According to the statistics of the U.S. Energy Information Administration (EIA), by the end of 2022, there are 9 large storage projects planned to land in 2023 in the United States. Third-party estimates show that the new installed capacity of large storage in the United States is expected to reach 25.2G Wh in 2023. Year-on-year growth 142.
The European market has always been dominated by household energy storage, but vertically, its large storage is also in volume. The European Energy Storage Association (EASE) predicts that the newly installed capacity of large storage in Europe will reach 3.7 GW in 2023, an increase of 95% over the same period last year, with Britain, Italy, France, Germany, Ireland and Sweden as the main installed markets; It is expected that Spain, Germany, Greece and other markets will accelerate the release of large storage demand in 2024 with the support of policies, which will promote the new installed capacity in Europe to reach 5 in 2024. Considering the stability of energy, the EU is actively expanding energy storage while expanding the installed capacity of new energy such as wind and solar energy.
Faced with the rapid expansion of the market, energy storage integration giants are trying to seize a larger market share without exception. The size of production capacity and the strength of supply chain, to some extent, mean size of market share. In order to reserve enough ammunition, they threw olive branches to Chinese battery manufacturers with strong product performance and stable production capacity. For battery manufacturers, the overseas market with higher profits is very attractive when the domestic market has already opened a low-cost internal volume. It can be said that this is a two-way rush between the two. The
winner will be strong, and the advantage
of certainty is that the two-way rush of overseas energy storage integration giants and Chinese energy storage batteries will reach a new peak in 2023.
Take Fluence as an example, in its latest earnings report, it announced the signing of an energy storage battery purchase agreement with Vision Power (AESC). Vision Power is expected to start supplying Fluence with energy storage battery products from its manufacturing base in the United States in 2024.
Fluence is one of the largest battery energy storage system integrators in the world. It was jointly established by industry giant SIEMENS and energy storage pioneer AES in 2018. As of 2023, Fluence's customer experience covers more than 225 projects in 47 regions, with more than 7 GWh of completed projects. Powin,
another head energy storage system integrator, is also actively expanding its cooperation with China's energy storage batteries. Following the previous cooperation with Ningde Times and Vision Power, it has signed new large orders with Haichen Energy Storage and Yiwei Lithium Energy in the past six months.
According to visible incomplete statistics, since this year, many energy storage system integrators, including Fluence and Powin, have signed orders with domestic battery manufacturers in China on a scale of more than 117 GWh.
LiFePO4 technology route is an important part of the advantage.". Compared with power batteries, energy storage is more extreme in the pursuit of economy and safety, especially large storage. Domestic battery manufacturers have created greater possibilities for the economy and safety of energy storage in terms of technical route selection and production capacity.
Ternary lithium batteries have dominated the overseas energy storage market, such as Panasonic batteries, LG new energy, SK On and other ternary lithium batteries used in many energy storage projects in the United States. However, in recent years, there have been many energy storage fires caused by ternary lithium batteries overseas, such as many safety accidents in the energy storage market by Korean energy storage/battery companies represented by LG, which have seriously undermined the confidence of the large storage market in ternary lithium batteries. Lithium iron
phosphate battery (LFP) has the advantages of high cost performance, high safety and long cycle. As the large storage market pays more and more attention to economies of scale and promotes the demand for battery capacity and scale, global energy storage head integrators are rapidly turning to lithium iron phosphate batteries for battery technology routes.
Therefore, it is not only the passenger car market that has witnessed the reversal of the market share of the lithium iron phosphate route to the ternary lithium route, but also the lithium iron phosphate route has become the absolute mainstream of the energy storage market at a faster speed.
At present, among the battery manufacturers in China, Japan and South Korea, Japan and South Korea are seriously lagging behind in the technical route of lithium iron phosphate, while the material innovation and structural innovation of domestic battery manufacturers around lithium iron phosphate are more prominent.
In addition, the battery is a typical manufacturing industry with obvious scale effect. China's huge production capacity has created a stronger cost advantage. At present, China produces 70% of the world's lithium batteries, nearly 80% of the battery cathode materials and nearly 90% of the anode materials.
