Global energy storage enters a period of rapid development

In recent years, in order to cope with climate change and realize energy transition, many countries have vigorously developed renewable energy. Compared with traditional fossil energy, renewable energy power generation generally has problems of intermittency and volatility, which need to be adjusted by energy storage technology. The development of energy storage has become an important part of energy transformation in various countries.


Globally, the energy storage market is growing at an unprecedented rate. According to incomplete statistics, by the end of 2021, the cumulative installed capacity of energy storage projects in operation around the world was about 209.4 gigawatts (GW), an increase of 9% compared with the same period in 2020. China has also achieved rapid growth in installed energy storage capacity. As of 2021, my country's cumulative installed capacity of energy storage projects has reached 46 gigawatts (GW). According to the International Energy Agency, global installed energy storage capacity is expected to grow by 56% over the next five years, reaching more than 270 gigawatts (GW) by 2026.


The energy storage industry has entered the stage of large-scale development from the initial stage of commercialization. On the one hand, with technological progress and capacity expansion, the power generation cost of wind power and photovoltaics and the manufacturing cost of lithium-ion batteries have dropped significantly in recent years. Can't move fast in the direction of parity. On the other hand, after preliminary exploration and practice, the positioning and business model of energy storage have become increasingly clear. At present, the market-oriented development mechanism of energy storage in developed regions such as the United States and Europe has basically been established, and the power system reform in emerging markets has continued to accelerate. The conditions for the large-scale development of the energy storage industry are ripe.


Although the development of energy storage has gradually entered the fast lane, the safety of energy storage cannot be ignored. At the beginning of this year, the fire in the battery energy storage building of SK Energy Company in South Korea once again sounded the alarm bell for the market. According to incomplete statistics, from 2011 to September 2021, there have been more than 50 energy storage safety accidents in the world, and the energy storage safety problem has become a common problem faced by the world.


To overcome the current security risks, more efforts must be made in security precautions. The main responsibility of energy storage safety should be clearly defined. Carry out research on fire prevention and control and disposal at the energy storage battery system level from top to bottom, form a safety application scheme that can be accepted by the market, and issue relevant safety standards and specifications to effectively reduce system application safety risks and ensure environmental protection and reliability. At the same time, establish a standard system for the application of energy storage technology. In order to ensure the high-quality and reliable application of the project, an energy storage technology standard system should be established in various application fields to avoid the occurrence of low-price and low-quality competition interfering with the normal order of the market, and a payment compensation mechanism should be designed according to the application effect. Only by promoting the development of energy storage in a safer direction can we create a sustainable new energy industry ecology and achieve high-quality development of the new energy industry.


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