/r/EnergyStorage

Photograph via snooOG

A reddit focused on the storage of energy for later use. This includes things like batteries, capacitors, super-capacitors, flywheels, air compression, oil compression, mechanical compression, fuel tanks, pumped hydro, thermal storage, electrical storage, chemical storage, thermal storage, etc., but also broadens out to utilizing 'more-traditional' energy mediums... where their focus is on their energy storage potential for later use, including even using 'the grid' for storage.


The Energy Storage Reddit

Energy storage is accomplished by devices or physical media that store energy to perform useful operation at a later time. A device that stores energy is sometimes called an accumulator.

All forms of energy are either potential energy (e.g. Chemical, gravitational, electrical energy, etc.) or kinetic energy (e.g. thermal energy). A wind-up clock stores potential energy (in this case mechanical, in the spring tension), a battery stores readily convertible chemical energy to operate a mobile phone, and a hydroelectric dam stores energy in a reservoir as gravitational potential energy. Ice storage tanks store ice (thermal energy) at night to meet peak demand for cooling. Fossil fuels such as coal and gasoline store ancient energy derived from sunlight by organisms that later died, became buried and over time were then converted into these fuels. Even food (which is made by the same process as fossil fuels) is a form of energy stored in chemical form.


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/r/EnergyStorage

8,961 Subscribers

5

Where is the storage revolution?

4 Comments
2024/05/20
00:38 UTC

2

EcoFlow RIVER 2 Pro battery review. Free yourself from limitations!

0 Comments
2024/05/16
14:05 UTC

2

Four Keywords Shaping the New Energy Storage Industry in 2024

Amidst the pursuit of dual carbon targets, there's a heightened focus on advancing new energy storage technologies. Lithium-ion, compressed air, and other storage methods are poised for significant development, indicating a promising future for the electrochemical energy storage industry. This sector is anticipated to experience rapid growth in the coming years.

Keyword: Competition
In 2023, new energy storage practitioners experienced intense competition as the prevailing sentiment. The pressing issue of involution spurred ongoing technological advancements and reduced prices of energy storage systems. TrendForce data indicates that the overall trend for energy storage system (ESS) prices is a continued decline in 2024. Specifically, the bidding prices for ESS in March 2024 are expected to vary based on different energy storage durations.

Winning prices for ESS in March

https://preview.redd.it/rmyti3qerj0d1.png?width=945&format=png&auto=webp&s=a929571f836a6e87e51029d0d9ab81f32d92ee85

The cost reduction in the new energy storage process has surpassed industry expectations, along with the rapid pace of development. In March 2022, the National Development and Reform Commission and the National Energy Board introduced the implementation program for new energy storage development under the 14th Five-Year Plan. By 2025, new energy storage is projected to transition from the early stages to a burgeoning phase of commercialization. Furthermore, during this period, new energy storage systems are anticipated to meet the conditions for large-scale commercial applications, with costs expected to decrease by over 30%.
In less than two years, the new energy storage industry has surpassed its cost reduction targets. Yue Fen noted that in 2023, Chinese companies' shipments of energy storage batteries (excluding those for base stations and data centers) reached an estimated 185 GWh, falling short of initial projections for the year. She also mentioned that various factors have led to an industry-wide average capacity utilization rate of only about 50%, resulting in slowed shipments in the latter half of the year. With rapid capacity expansion and heightened competition in the sector, companies lacking capital and sufficient technological expertise will face increasing pressure.

Keyword: Innovation
Despite facing challenges, participants in the new energy storage sector remain optimistic about future development prospects. A fresh round of competition has ignited in the energy storage market, with various companies intensifying research and development efforts on high-capacity, long-life, and low-cost batteries. Cost reduction and efficiency enhancement have emerged as primary focuses for product advancement, especially within the power generation segment, which dominates the energy storage market share in China. Consequently, expanding the capacity of energy storage products has become the prevailing choice for enterprises aiming to achieve cost reduction.
Currently, storage battery capacities upgrade rapidly, with the mainstream capacity being 280Ah, and there are many other capacity such as 300Ah, 560Ah, 700Ah, and 1130Ah. Additionally, leveraging high-capacity battery cells, leading industry enterprises such as Trina Solar, CRRC Zhuzhou Institute, and CATL are pioneering advancements in single-cabin energy storage compartments to bolster solar power. These efforts have culminated in the introduction of a 20-foot single-cabin 5MWh energy storage system program, igniting a surge in standalone capacity expansion within the energy storage sector.
Furthermore, manufacturers are continually unveiling new 5MWh+ energy storage systems, catering to diverse customer needs with unique solutions.

Keyword: Breakthrough
Breakthroughs are crucial to addressing the prevalent challenge of installations outpacing applications in the downstream sector. Jiang Weiliang, Vice President of Yotai Energy, highlighted that the underutilization of Energy Storage Systems (ESS) stems from a lack of established market mechanisms and unclear profit models. Numerous drawbacks, including scheduling issues, equipment variations, and commissioning challenges, plague energy storage projects. While project bidding winners often make lofty promises, actual implementation falls short, resulting in relatively low utilization rates for energy storage projects. Finding solutions to these hurdles is paramount for driving widespread adoption and maximizing the potential of ES

Keyword: Profits
In the transition towards a new power system centered around renewable energy sources, effective utilization of energy storage is essential alongside its proper implementation.
Chen Jianfu, Co-President of Guangdong New Energy Storage National Research Institute Co., Ltd., emphasizes the challenges faced by large-scale integrated energy storage systems, particularly in terms of grid functionality. To address this, he suggests a comprehensive study of energy storage application scenarios and an analysis of each scenario's specific demands.
Furthermore, the increasing demand for energy storage is expected to drive improvements in policies and market regulations. In a significant development, in September 2023, the National Development and Reform Commission (NDRC) and the National Energy Administration (NEA) issued China's inaugural basic rules for the electricity spot market (trial). These rules explicitly permit new entities such as energy storage systems and virtual power plants to engage in transactions.
With the rapid expansion of the power market and widening peak-to-valley price differentials, energy storage systems are poised to play a pivotal role in transactions within the power spot market and auxiliary services market. This involvement presents opportunities for energy storage to generate profits through transactions.
Analyzing power prices in January reveals significant disparities between peak and valley rates, with the highest gaps exceeding 0.7 yuan/kWh across 19 regions. Notably, Guangdong, Jiangsu, and Hubei provinces lead with peak-to-valley differentials reaching 1.3053 yuan/kWh, 1.1414 yuan/kWh, and 1.0693 yuan/kWh, respectively. These figures underscore the increasingly substantial revenue potential for new energy storage solutions.
As the power industry marches towards the future, energy storage emerges as an indispensable asset. With the widespread integration of renewable energy sources into the grid, coupled with the imperative for peak shaving, frequency regulation, and microgrid development, energy storage assumes a pivotal role in the power system of tomorrow. In 2024, the new energy storage sector is poised to maintain its rapid growth trajectory in response to these evolving demands.