In order to reduce the systematic cost of energy storage, battery manufacturers in China are constantly seeking breakthroughs in the two indicators of battery capacity and cycle life. At present, domestic mainstream manufacturers have launched 300 + Ah batteries to improve the unit efficiency of energy storage batteries while pursuing the continuous improvement of safety and cycle life. At ESIE2023 in April this year, Vision Power said that with its benefit advantage, its large-capacity energy storage core represented by 305Ah was welcomed by overseas energy storage customers. In the first half of
this year, Zhengli Xinneng released 314 Ah energy storage battery, Vision Power released 315Ah special energy storage battery, Haichen Energy Storage released 320Ah energy storage battery, and Honeycomb Energy released 325Ah energy storage battery (Note: not the current common 71 * 173 specification). Soon, the market will usher in the large-scale industrial application of 310Ah + energy storage large-capacity batteries, which will also affect global energy storage customers.
With a view to the future, real
challenges and opportunities often coexist. From the
external environment, carbon neutrality continues to advance globally, creating a huge market space. China, the United States and Europe play a leading role, while countries with weak energy and power base, including Southeast Asia and South Africa, also focus more on renewable energy construction represented by scenery in the incremental market. From the perspective of
industry environment, highly concentrated industries will inevitably bring about highly involuted market competition. Competition in the domestic battery industry is particularly fierce, especially in the field of energy storage, in addition to the power battery giants, there is a steady stream of new players.
For Chinese battery manufacturers, going to sea has become an inevitable choice for the development of domestic battery enterprises, but landing is far from easy. The overseas market is the real training ground.
To expand overseas markets, first of all, we should make clear the competitiveness of enterprises themselves. Low prices can win the present, but not necessarily the future. It is generally believed
in the industry that although China is the largest energy storage market in the world, it is dominated by large storage. However, mainly driven by the previous policy of compulsory distribution and storage of new energy, the mechanism of the electricity market is not perfect, and the energy storage facilities that are really put into operation are limited, mostly in the situation of "basking in the sun". Therefore, "low price" becomes the priority and the consideration before "performance", which makes the price war of domestic large storage more intense and the quality difficult to guarantee. The electricity market in
overseas areas is relatively perfect, and the energy storage system can really participate in electricity trading. The performance, efficiency, thermal management and scheme design of battery or energy storage system will directly affect the return of investment. Therefore, the international energy storage system integration giant is very cautious about the choice of battery suppliers. Therefore, Fluence, Powin and other energy storage integration manufacturers are more focused on Ningde Times, Vision Power and other first-line manufacturers.
To expand overseas markets, there is also a higher level of test for enterprises, that is, how to deal with geopolitical risks and increasingly high green barriers. The IRA in the United States and the New Battery Act in Europe, based on the global consensus on double carbon, intend to support the local battery industry and restrict the entry of imported batteries into the local market by restricting batteries that do not conform to the carbon footprint or strengthening the local supply chain with low carbon footprint.
Ningde Times and Vision Power are also the first enterprises to practice carbon neutrality in China. Ningde Times announced in August this year that it would promote the carbon neutral operation certification of energy storage battery factories. In the first half of this year, Vision Power announced that it had achieved carbon neutrality in global operation in 2022, and simultaneously launched the first batch of "carbon neutral energy storage batteries" in the world, which were also certified by the international authoritative certification body T TU V Nande as "carbon neutral certification (PAS 2060)".
Localized production capacity or building a global supply chain is also an unavoidable proposition for domestic battery manufacturers. While providing subsidies for new energy sources such as energy storage, IRA has further improved its rules, stipulating that certain conditions must be met before it can be counted as manufactured in the United States and enjoy tax credits. In order to obtain subsidy dividends and avoid handing over the huge U.S. market to Japanese and Korean enterprises, Chinese battery manufacturers also need to meet the requirements of local manufacturing or trade supply chains. In
order to succeed in overseas markets, energy storage enterprises need to constantly innovate technology, adapt to the market, and meet the requirements of local manufacturing and carbon barriers in the future. It will be a long and all-round battle.
At present, domestic lithium power overcapacity and "roll" to sea have become the consensus of all parties. Whether in the power battery or energy storage battery market, the advantages of Chinese battery companies in the world are beyond doubt, but looking to the future, the challenges can not be ignored. In addition to actively integrating into the world and fully competing, we have no choice but to expand the advantages of certainty, seize technological innovation, and seize the industrial landing will be the way to achieve win-win and sustainable development.
 announced the new ITC policy. The policy stipulates that the ITC tax credit will be extended for 10 years and the credit ratio will be increased to 30% -70%, and for the first time, independent energy storage will be included in the subsidy, which will significantly increase the yield of energy storage projects. </p><p style=)
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