Offshore wind projects may become the new growth in the China ESS market

On November 21, China's first household distributed photovoltaic energy storage project land in Dezhou, Shandong, this project is the first case of the household distributed photovoltaic supporting energy storage integration development in China, the battery using LFP energy storage system with scale 2MW/4.3MWh, the construction of 20 sets of 100kw/215kwh energy storage silo, adopting the LFP energy storage system. The charge and discharge capacity will reach 1.8 million KWH, which is expected to meet the electricity demand of 1,000 households for a year; On 24th of Nov, Beijing Lvfan's Vstorage-MW all-vanadium flow battery energy storage system officially entered into the market. The system is the first set of MW-level energy storage module products equipped with the maximum power of 100kW single reactor in China, and the energy efficiency can reach 85%. This week, the financing activities in primary market is still hot, according to the Dadong Times(TD) statistics, 7 energy storage related enterprises have been financed, of which 2 are industrial and commercial energy storage enterprises; Eight energy storage projects started to construct or were connected to the grid, and industrial and commercial energy storage was more active. Six industrial projects were signed or started; With the advent of the era of large storage and large capacity cells, Hithium and Great Power announced their new products. Didubattery industrial and commercial energy storage equipment enter into market.


The price of the energy storage system has rebounded, the minimum price of the battery cell has approached the cost of the product, and the system price is still in a state of loss

This week, the price of energy storage system projects rose 57.75%, reaching 1.12 yuan /Wh range, which has rebounded. According to the survey results of Dadong Times (TD), the average price of the cell is 0.52 yuan /Wh, down by 0.016 yuan /Wh compared to last week; As of November 24, the average price of 1h, 2h and 4h time energy storage system equipment was 1.01 yuan /Wh, 0.83 yuan /Wh and 0.77 yuan /Wh. The rapid decline in costs has further stimulated the energy storage market, and new companies have entered into the energy storage field. Many conglomerates lack core technology, rely on low-cost production, product have safety and reliability problem, some small and medium-sized enterprises offer price even lower than cost, "price war" will further increase concerns about the quality and safety of energy storage products.


The integration of "PV-energy storage and charging" has ushered in new opportunities, and energy storage such as offshore wind power projects may become a new growth of energy storage scale

The statistical results of the Dadong Times (TD) show that the total size of the bidding project this week is 2790.15MWh, up 107.26% from last week's bidding scale. In the policy area, the National Energy Administration issued a New Deal this week, mainly involving the optimization of new energy storage power station scheduling methods, reasonable invocation of new energy storage regulation resources, and promotion of new energy storage grid connection and scheduling. In the long-term, actively supporting the development of renewable energy + energy storage, aggregated energy storage, and PV-energy storage and charging integration models will give full play to the value of various types of energy storage. From the Ministry of Natural Resources November regular press conference held on November 20, it was learned that in the first three quarters, China's new offshore wind power grid connected capacity and power generation increased by 14.8% and 19.2%, respectively, and the scale of offshore wind power projects under construction and newly started was about 19.4 million kilowatts, an increase of about 2 million kilowatts over the same period last year. In the fourth quarter, renewable energy storage such as offshore wind power projects may become a new growth of energy storage scale.


The cell price war is fierce, and the development trend of low-cost, high-safety, large-scale and long-life energy storage technology is obvious

In this week's energy storage projects, the highest market share of energy storage batteries is CATL, accounting for 77%. Energy storage cells continue to the trend of weakness, and it may fall further. Compared with other manufacturing industries, the energy storage battery in the industry upstream, lithium salt, electrolyte and diaphragm link profit margin is still high, according to the Dadong Times(TD) research results show that after the cell material cost adjustment, cell price fell from 0.5 yuan /Wh to 0.4 yuan /Wh, or even 0.3 yuan /Wh. Therefore, a new round of battery price war will intensify in the fourth quarter. At present, the mainstream energy storage technology, lithium iron battery, flow battery, compression battery, have achieved 100 MW level applications, the future high proportion of renewable energy penetration scenario, long-term energy storage technology, including multi-day, cross-seasonal long-term energy storage technology demand is expected to increase.



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