0 Comments
2024/05/15
08:00 UTC

4

Global Trends Analysis of Residential Energy Storage Industry Based on the Development of Overseas Companies and U.S. Market Sees Swifter Rebound in Demand Compared to Europe

With the rapid development of residential energy storage in Europe, it has emerged as a key player in the realm of energy transformation. On one hand, the imperative of transitioning to renewable energy sources is undeniable. On the other hand, certain regions grapple with weak grid infrastructure, intensifying the demand for localized residential storage solutions. As the industry matures, accompanied by declining raw material costs, the prices of residential storage systems are starting to decline. Simultaneously, the burgeoning demand for Energy Storage Systems (ESS) suggests ample room for further market penetration.

Moreover, residential energy storage products primarily cater to consumers (To C), necessitating a competitive edge in product quality, brand recognition, and distribution channels to ensure sustained profitability.

In 2022, the energy storage industry witnessed a meteoric rise, evolving from its nascent stages. By 2023, however, demand tapered off amidst shifting policies and inventory dynamics. Now, in 2024, the trajectory of the residential energy storage sector is poised to be influenced by a multitude of factors, including sustained policy support, product innovation, channel optimization, dwindling inventory levels, and declining interest rates. The forthcoming discussion will delve into the anticipated future of the industry, drawing insights from the experiences of international energy storage enterprises.

SolarEdge:

SolarEdge dominates the European market, offering cost-effective products that pose a challenge for our enterprises to match. Renowned as a top player in solar and storage inverters across Europe and the United States, SolarEdge boasts a market share that reigns supreme in both regions.

Established in Delaware in 2006, SolarEdge experienced rapid growth through strategic collaborations, notably with Tesla SolarCity from 2013 to 2015, culminating in its NASDAQ listing in 2015. The 2017 mandate by the United States NEC requiring solar PV systems to integrate Module Level Power Electronics (MLPE) with rapid shutdown functionality played to SolarEdge's strengths, enabling the company to swiftly expand its market share.

According to data from Wood Mackenzie, SolarEdge secured the 7th position in global inverter shipments in 2022, firmly establishing its dominance in European and American markets.

SolarEdge's product portfolio encompasses a diverse range of offerings, including solar and storage inverters, energy storage systems, uninterruptible power supplies, electric vehicle charging stations, and integrated solar and energy storage solutions. These solutions cater to various sectors, spanning from residential and commercial to utility-scale ground-mounted power installations.

In 2023, SolarEdge introduced the SolarEdge One software, marking a significant expansion into the realm of virtual power plants. Through sophisticated algorithms, this software facilitates new energy power trading, empowering customers with advanced solar and energy storage solutions. By bridging the gap between software and hardware, SolarEdge continues to bolster its product ecosystem, solidifying its position as a leading provider of comprehensive new energy solutions.

With a strong focus on customer collaboration, technological mastery, and leveraging the benefits of U.S. trade policies, SolarEdge has consistently excelled.

The first phase, starting in 2013, saw SolarEdge achieve rapid revenue growth through strategic partnerships, notably with Tesla SolarCity. During this period, the company experienced a remarkable compound annual growth rate of 83.7% from 2013 to 2016.

In 2017, the introduction of stringent safety regulations by the U.S. NEC mandated the use of Module Level Power Electronics (MLPE) with rapid shutdown capabilities in PV systems, rendering traditional string inverters obsolete for residential energy storage solutions. SolarEdge, with its mastery of the requisite technology, swiftly capitalized on this shift, rapidly expanding its market share and witnessing substantial revenue growth in 2018 and 2019.

The third phase unfolded in 2018 with the imposition of 10% tariffs on Chinese PV inverters under U.S. trade policies. SolarEdge benefited from these trade barriers. Subsequently, in May 2019, tariffs were increased to 25%, prompting Huawei's withdrawal from the U.S. inverter market. Despite the overall growth of the new energy industry, SolarEdge experienced a revenue decline in 2023, attributed to the industry-wide destocking process.

Reports indicate that market demand in Europe and the U.S. was disrupted by high interest rates and policy uncertainties. In 2023, SolarEdge's revenue from its inverter, optimizer, and backup battery businesses reached $1.37 billion, $900 million, and $380 million respectively. This represented a 20.8% increase, a 20.5% decline, and an 11.8% decrease from the previous year. Furthermore, sales figures stood at 1.013 million sets, 17.4 million sets, and 744 MWh, marking declines of 0.8%, 26.6%, and 2.2% respectively compared to the previous year. The unit prices were recorded at USD 1,356 per set, USD 52 per set, and USD 0.51 per kWh respectively.

The substantial decline in optimizer sales can be attributed to the superiority of micro-inverter solutions over optimizer and string solutions in meeting the stringent MLPE requirements set forth by the NEC for rapid shutdown functionality.

In 2023, the company's photovoltaic business revenue in the European and U.S. markets amounted to $1.81 billion and $760 million, respectively. This represented a 15.8% increase in Europe but a significant 35.9% decline in the U.S. compared to the previous year. While the beginning of 2023 saw some relief in the industrial chain situation, the European market initially experienced rapid growth despite a slowdown. However, the latter half of the year was marred by high interest rates and policy uncertainties in countries such as the Netherlands, Belgium, and Italy, resulting in a substantial contraction in market demand. Although the company's revenue from the European market maintained modest growth, the growth rate declined by 55% compared to the previous month. Similar trends were observed in the U.S. market, exacerbated by the transition of California's NEM 2.0 policy to 3.0, which created a vacuum in the demand for distributed PV storage.

In 2023, the European and American market demand was significantly affected by uncertain policies, with expectations for gradual recovery in 2024. Throughout the year, power optimizer shipments fluctuated, reaching 6.4 million, 5.5 million, 3.3 million, and 2.2 million sets from Q1 to Q4 respectively. Inverter shipments followed a similar pattern, with 330000, 335000, 274000 and 74000 units shipped during the same period. Energy storage battery pack shipments also varied, with 221 MWh, 269 MWh, 121 MWh, and 133 MWh recorded from Q1 to Q4 respectively. However, in the latter half of 2023, impacted by lower demand and high inventory, SolarEdge's shipments experienced a sharp decline compared to the previous month.

Looking ahead to 2024, several developments are anticipated in the following regions:

  1. Germany: Expectations are that certain tariff caps will be lifted in 2024, resulting in higher electricity prices in the country. Consequently, the return on investment (ROI) for photovoltaic (PV) installations is projected to increase, fueling continued growth in residential PV installations.
  2. Austria: It is anticipated that the value-added tax (VAT) on PV power generation, introduced at the beginning of 2024, will be repealed.
  3. Netherlands: The uncertainty stemming from the 2023 election and the changing net metering policy led to a sharp decline in PV installations in Q4. Recent decisions by the Dutch Senate indicate a potential sustainability of net metering, prompting optimistic market responses in the future.

