Energy storage is the storage of energy. According to different forms of energy storage, generalized energy storage includes three categories: electric energy storage, thermal energy storage and hydrogen energy storage. Pumped storage is currently the highest installed energy storage route, accounting for more than 90% of the cumulative installed capacity of global energy storage. In 2019, the cumulative installed capacity of global electrochemical energy storage was 8.22GW, accounting for 4.5%, an increase of 0.9 percentage points over the same period last year. In the field of electrochemical energy storage, lithium-ion batteries account for the largest proportion of electrochemical energy storage, and in 2019, global lithium-ion batteries accounted for 87.3% of the installed capacity of electrochemical energy storage. In the future, application scenarios such as downstream renewable energy integration, electric vehicles, and 5G base stations will contribute greatly to the development of the lithium-ion battery industry.
Wind power, photovoltaic consumption, rapid penetration of new energy vehicles, and 5G base station volume have given birth to a trillion-level generalized energy storage market
We calculated the new installed capacity demand for energy storage in the three major energy storage application scenarios of renewable energy grid-connection, electric vehicles and 5G base station backup power from 2020 to 2025. It is estimated that from 2020 to 2025, the total installed capacity of new lithium battery energy storage in the world will be 1622GWh, and the installed capacity of new lithium battery energy storage in the world will be 648GWh in 2025; The total installed capacity of new lithium battery energy storage in China is 858GWh, and the installed capacity of new lithium battery energy storage in China will be 270GWh in 2025. Optimistic about the development prospects of lithium iron phosphate batteries in three types of application scenarios of renewable energy grid-integration, electric vehicles and 5G base stations, we believe that the future route of lithium iron phosphate batteries will dominate in the three application scenarios. It is estimated that from 2020 to 2025, the new market space of the global lithium iron phosphate energy storage system will be 478, 774, 1135, 1796, 2783, 434.3 billion yuan, a total of 1.1 trillion yuan, and the trillion-level energy storage market is gestation.
First, the overview of the energy storage industry and downstream application fields
1. Classification of energy storage
Energy storage is the storage of energy. According to different forms of energy storage, generalized energy storage includes three categories: electric energy storage, thermal energy storage and hydrogen energy storage. Electric energy storage is the most important energy storage method, which is divided into two technical types: electrochemical energy storage and mechanical energy storage according to the different storage principles. Among them, electrochemical energy storage refers to various secondary battery energy storage, mainly including lithium-ion batteries, lead storage batteries and sodium-sulfur batteries; Mechanical energy storage mainly includes pumped water storage, compressed air energy storage and flywheel energy storage.
Electrochemical energy storage is the power storage technology with the widest application range and the greatest development potential. Compared with pumped storage, electrochemical energy storage is less affected by geographical conditions, has a short construction period, and can be flexibly applied to all links of the power system and other scenarios. At the same time, with the continuous decline in costs and the increasing maturity of commercial applications, the advantages of electrochemical energy storage technology have become more and more obvious, and it has gradually become the mainstream of new energy storage installations. In the future, with the scale effect of the lithium battery industry further appearing, there is still a lot of room for cost reduction, and the development prospects are broad.
2. Global energy storage is mainly pumped storage, and electrochemical energy storage has broad prospects
Pumped storage is currently the most mature power storage technology, and the main areas include power system peak shaving, valley filling, frequency modulation and phase modulation and emergency backup. Pumped storage is also the technology with the largest installed capacity at present, accounting for more than 90% of the cumulative installed capacity of global energy storage. Pumped storage is limited by geographical resource conditions, low energy density, and high total investment.
The proportion of electrochemical energy storage is increasing year by year. Electrochemical energy storage is the power storage technology with the widest application range and the greatest development potential. Compared with pumped storage, electrochemical energy storage is less affected by geographical conditions, has a short construction period, and can be flexibly applied to all links of the power system and other scenarios. At the same time, as the cost continues to decline and the commercial application becomes more mature, it has gradually become the mainstream of new energy storage installations.
According to the Zhongguancun Energy Storage Industry Technology Alliance (CNESA), by the end of 2019, the cumulative installed capacity of energy storage projects put into operation worldwide was 183.1GW, a year-on-year increase of 1.2%. Among them, pumped storage accounted for the largest proportion of cumulative installed capacity, 93.4%, down 0.9 percentage points from the same period last year. The cumulative installed capacity of electrochemical energy storage was 8.22GW, accounting for 4.5%, an increase of 0.9 percentage points over the same period last year.
In the field of electrochemical energy storage, lithium-ion batteries account for the largest proportion of the total scale of new operation in the world, and in 2019, the cumulative installed capacity of lithium-ion batteries in the world accounted for 87.3% of electrochemical energy storage, dominating.
Post time: Jan-04-2023
