The energy storage market is experiencing a significant development trend as renewable energy gradually replaces traditional fossil energy sources.In response to the growing scale of renewable energy and the need to address issues such as "wind curtailment" and "abandonment of light," the construction of energy storage facilities needs to be accelerated.Recognizing this,the National Development and Reform Commission and the National Energy Administration jointly issued the "Guiding Opinions on Accelerating the Development of New Energy Storage" on July 15,2021.This document sets a target for the transformation of new energy storage from early commercialization to large-scale development by 2025,with an installed capacity exceeding 30 million kilowatts.The importance of energy storage is also emphasized as a key supporting technology in achieving China's goals of "carbon peak and carbon neutrality" and ensuring energy security.

The development potential of the energy storage market is immense,especially as the world recognizes that over 80% of global carbon dioxide emissions come from the use of fossil energy.China,as the country with the highest total carbon dioxide emissions,sees its power industry contributing as much as 41% to these emissions.With the increasing pressure to reduce carbon emissions,the shift away from fossil energy and the promotion of clean and low-carbon energy sources are crucial to achieving China's goals of carbon peak and carbon neutrality.

However,renewable energy sources like wind power and photovoltaic power generation are highly dependent on weather conditions and exhibit characteristics of instability and high volatility.This creates challenges in matching changes in user demand and maintaining a sustainable balance between power supply and demand.The power grid system's balance adjustment capability urgently needs improvement.By integrating energy storage systems with intermittent renewable energy sources,such as wind power and photovoltaics,it is possible to improve the utilization efficiency of clean energy,leverage load-side regulation capabilities,and break the deadlock of having both sufficient supply and low cost.The National Energy Administration predicts that the installed capacity of new energy storage will exceed 30 million kilowatts by 2025,with an average annual growth rate of more than 50%,making a substantial contribution to carbon peak and carbon neutrality in the energy sector.

Energy storage technology is increasingly maturing,with various categories available based on the method of energy storage.These categories include mechanical energy storage (e.g.,pumped water energy storage,compressed air energy storage),electromagnetic energy storage (e.g.,supercapacitor energy storage,superconducting energy storage),and electrochemical energy storage (e.g.,lead-acid battery energy storage,lithium-ion battery energy storage).Each method of energy storage has its unique properties and principles.

The advantages of energy storage are becoming more prominent,particularly as the power system experiences an increase in the share of wind power and photovoltaic power generation capacity.The influx of large-scale random and unpredictable power has resulted in power balance and stability control issues for the grid.By integrating energy storage technology with fast response capabilities,it is possible to achieve power and energy balance in the system under various working conditions,ensuring the safe and economical operation of the power grid and improving the utilization efficiency of wind and photovoltaic power generation.

The profit model for energy storage is becoming increasingly clear,taking cues from the foreign energy storage market.For example,the pumped storage power station has formed a profit model that includes vertically integrated internal settlement,independent participation in the market,and leasing models.These models allow for income through peak and valley arbitrage,participation in auxiliary services,and transfer value of the power station operating rights.

In conclusion,the development of the energy storage market is driven by the increasing scale of renewable energy sources and the need for effective energy storage solutions.China has set ambitious targets for the development of new energy storage,recognizing its importance in achieving carbon neutrality and ensuring energy security.With advancing technology and clear advantages,energy storage has the potential to revolutionize the power grid system and improve the utilization efficiency of clean energy sources.The establishment of profitable models for energy storage further reinforces its role in the energy sector.

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Reference website:http://cnnes.cc