Enphase:

Anticipated shifts in demand are on the horizon as the second quarter of 2024 draws to a close.

Enphase stands as the undisputed global leader in microinverters, spearheading advancements in solar, energy storage, and charging solutions. Founded in 2006 in Delaware, Enphase revolutionized the market by introducing the world's first microinverter, the M175. In 2011, Enphase embarked on a global expansion strategy, penetrating the MLPE market in Europe, Australia, and other regions, culminating in its listing on the NASDAQ in 2012.

Leveraging its pioneering status in the MLPE sector, Enphase has continually enhanced its microinverter products, elevating power output from 175W in the first generation to 550W in the eighth generation. The latest iteration of inverters boasts additional features such as split-phase grid connection and off-grid capability. As a result, Enphase commands a market share exceeding 70%, firmly establishing itself as the industry leader.

Building on its expertise in microinverter technology, Enphase embarked on a series of strategic mergers and acquisitions, consolidating businesses in energy storage, electric vehicle charging infrastructure, and cloud services to develop comprehensive solar and storage solutions for households.

In 2016, Enphase introduced its inaugural residential storage product, marking its entry into the energy storage sector. By the close of 2020, the company unveiled the IQ Battery residential storage system, expanding its product portfolio to encompass residential energy storage solutions. Enphase IQ Batteries operate on low-voltage DC power, mitigating the risks associated with high-voltage DC power and enhancing system safety and efficiency.

In 2021, Enphase ventured into the electric vehicle charging infrastructure market with the acquisition of ClipperCreek. The following year, the acquisition of GreenCom positioned Enphase as a leading provider of home solar, energy storage, and charging system solutions, bolstering its offering with Internet of Things (IoT) solutions.

Thanks to favorable policies, expanded channels, and enhanced product competitiveness, Enphase has experienced rapid revenue growth since 2019.

On one hand, Enphase has reaped the benefits of supportive policies such as the NEC 2017 mandate requiring residential PV systems to integrate Module Level Power Electronics (MLPE), driving demand for the company's microinverters. Additionally, the 301 tariff prompted Huawei's exit from the U.S. inverter market in 2019. Furthermore, the IRC's gradual reduction of the Investment Tax Credit (ITC) subsidy from 2019 onward stimulated PV market growth. The introduction of the IRA in 2022, alongside the extension of the Advanced Manufacturing Production Tax Credit (AMPTC) and Advanced Energy Project Investment Tax Credit (AEPITC) subsidies, has had a significant impact. These subsidies, extended to 2032 and 2030 respectively, have bolstered Enphase's microinverter production.

In terms of channel expansion, Enphase's acquisition of SunPower's subsidiary in 2018 solidified its position as the exclusive supplier. Moreover, strategic partnerships with Sunrun, LG, Panasonic, Solaria, and GRID Alternatives have further expanded its reach and market presence.

Regarding product development, Enphase has concentrated on promoting its IQ 7 and IQ 8 series microinverters since 2019. With conversion efficiencies of up to 97.5%, these inverters cater to a broader range of solar panel installations. Additionally, the higher power range of Enphase's inverters ensures compatibility with solar panels in various regions, while the company's commitment to efficient after-sales service has reduced average waiting times to less than one minute.

By the latter half of 2023, Enphase faced increased pressure in both the US and European markets due to weakened demand for energy storage and high inventory levels.

In the US market, the transition to NEM 3.0 and elevated interest rates dampened investor confidence in residential solar storage investments. As per the company's investor communications, revenue from the US market dropped by 16% and 35% in the third and fourth quarters of 2023 respectively, compared to the previous quarters. Notably, the California market experienced a sharper decline, with Enphase's microinverter sales falling by 25% and 27% in Q3 and Q4 respectively, while non-California markets remained relatively stable.

In Europe, the anticipated demand recovery in the latter half of 2023 fell short of expectations, exacerbating distributor inventory backlogs. Enphase's top three European markets—Netherlands, France, and Germany—faced distinct challenges. The Netherlands saw hesitancy among users awaiting the removal of the net metering program, while seasonality impacted the French market, and the German market grappled with feed-in tariff reductions. Consequently, market demand and shipments related to residential PV in major European countries all experienced declines.

According to Enphase's investor communication disclosures, microinverter shipments in 2023 were as follows: 4.8 million units in Q1, 5.2 million units in Q2, 3.9 million units in Q3, and 1.6 million units in Q4. Additionally, battery shipments totaled 102.0 MWh, 82.3 MWh, 86.0 MWh, and 80.7 MWh from Q1 to Q4 in 2023 respectively. However, in the latter half of 2023, microinverter shipments experienced a sharp decline due to weak demand and inventory accumulation. Enphase estimates that channel inventory will normalize by the end of Q2 in 2024, with shipments expected to increase again in Q3. Conversely, battery sales, buoyed by NEM 3.0, continue to rise.

Currently, the European market shows signs of recovery, while the California market is anticipated to gradually improve. The Dutch parliament recently confirmed that net metering policy will remain unchanged in the short term, and electricity costs have increased in France and Germany. Consequently, it is expected that the company's business will reach its nadir in the first quarter of 2024. In the United States, non-California markets are poised for swift recovery after interest rate fluctuations. However, the California market's recovery may take several quarters due to the transition from NEM 2.0 to NEM 3.0. Nevertheless, given the high electricity costs, the integration of solar and energy storage offers a higher return on investment under NEM 3.0, leading to a gradual recovery in market demand.

0 Comments
2024/05/15
07:54 UTC

2

Rising Popularity: Unveiling the Growing Appeal of the Energy Storage Industrial Chain

In 2023, amidst a fierce price war among suppliers and a fragmented competitive landscape, the domestic energy storage companies find themselves heavily reliant on mandatory policy installations. Concerns about future development loom large among market participants, prompting a swift pivot towards overseas expansion.

But why the sudden surge in interest in foreign markets? The answer lies in the fact that domestic companies are encountering developmental roadblocks, compelling leading manufacturers to prioritize expansion abroad. In this article, TrendForce will delve into the challenges and opportunities facing China's energy storage industry as it ventures into the lucrative U.S. market, shedding light on the strategies and hurdles involved in this global endeavor.

Lithium-battery Industrial Chain Highlights in China

China stands out in the global lithium-ion battery supply chain, boasting distinct advantages. From cathodes and anodes to electrolytes, diaphragms, and batteries, China boasts a comprehensive industry chain for lithium-ion batteries.

Conversely, the United States grapples with insufficient local battery supply, relying heavily on the global supply chain to meet its energy storage system needs over the long term. As local demand surges, the United States has emerged as a primary destination for battery manufacturers to export their products.

Since the IRA Act came into effect, storage battery companies worldwide have ramped up their efforts to build new battery capacity in the United States. However, Japanese and Korean companies predominantly focus on producing ternary batteries. Many of their lithium-ion battery plants in the U.S., either under construction or already operational, specialize in ternary power batteries.

