I. Industry Boom: 60% Annual Growth in Energy Storage Installations, China Leads Global Market

In 2024, global new energy storage installations reached 70.2GW/175.4GWh, a year-on-year increase of over 60%. China maintained its leading position with 102.8GWh of new installations (60% of global total), followed by the United States (38.5GWh) and Europe (19.1GWh).

Key Drivers:

• Policy Support: China eliminated mandatory storage allocation requirements, shifting toward market-oriented mechanisms; Europe's capacity auction mechanism stimulated front-of-the-meter storage growth

• Economic Breakthrough: Global Levelized Cost of Storage (LCOS) significantly decreased, with China's LCOS dropping to $0.052/kWh

• Grid Reliability Demand: Increasing renewable penetration drove demand for peak shaving, reserve capacity, and ancillary services

II. Technological Leap: Large-Capacity Cells and Intelligent Systems Become Focus of Competition

1. Cell Technology Advancement

• 300Ah+ cells became mainstream, capturing 40% of large-scale storage market share

• 500Ah+ cells entered trial production, pushing energy storage systems toward 6-7MWh capacity

2. Safety and Efficiency Innovations

• Liquid cooling exceeded 85% penetration: Intelligent temperature control + Pack-level fire protection became standard

• Grid-forming technology implementation: Enhanced grid support capabilities

3. Diversified Technology Pathways

While lithium batteries dominated 96.4% of the market, flow batteries and sodium-based batteries accelerated commercialization

III. Supply Chain Restructuring: Chinese Companies Expand Globally, Localization Accelerates

1. Global Production Capacity

Chinese companies planned nearly 700GWh of overseas cell production capacity, with Europe (50%), United States (20%), and Southeast Asia (20%) as key focus regions

2. Cost and Trade Challenges

• Lithium carbonate prices fell to $10,450/MT, driving cell prices down to $0.038/W

• US reciprocal tariffs increased Chinese energy storage product tariffs to 48.4%

3. Market Consolidation

Global energy storage system CR5 reached 70.9%, with Homsun and other companies reducing costs by 25% through Pearl River Delta supply chain advantages

IV. 2030 Outlook: Solar-Storage-Wind Collaboration Advances Toward Terawatt-hour Storage Era

• Solar: Cumulative installations to exceed 6.4TW by 2030, with LCOE dropping to $17.5-29/MWh

• Energy Storage: Global cumulative capacity to break through 1,000GWh, with LCOS decreasing by another 40%

Critical Actions:

• Grid Modernization: Addressing integration bottlenecks affecting 70% of global markets

• Business Model Innovation: Virtual power plants and shared storage to improve asset utilization

• Policy Coordination: Stabilizing subsidies and electricity pricing mechanisms