predicts that the global energy storage battery shipments will reach 416GWh in 2025, with a compound annual growth rate of about 72.8% in the next five years.

In exploring measures and paths for carbon peaking and carbon neutrality, the lithium battery industry, as the intersection of energy and transportation, will play a more important role.

On the one hand, the cost of lithium batteries has dropped significantly, the battery performance has been continuously improved, the scale of production capacity has continued to expand, and relevant policies have been implemented one after another, providing a reliable path for lithium batteries to enter the energy storage market on a large scale.

With the large-scale promotion of power batteries, the cost of lithium battery electrochemical energy storage has dropped rapidly. At present, the price of domestic energy storage cells is close to 0.7 yuan/Wh, and the cost of lithium battery energy storage systems has dropped to about 1.5 yuan/Wh, ushering in the energy storage economy. Sexual inflection point.

According to industry estimates, the initial cost of the energy storage system is expected to drop to 0.84 yuan/Wh by 2025, providing strong support for its full marketization.

On the other hand, the inflection point of the lithium battery energy storage market is about to reach the peak of carbon and carbon neutrality. The global market demand for energy storage in the power generation side, transmission and distribution side, user side, and base station backup power has exploded, providing a good development opportunity for lithium battery companies to enter the lithium battery energy storage market.

GGII predicts that the global energy storage battery shipments will reach 416GWh in 2025, with a compound annual growth rate of about 72.8% in the next five years.

The energy storage lithium battery market enters the fast lane

Since 2021, the global energy storage lithium battery market has experienced explosive growth. Many lithium battery companies have full energy storage orders, and products are in short supply.

In the overseas home energy storage market, Tesla announced that the cumulative installed capacity of its Powerwall home energy storage system has exceeded 250,000 units worldwide, and it is expected that its Powerwall sales will continue to grow at a rate of about 100,000 units per year in the future.

At the same time, Tesla has also won multiple orders for Megapack energy storage around the world in 2021, providing energy storage systems of up to hundreds of MWh for multiple industrial energy storage projects.

Over the past year, Tesla has deployed more than 4GWh of storage capacity (including Powerwalls, Powerpacks and Megapacks).

The explosion of demand in the global lithium battery energy storage market has also provided a number of Chinese battery companies with strong competitiveness in the field.

At present, battery companies including CATL, AVIC Lithium, BYD, Ruipu Energy, Lishen Battery, Guoxuan Hi-Tech, Yiwei Lithium Energy, Penghui Energy, Haiji New Energy, Anchi Technology, Haihong Technology and other battery companies are increasing their weight. Energy storage business sector.

On the grid side, CATL and Yiwei Lithium have successively won GWh-level orders for energy storage batteries from Powin Energy, an American energy storage system integrator. In addition, CATL has also entered the Tesla Megapack energy storage battery supply chain, which is expected to open up new growth. class.

On the user side, Chinese companies occupy two of the top 5 energy storage system providers in the world, while battery companies such as Paine Energy, Ruipu Energy, and Penghui Energy have full production capacity and full sales. Some orders are expected to be scheduled by the end of next year.

In the base station backup power, many battery companies including Zhongtian Technology, Shuangdeng Co., Ltd., Haistar, Narada Power, Topbond Co., Ltd., Yiwei Lithium Energy, Linkage Tianyi and other battery companies have won bids for many times, becoming the domestic base station backup power LFP battery field. Won the bid for “Big House”.

It is worth noting that most of the home energy storage system providers in developed regions such as Europe, America, Japan and South Korea are local companies, and the ternary batteries of LG Energy, Panasonic and Samsung SDI are the leading ones in terms of supporting batteries.

However, Chinese battery companies have specially developed LFP cells for the energy storage market to further improve the safety of their energy storage systems in response to the long-life, high safety, and low-cost requirements of energy storage batteries.

In order to further meet the growing needs of the energy storage market and enhance competitiveness, the above-mentioned battery companies are also actively expanding the production capacity of energy storage batteries. And other fields to carry out all-round layout, Nuggets trillion energy storage market.

There is an urgent need to improve the safety performance of energy storage lithium batteries

While the market demand for energy storage lithium batteries continues to grow, a series of energy storage system fire accidents have cast a shadow on the lithium battery energy storage industry and sounded a safety alarm for lithium battery companies.

Data shows that since 2017, more than 30 energy storage system fire accidents have occurred in South Korea, involving LG Energy and Samsung SDI, all of which are ternary batteries.

Among them, more than 20 fire accidents have occurred in the energy storage system of LG Energy around the world because of the risk of heat and fire in its cells.

In July last year, the 300MW/450MWh Victoria energy storage power station in Australia caught fire during the test period. The energy storage project used a total of 210 Tesla Megapacks with an energy storage capacity of 450MWh, which were also equipped with ternary batteries.

It is worth noting that it is not only the ternary battery that is at risk of fire.

In April last year, the Beijing Dahongmen energy storage power station exploded. The cause of the accident was an internal short-circuit failure of the LFP battery used in the system, causing the battery to thermally run out of control and catch fire.

The above-mentioned fire accident of the energy storage system shows that there are many companies participating in the competition in the energy storage lithium battery market, but the product quality is uneven, and the safety performance of the energy storage battery needs to be further improved.

In this regard, lithium battery enterprises need to optimize and upgrade in terms of raw material system, manufacturing process, system structure, etc., and further improve the safety of their lithium battery products by introducing new materials and adopting new processes, and enhance the comprehensive competitiveness of enterprises.