As mentioned earlier, China boasts a complete industrial chain. However, due to its advanced supply chain and fierce market competition, the average price of China's ESS is lower than that in Europe and the U.S. Consequently, in the United States, expanding local battery capacity in the short term poses challenges. Nonetheless, aided by U.S. subsidy policies and transport cost considerations, China's energy storage system products remain highly competitive in the U.S. market.

Wood Mackenzie anticipates that the capacity of energy storage batteries in the United States falls short of meeting the demands of its energy storage market. Moreover, the IRA Act mandates certain requirements, such as localizing key minerals and battery modules, to qualify for electric vehicle subsidies. However, there are no specific provisions regarding the ESS supply chain in the IRA Act. As a result, in the short term, ESS systems reliant on lithium iron phosphate will heavily depend on the global supply chain, particularly on China's supply of lithium iron phosphate batteries.

Chinese battery manufacturers continue to lead the way in global energy storage battery shipments. According to data released by SNE Research, an international battery market research institution, on March 11, 2024, Chinese companies maintained their dominance in global energy storage battery shipments throughout 2023. The data reveals that global energy storage battery shipments in 2023 totaled 185GWh, with the top five spots occupied by Chinese companies: CATL, BYD, EVE Battery, REPT, and Hithium.

In 2023, the global energy storage market continued to be dominated by China, North America, and Europe. Demand for energy storage batteries in North America and Europe reached 55GWh and 23GWh respectively, accounting for 30% and 12% of the market share. Meanwhile, the Chinese market saw demand soar to 84GWh, securing a commanding 45% market share.

Currently, Electrochemical Storage Systems (ESS) remain unaffected by the Foreign Entity of Concern (FEOC) regulations in the IRA Act. This implies that the U.S. has yet to impose restrictions on imports of energy storage batteries from China. Consequently, Chinese manufacturers still hold sway in both the U.S. and European markets. With the U.S. electrochemical energy storage market witnessing robust growth and China's lithium-ion battery industry boasting superior scale and technological prowess globally, manufacturers stand to gain significantly by tapping into high-value segments of the industry chain and leveraging advanced technologies.

Regarding ESS, according to data from CNESA, the top five companies in global ESS shipments for 2023 are Sungrow, CRRC Zhuzhou, Hyperstrong, Narada Power, and Envision Energy. Chinese energy storage system integrators are rapidly expanding into overseas markets, aiming to cater to diverse scenarios and enhance their presence across multiple global markets.

As capacity continues to grow, Chinese energy storage enterprises are increasingly targeting overseas markets. Energy transformation and green development represent inevitable trends in global economic progress, with the new energy industry in various countries and regions experiencing rapid expansion. Consequently, the potential for growth in overseas markets is virtually limitless.

Furthermore, Chinese battery companies lead the way in technology, production capacity, scale, and various other aspects. Their integrated industry chain and cost advantage serve as crucial assets, with relevant enterprises actively promoting research and development in battery technologies and strategic planning. Consequently, their competitiveness in the international market is steadily increasing.

Looking ahead, China, the United States, and Europe will remain the world's most significant regional markets for energy storage. Leveraging advantages such as the introduction of new technologies, cost efficiency, diverse product application scenarios, and expanding overseas markets, Chinese energy storage enterprises can enhance their global competitiveness.

0 Comments
2024/05/15
07:52 UTC

2

Looking to build out my team for Battery Storage system project in Texas

I’m looking to round up my team for a BESS project. Looking for someone who has previous experience in BESS or related fields. It can start as a consulting gig and can evolve into a full time position with possible equity participation. Need someone with technical expertise for designing and optimizing battery energy storage systems for various applications including renewable energy integration, grid stabilization, and microgrid solutions. Message me if you are interested in joining my dynamic team.

I can send more information to interested parties.

3 Comments
2024/05/07
00:45 UTC

24

710 MW solar farm will use Form Energy iron batteries

It will partially replace the nearby coal plant set to retire over the coming years, address the variability of solar power by pairing it with long-duration storage, and provide good-paying union jobs in a community that’s losing a key employer in the coal facility.

The mammoth solar installation, which will cover about 4,500 acres across three sites, will be one of the first large-scale projects to use a long-duration iron-air battery from Form Energy.

https://www.canarymedia.com/articles/solar/minnesotas-biggest-solar-project-will-help-replace-a-huge-coal-plant

7 Comments
2024/05/01
13:27 UTC

6

Is it still worth joining a storage energy company?

I am considering if it’s a good time to jump into an energy storage company, however I keep hearing that the prices are going down and overcapacity . Any insights on this ?

6 Comments
2024/04/13
00:47 UTC

3

173GWh! Projections for Global Energy Storage Installations in 2024 Spotlight C&I ESS Advancements

Fueled by factors such as a significant uptick in wind and solar installations, an expedited process of power market reform, fluctuations in ESS prices, and clearer policies, the global energy storage market is experiencing a period of rapid expansion.

According to Trendforce projections, new installations of global energy storage are poised to reach 74GW/173GWh in 2024, marking a year-on-year growth of 33% and 41%, respectively. While maintaining a notable increase, the growth rate is expected to slow down slightly. Regionally, Europe and the Middle East Africa region are experiencing faster growth, whereas Asia-Pacific and the Americas are showing signs of deceleration.

Regarding ESS types, commercial and industrial (C&I) energy storage systems are entering a phase of swift development, surpassing the incremental growth of utility-scale installations and other ESS types by a significant margin.

In 2024, global installations of ESS are poised to hit 74GW/173GWh, with China, the United States, and Europe contributing a whopping 85% to the total installations.

Thanks to an oversupply of lithium carbonate and energy storage battery cells, the prices of energy storage battery cells have plummeted from RMB 0.9/Wh at the beginning of 2023 to below RMB 0.4/Wh, and they are expected to remain at this low level for the foreseeable future. This significant reduction in the cost of energy storage system installations has led to a steady increase in project IRR (Internal Rate of Return), effectively bolstering the growth of global energy storage installations.

Based on Trendforce's global ESS installation database, the forecast indicates that global energy storage new installations will surge to 74GW/173GWh in 2024, marking a significant 33% and 41% year-on-year increase. Notably, the primary regional market landscape remains consistent, with China, the US, and Europe collectively representing 85% of the global total installations.

Projections for  Global ESS Installations in 2024( Unit: GW)

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Despite the sustained high growth in global demand for energy storage installations, several risks persist that could impede progress:

  1. Geopolitical tensions may resurface in certain regions, potentially disrupting normal shipping transportation and delaying local installations.
  2. Some local governments are grappling with significant financial pressures, potentially impacting government-led energy storage bidding projects and prolonging the completion timeline of winning projects.
  3. Decreased consumer spending power among residents could hinder the adoption of residential ESS installations.

Commercial and industrial (C&I) ESS is experiencing a surge in growth, entering a phase of rapid development.

The increase in installations for utility-scale ESS far outpaces that of other types.

In the realm of residential energy storage, projections for new installations in 2024 stand at 11GW/20.9GWh, reflecting a modest 5% and 11% increase. With the decline in both power and natural gas prices, observations from 2023 installations suggest a diminishing sense of urgency for residential installations. Consequently, it's anticipated that the growth rate will significantly decelerate in 2024.

Commercial and Industrial (C&I) Energy Storage: Anticipated for 2024, new installations are projected to soar to 8GW / 19GWh, marking a staggering 128% and 153% year-on-year increase. With the gap between peak and off-peak electricity prices widening, the project's economic viability has substantially improved, fueling a sustained period of accelerated growth.

Utility-scale Energy Storage: Forecasted for 2024, new installations are set to reach 55GW / 133.7GWh, reflecting a solid 33% and 38% increase. The decline in lithium prices has led to a corresponding reduction in the cost of energy storage systems, bolstering the economic feasibility of utility-scale energy storage and revitalizing tender markets. Furthermore, as countries enhance their revenue mechanisms for energy storage systems, grid-level ESS installations are poised for explosive growth.

Projections for Global ESS Installations By Types in 2024(Unit: GW)

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Overview of Four Major Regional Markets:

Asia: Expected to reach 82 GWh in new installations in 2024, marking a 41% year-on-year increase.

The region has been impacted by a substantial rise in wind and solar PV installations in recent years, placing greater strain on the grid. In response, Asian countries have initiated an adjustment period for energy transition in 2024, leading to a slowdown in the growth rate of wind and solar installations. Concurrently, there’s a concerted effort to expand and construct grids vigorously, with the promotion of utility-scale storage through government bidding or subsidies. Notably, China surpasses other Asian countries significantly in terms of installation rates.

Projections for ESS Installations in Asia in 2024(Unit: GW)

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Europe: Expected to achieve 32 GWh in new installations in 2024, representing a substantial 55% year-on-year increase.

By the end of 2023, Europe boasted ample gas reserves, leading to a moderation in electricity supply and demand, and a subsequent return of electricity prices to normal levels across most regions. Consequently, the impact of high electricity prices on European installations has waned. Following a surge in installed renewable energy capacity during the energy crisis, European countries now grapple with a growing issue of elevated wind and solar power abandonment rates. As a result, certain segments of the European energy storage market have yet to develop a market-based profit model. Nonetheless, leveraging direct government subsidies and other measures, they continue to drive high demand for utility-scale storage installations, aimed at mitigating wind and solar power abandonment rates.

Projections for ESS Installations in Europe in 2024(Unit: GW)

https://preview.redd.it/8p4gxyzmgttc1.png?width=962&format=png&auto=webp&s=90ab9729f5a457b1180b359711c5cb5bbb5ff104

Americas: Anticipated to achieve 49 GWh in new installations in 2024, marking a robust 31% year-on-year increase.

In North America, the imperative for ESS development and the economic viability of ESS projects outstrip those in Latin America. The United States is projected to contribute 88% of the total installations in the Americas in 2024. The implementation of the new FERC grid connection policy has resulted in a gradual easing of the ISO interconnection queue application backlog. Consequently, the process of bringing utility-scale ESS online is expected to be smoother in 2024. Additionally, Canada and Chile's energy storage markets are poised to maintain significant growth increments throughout the year.

Projections for ESS Installations in the Americas in 2024(Unit: GW)

https://preview.redd.it/k1ai1v4ogttc1.png?width=956&format=png&auto=webp&s=4282b50c5b1b8507a6d451c00514661ae5110982

MEA (Middle East and Africa): Projections indicate new installations reaching 10 GWh in 2024, showcasing a robust 54% year-on-year increase.

The growth trajectory of the energy storage market in the Middle East and Africa for 2024 is notably concentrated, with South Africa and Israel emerging as dominant players. Both markets have unveiled clear plans for energy storage installations and have implemented subsidy programs to fuel installation growth.

Projections for ESS Installations in the MEA in 2024(Unit: GW)

https://preview.redd.it/k1bvnynogttc1.png?width=956&format=png&auto=webp&s=ca88522b0b52fea4bcb3ab39a8fa4e58ecdcac61

Overall, ESS regulations are becoming more robust and established, subsidy policies are regularly issued, and the business model for ESS is maturing steadily. Furthermore, the initial investment costs for ESS continue to decline. Despite the explosive growth witnessed in global ESS installations from 2022 to 2023, the installations in MEA are poised to sustain a high growth rate. However, the rate of growth is expected to moderate, returning to a more rational pace.

2 Comments
2024/04/11
09:09 UTC

2

Last six months analysts' estimates

0 Comments
2024/04/11
04:41 UTC

2

Did Your Renewal by Andersen sales rep volunteer to talk tax credit?

0 Comments
2024/04/06
01:41 UTC

2

Battery Passport

What if we could just scan the QR code on a battery (cell, module or pack) and obtain its full lifecycle data? The Battery Passport will be a key enabler of sustainable decarbonization.

4 Comments
2024/04/04
04:13 UTC

0

Energia Power Systems

Together, let's revolutionize the way we power our lives. Invest in a more sustainable and convenient future – invest in Energia Power Systems today! Emerging from Stanford University's research excellence, we are set to redefine battery resilience and power storage systems with groundbreaking scientific innovations. We're thrilled to announce our crowdfunding campaign on Wefunder! This is your chance to become an early shareholder in our exciting company and be a part of the future of battery technology as we bring this game-changing innovation to life. Visit our crowdfunding site at https://wefunder.com/energiapowersystems to get involved and contribute to our campaign!

For more information, visit our website at www.energiapowersystems.com and follow us on LinkedIn for news and updates.

1 Comment
2024/04/02
17:19 UTC

3

The future in grid scale batteries

We are trying to cleanup our environment yet we are using multi mineral batteries (think lithium) to store energy at some PV solar and wind farms. Someday all of the lithium batteries will be wearing out and we will need to recycle as much as possible and yet what can not be recycled will go into landfills. Iron flow batteries will be the alternative. ESS Inc. has an iron flow battery in production that they describe as being 100% recyclable.

https://www.pnnl.gov/news-media/new-all-liquid-iron-flow-battery-grid-energy-storage

13 Comments
2024/03/27
03:30 UTC

3

What was your experience with purchasing and using PV and home storage batteries?

I've been interested in solar and battery storage lately.

I'd like to ask those of you who have installed solar and home storage batteries , what problems have you experienced with them? What was the process of purchasing them? And what was the motivation for the purchase?

Sincere replies would be appreciated! :)

4 Comments
2024/03/26
02:53 UTC

0

Thunderbolts of the Gods | Official Movie

This movie has a very interesting theory about it

1 Comment
2024/03/23
02:04 UTC

8

Europe Sparks Change with Electricity Market Reform, Paving the Way for Robust Utility Energy Storage Growth Across Nations

As the use of renewable energy installations rises, there's an increasing need for flexible resources on the grid. The International Energy Agency (IEA) has assessed factors like national grid load curves and renewable energy generation, finding that European countries like Denmark, Germany, Ireland, Spain, the UK, and Italy now have over 15% of their energy generated from renewables. However, the impact of renewable energy on power system operation varies due to differences in each country's grid and flexibility resources.

Traditionally, thermal power, gas generation, and pumped storage plants have dominated power system flexibility resources. Yet, with the global push for decarbonization, battery storage, hydrogen energy, demand-side response, and grid transmission channels are emerging as crucial components of future flexibility resources. According to IEA predictions, battery storage is expected to contribute 30% of flexible power resources by 2050, while the share of fossil fuels will be reduced to less than 5%.

Currently, natural gas peaking power plants play a vital role in regulating flexibility in the European power market. Additionally, certain parts of Europe rely more on hydropower and nuclear power for flexibility support. However, in the last two years, factors such as increasing fuel and carbon prices, maintenance issues with nuclear power units, and insufficient hydropower water have strained flexibility resources in Europe, resulting in a sharp surge in electricity prices.

The electricity reform is poised to expedite the implementation of utility storage.

Faced with the most severe energy crisis in decades, the European Union (EU) has introduced a series of policies to fast-track the transition to clean energy since 2021, including Fit-for-55 and REPowerEU. However, the substantial surge in European electricity prices in 2022 compelled the EU to reassess the existing power market design, which relied on marginal cost pricing.

Moreover, the EU had to unveil a more adaptive power market reform program for renewable energy development at the beginning of 2023. This initiative is anticipated to hasten the deployment of European renewable energy, along with flexible resources such as energy storage and demand-side response.

On March 14, 2023, the European Commission unveiled a preliminary proposal for an electricity market overhaul, followed by the European Parliament formally endorsing the EMD on July 19.

The primary focus of this reform is geared towards enhancing the liquidity and dependability of the long-term electricity market. It aims to incentivize renewable energy producers to engage in long-term power purchase contracts (PPAs) and government-approved contracts for difference (CfDs), thereby mitigating short-term price fluctuations through adjustments to relevant EU electricity regulations. Additionally, the reform seeks to facilitate the integration of more non-fossil fuel-based flexibility resources into the grid, such as Energy Storage Systems (ESS) and demand-side response. Ultimately, the reform underscores the crucial role of new energy storage and endeavors to establish a reliable ESS infrastructure at the highest level.

Furthermore, on December 14, 2022, the European Parliament greenlit REPowerEU, a plan designed to expedite the approval and licensing processes for various renewable energy ventures, including battery energy storage. This move is anticipated to kickstart the deployment of utility energy storage projects across Europe.

The United Kingdom, serving as a key catalyst in the European energy storage market, has consistently surpassed an annual installation of over 1 GWh in recent years for energy storage power plants. The primary source of revenue for Energy Storage Systems (ESS) stems from ancillary services. With the European electricity reform initiatives aiming to fortify grid resilience and bolster the growth of energy storage power plants, it is foreseen that installations in the European ESS market will maintain a range of 3-5 GWh per year in the coming years.

The UK Leads in Installations, Italy Poised for a Surge

As per statistics from the European Association of Energy Storage (EASE), Europe witnessed a substantial increase in energy storage capacity in 2022, with a total addition of 4.5GW. The utility storage and residential storage sectors contributed 2GW and 2.5GW, respectively.

In the Fast-Track-to-Market (FTM) segment, the United Kingdom claimed the lion's share, representing 42% of Europe's utility storage market. Following closely were Ireland, Germany, and France, with respective shares of 16%, 12%, and 11% in total installations. Notably, the statistics suggest that Italy is on the cusp of a significant surge in installations.

Based on data from Bloomberg New Energy Finance (BNEF), the primary source of revenue for European utility storage projects is the provision of frequency response services. In 2022, over 80% of the revenue in the European energy storage market originated from the lucrative frequency response market in key countries, including the United Kingdom, Ireland, Germany, France, Belgium, and the Netherlands.

As the frequency response market approaches saturation in the future, European energy storage projects are expected to pivot towards tariff arbitrage and capacity markets. Currently, Spain and Italy's energy storage projects generate relatively high revenue through tariff arbitrage, but their investment costs remain unmet. To mitigate the risk associated with new projects, countries like the United Kingdom, Italy, Poland, Belgium, and others have instituted a capacity market mechanism for Energy Storage Systems (ESS). This ensures that ESS projects secure minimum gains through capacity contracts, reducing overall project risk.

According to the 2022 Italian capacity market auction plan, there's an anticipation of adding 1.1GW/6.6GWh of new battery storage systems in 2024. In June 2023, the Italian regulator approved updated auction rules for grid-scale energy storage, empowering Terna (the transmission system operator) to conduct large-scale auctions for battery storage systems. The initial auctions are slated for the end of 2023 or early 2024, coinciding with the approval of a 200MW/800MWh battery storage system project owned by Aura Power. Consequently, explosive growth in installations is expected in Italy over the next few years.

Greece, Germany, and Spain have also implemented policies supporting utility-scale energy storage tenders and other initiatives, anticipating a significant boost in local utility-scale storage installations in the coming years.

As per the European Energy Storage Association forecast, the United Kingdom's favorable market mechanisms will further drive installation growth. Italy and Greece are poised for explosive growth in utility-scale installations between 2023-2025, thanks to supportive policies. Meanwhile, short-term installation growth in Ireland may be hampered by grid bottlenecks and other factors, but there remains potential for future growth.

1 Comment
2024/03/13
08:34 UTC

3

Israel Emerges as Pivotal Player in Energy Storage System Sector, Fueling Future Market Growth

In the midst of industry development dilemmas, unlocking breakthroughs hinges on tapping into emerging markets. Beyond those contributing significantly to the surge in solar PV installations, attention is now turning to novel markets, becoming focal points for energy storage enterprises. As the energy storage industry expands, market entities are expanding in tandem, with a gaze fixed on the horizon of 2024.

According to TrendForce projections, the outlook is promising, anticipating new ESS installations to soar to 71GW/167GWh, marking a robust 36% and 43% year-on-year increase. The growth trajectory remains notably high in Europe and Asia, while the pace in the Americas shows a moderation. Notably, the pinnacle of performance is observed in the growth of ESS installations.

Projections for new installations of ESS around the world in 2024 

https://preview.redd.it/ogw30c9sa2oc1.png?width=667&format=png&auto=webp&s=9c9f72df89287748f8ad5114aea22483571600f1

In terms of incremental changes, the market share in major players like China, the U.S., and Europe remains steadfast, while certain regions boast commendable upticks, exemplified by Israel, the United Kingdom, and South Africa. Today, our focus is on unfolding the narrative of energy storage development in Israel—an emerging market with a tale of its own.

Change is inevitable, and the energy transition stands as the pivotal pathway.

TrendForce foresees a staggering growth rate of over 200% in solar PV installations, propelled by the impending grid connection of large-scale bidding projects. As a swiftly developing economic force in the Middle East, Israel finds itself in a unique position—a nation without direct power connections to its neighbors, effectively an isolated energy island.

Currently, Israel relies heavily on fossil fuels, with gas and coal constituting over 90% of its power mix. Faced with the challenges of traditional energy dependence and the imperative for energy transition, Israel urgently seeks to secure independent energy sources. Consequently, the development of renewable energy emerges as a crucial strategic move towards achieving sustainable development.

Moreover, the volatility in Israel’s power generation costs is intricately tied to the global trading prices of fossil fuels. In a proactive move to swiftly break free from the shackles of global fossil fuel price fluctuations and enhance control over energy expenditures, Israel is significantly boosting the allocated share for renewable energy installations while vigorously advancing its renewable energy sector.

Energy Plans in Israel

As of February 2022, the Israeli Ministry of Environment unveiled an ambitious renewable energy roadmap, aiming to achieve a 40% share of renewables in the country's power mix by 2030. This bold objective entails the installation of 18 GW to 23 GW of solar projects, coupled with 5.5 GW / 33 GWh of storage capacity. The surge in renewable energy sources and a heightened commitment to advancing the green and low-carbon transformation of the power system in Israel have intensified the need for diverse energy storage constructions.

In the realm of carbon reduction, Israel has set an ambitious target for installed energy storage by 2050, aiming for 50GW/230GWh with an average storage duration of approximately 4.6 hours. Currently, as part of its energy strategy, Israel has crafted several promotional policies to expedite the energy transition, all geared towards attaining the lofty objective of energy independence. Furthermore, the nation is charting a course away from heavy reliance on traditional fossil fuels, envisioning a revamped power structure centered on solar PV, a move designed to enhance control over energy costs. Given this strategic shift, TrendForce anticipates that Israel's new energy storage installations will surge to 1.1GW/3.4GWh in 2024, marking an impressive year-on-year growth of 214% and 206%, respectively.

Projections for the capacity of ESS installations in Israel in 2024 

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Growth Trends: The surge in installations is predominantly led by utility-scale energy storage, while residential and C&I ESS installations maintain robust growth rates.

As previously mentioned, TrendForce anticipates that new energy storage installations in Israel will hit 1.1GW/3.4GWh in 2024, with utility-scale energy storage playing a dominant role in this increment. The analysis reveals that the energy storage growth from 2023 to 2024 is chiefly propelled by the solar PV energy storage bidding projects (33GWh) conducted in 2020 and 2021. Furthermore, the consecutive announcements of new energy storage bidding projects provide a solid foundation for the expansion of utility-scale energy storage installations in the local region. Undoubtedly, ESS bidding projects and subsidy policies will drive the demand for local energy storage development. However, due to Israel's limited local land and the scarcity of available grid infrastructure areas, there is a heightened demand for utility-scale solar PV power plant projects in energy storage installations. Consequently, it is anticipated that future utility-scale projects will primarily revolve around the installation of solar PV energy storage systems.

Turning our attention to residential and C&I energy storage, with power prices maintaining high levels, the implementation of additional tariff subsidies for energy storage in 2023, along with relaxed market regulations, will continue to fuel rapid growth in residential and C&I energy storage installations. As a result, post-2025, they are poised to claim a higher proportion in the overall energy mix.

Development Trends: Israel has emerged as a pivotal market for China's solar PV enterprises venturing into the global arena.

n the present landscape of deepened economic globalization, the dynamics of the world economy and the roles of individual countries are undergoing significant transformations. Additionally, with mainstream market demand showing signs of stabilization (referring to markets established earlier and growing rapidly), companies are faced with the challenge of not only securing existing orders from these markets but also actively seeking new opportunities in overseas territories.

At present, Israel holds substantial importance for China’s solar PV energy storage enterprises looking to expand globally. Leading domestic players such as Trina Solar, Jinko Solar, LONGi, Huawei, Power China, CATL, Sungrow Power, BYD, and others have established business partnerships or collaborations with local enterprises in Israel. Among them, Israel stands out as a key region for Sungrow Power's energy storage business. This reflects the ongoing trend of Chinese solar PV companies strategically navigating global markets, with Israel playing a crucial role in their international endeavors.

According to partial data, Sungrow Power has inked multiple agreements for ESS project installations in Israel since 2022:

-In January 2022, Sungrow Power secured a deal with Enlight Renewable Energy, the largest new energy company in Israel, for the installation of its flagship liquid-cooled energy storage system (ESS), amounting to 430 MWh—the largest ESS project in Israel.

-March 2022 witnessed Sungrow Power receiving an order to install a 64MWh battery energy storage system at the Dalia Power Station combined cycle gas turbine (CCGT) power plant. This endeavor is geared towards emissions reduction and efficiency enhancement.

-In April 2022, Sungrow Power entered into a 66MW/253MWh energy storage contract with Doral Renewable Energy Resources Group, an Israeli renewable energy and sustainable infrastructure developer. The agreement mandates Sungrow Power to supply Doral with a 66MW/253MWh battery energy storage system, boasting slightly under four hours' duration.

-On March 3, 2023, Sungrow Power solidified its commitment by signing a battery storage supply agreement with Doral Renewable Energy Resources Group.

The international market stands out as a more lucrative arena, making it a crucial focal point for numerous Chinese companies looking to expand their energy storage ventures. The economic landscapes, policies, legal frameworks, religious and cultural nuances, as well as languages and customs vary across emerging markets, resulting in diverse requirements for the operations and products of energy storage companies.

In terms of project delivery, enterprises eyeing overseas expansion must possess the agility to swiftly adapt to the demands of local markets. In the current landscape where countries are hastening their energy transformation efforts, energy storage holds a strategic position of paramount importance, its significance and necessity beyond question. Presently, Israel has laid out a clear plan for energy storage installations and boasts specific subsidy policies aimed at stimulating demand growth. Consequently, the energy storage business in Israel is poised for rapid development, with expectations set for significant progress by 2024.

0 Comments
2024/03/13
08:30 UTC

5

Unveiling the Evolving Landscape: In-Depth Analysis and Latest Statistics of the Global Energy Storage Markets

Reflecting on recent market trends, the cost of lithium carbonate and ESS bidding prices have remained at a low point, fostering an advantageous environment for heightened ESS demand. Although the ESS market is currently in its off-season, January witnessed growth in domestic ESS tender projects, and February saw an upswing in utility-level solar installations. Notably, with global interest rate reductions being implemented, there's anticipation that the demand for ESS will experience a significant surge.

In the realm of international markets, the EU Council and the European Parliament have clinched a tentative agreement to establish a framework of measures aimed at fortifying Europe's net-zero technology products manufacturing ecosystem, widely recognized as the 'net-zero industry act' (NZIA). The act remains aligned with the primary goals initially proposed by the Commission less than a year ago, specifically targeting the achievement of 40% production capacity to meet the EU's strategic technology product demands by 2030. Furthermore, this provisional accord brings forth several enhancements, including streamlined regulations for construction permits, the creation of net-zero industrial valleys, and increased clarity regarding criteria for public procurement and auctioning.

Part of dynamics of global energy storage market:

The UK government's move to eliminate VAT on home storage systems has officially taken effect, and Alcem, an energy storage company, has been granted approval for a sizable energy storage project boasting a capacity of 1.5GW/3GWh. In Greece, the second round of auctions for long-term operating grants for energy storage projects is now open for bidding, and the average winning bid has seen a notable decrease compared to the previous round.

Down under, the Australian state of Queensland has unveiled its official battery strategy plan, earmarking a substantial investment of 570 million Australian dollars for the local battery industry. Meanwhile, in India, the largest solar battery energy storage systems (BESS) are entering operation. The Solar Energy Corporation of India (SECI) has announced the commissioning of a massive 40MW/120MWh Battery Energy Storage System (BESS) in Rajnandgaon, Chhattisgarh—India's largest solar-battery project funded by the World Bank. This project is linked with a 155.02MW (DC)/100MW (AC) solar plant.

Solar PV Installations in the Oversea Market

The U.S. added 148.1MW capacity of energy storage installations in January

In January 2024, the United States saw an increase in energy storage installations, adding 148.1MW of capacity. However, this marked an 88% decrease from the previous month's figure of 1,231MW in December 2023. The decline is attributed to the elevated base of installations towards the end of 2023 and the customary off-season at the beginning of the year. In terms of year-on-year growth, there was a significant surge of 126.8% in grid-connected capacity compared to January 2023, indicating the potential for further expansion.

Examining project locations, there are four new projects related to solar PV installations, with three projects situated in California and one in Texas. Looking ahead, the U.S. has ambitious plans for utility-scale energy storage, targeting an additional 14.6GW capacity in 2024, showcasing a remarkable year-on-year growth of 131.77%.

In the dynamic energy landscape of Europe:

United Kingdom:

Anticipation is high for a remarkable surge in energy storage installations in the United Kingdom. Recognized as Europe's most established utility-level energy storage market, the latest edition of the UK's official future energy vision plan outlines ambitious short-term goals, accompanied by the government's commitment to introducing incentives fostering further installation growth. Forecasts for 2024 predict a substantial explosion in energy storage installations, with new solar PV installations projected to soar to 7.2GWh—a striking 80% increase compared to the previous year.

Germany:

January witnessed Germany's home storage systems adding 55,000 units, contributing a capacity of 0.3GWh. While this marks a 23.7% year-on-year decline, there's a notable 12.1% uptick from the previous month. Currently in winter, the off-season for solar PV installations, nearly 80% of Germany's home energy storage and PV solar installations are reported by SolarPower. The utility-level energy storage installations in January were limited to 4.1MWh, reflecting a substantial year-on-year drop of 76.1% and a month-on-month decrease of 74%. Additionally, commercial and industrial (C&I) energy storage installations totaled 13.6MWh, displaying a year-on-year decline of 9.9%, but with a modest month-on-month increase of 3.8%.

In the global realm of new energy transition planning, Europe stands at the forefront. TrendForce anticipates that in 2024, Europe's new energy storage capacity is set to hit 16.8 GW/30.5 GWh, showcasing an impressive year-on-year growth of 38% and 53%, maintaining its robust upward trajectory.

See the figure below for projections for energy storage installations in Europe in 2024.

https://preview.redd.it/yh38d0buyvmc1.png?width=863&format=png&auto=webp&s=7909f7d57c9cf58ab9968695eca3b933048bc844

Presently, mainstream European countries find themselves grappling with the aftermath of energy storage subsidy-based policies, with many facing budget exhaustion or subsidy retreat. The slowdown in the growth of home energy storage installations is causing a shift in market dynamics, leading to a decline in the dominance of countries where the ESS market is primarily household-focused. On the flip side, the United Kingdom is witnessing a significant uptick in utility-level energy storage capacity. The government tenders and market-based projects fueling utility-level installations contribute to its continued strong growth momentum.

Notably, Germany, Britain, and Italy emerge as the powerhouses dominating the landscape of energy storage installations in Europe.

0 Comments
2024/03/07
10:05 UTC

3

Nearly 3GW!Statistical Analysis of Energy Storage Projects Commissioned in January and February 2024

In January and February 2024, a total of 99 new energy storage projects were commissioned, with a total capacity of nearly 3 GW/7,743 GWh. Of these, 2.457 GW/6.574 GWh were commissioned in January, accounting for 84.38% ,a 186.8%  increase compared to January 2023. However, the new energy storage capacity in February 2024 fell back to normal levels, with a capacity of 45 MW /1169 MWh, a 12.5% year-on-year increase.

Figure : Comparison of Installed Size of New Energy Storage, Jan-Feb 2024

https://preview.redd.it/icbawmowntmc1.png?width=1268&format=png&auto=webp&s=7ec123ac229faa1ae04c60843b1506d27dd12dbb

Grid-side energy storage accounted for more than a half , with significant growth in user-side energy storage projects.

In January and February 2024, a total of 17 grid-side and 17 source-side energy storage projects were commissioned. Grid-side energy storage projects totaled 1.613 GW/3.426 GWh, accounting for 55%. Shared energy storage projects accounted for the majority, with a scale exceeding half of the grid-side energy storage projects, and large-scale projects dominated, with 9 projects of over 100 MW commissioned, accounting for 83.5% of the total. Large-scale independent shared energy storage projects have become the main trend.

All source-side energy storage projects were new energy source-side storage projects, totaling 1.003 GW/3.316 GWh, accounting for 35%. Among them, the newly installed capacities of wind power storage and photovoltaic storage were comparable, with 440 MW/1580 MWh and 402.2 MW/1164.4 MWh. The scale of wind and solar energy storage projects was 160.6 MW /571.2 MWh, accounting for 16%.

Figure : Distribution of application scenarios of new energy storage projects on the power side, Jan-Feb 2024

https://preview.redd.it/ybeptunxntmc1.png?width=1269&format=png&auto=webp&s=744efc28c01dc55f1aff620717adbe67ce86e1d4

User-side energy storage projects grew rapidly, with 65 projects commissioned in January and February. The projects were mainly micro and small commercial and industrial projects, included several medium-sized commercial and industrial energy storage projects, totaling 297 MW/1001 MWh, accounting for 10% of the total. The projects were mainly concentrated in the provinces of Jiangsu and Zhejiang, with capacities far exceeding those of other provinces.

Figure : Distribution of Installed Size of New Energy Storage by Application Scenario, Jan-Feb 2024

https://preview.redd.it/nv2l1boyntmc1.png?width=1267&format=png&auto=webp&s=4f517dbf9c1b7f0b11479d589c6652c02347ab4b

Source: CESA

1 Comment
2024/03/07
02:20 UTC

4

Most new electricity generating capacity added in the U.S. in 2023 came from solar

0 Comments
2024/03/06
14:23 UTC

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