Energy Storage Battery Market Development

Energy Storage Battery Market Development

In recent years, with the rapid development of the new energy industry, the energy storage market has also experienced explosive growth as its subsidiary industry. In fact, whether it is photovoltaics, wind power, hydropower, or other renewable energies, as well as traditional power grids or distributed energies with internal combustion engines, they all rely on the support of energy storage technology. The energy storage battery industry has also become a strategic hub for energy transformation.

The trend of energy storage batteries accelerating popularization and market becoming clearer

Although energy storage batteries have many advantages and great potential, the key reason why they have not yet become popular is that related energy storage battery technology is not yet mature. However, it is gratifying that the country has noticed the importance of energy storage systems and has begun to accelerate policy, funding, and other support. It can be foreseen that over time, energy storage products will become a perfect part of work and life.

30kw ev charger module
30kw ev charger module

Development prospects of energy storage batteries

At present, the main application areas in the energy storage battery market are power storage, household energy storage, and base station energy storage, among which the field of backup power supply for communication base stations currently accounts for a large proportion, occupying nearly half of the entire energy storage battery market. With the “home energy” trend sparked by Tesla, home energy storage has a large space for further development and expansion, but it is mainly concentrated in overseas regions such as the United States, Germany, Australia, and Japan. Developing countries are still in the early stages of development, and the market scale is relatively small. However, the development prospects are also considerable in the long run. Overall, the growth rate of the energy storage battery market is still quite significant, excluding pumped storage power stations and heat storage projects. However, on the one hand, the investment return cycle in the energy storage battery field is relatively long, and on the other hand, high costs are still an unavoidable issue.

However, with the further development of science and technology, the cost of energy storage batteries has also been continuously decreasing. From the perspective of policies, the country’s attention to the energy storage battery field will also greatly promote the development of this industry. In many policies, the energy storage field has been nominated, which also gives energy storage projects a certain access space and support.

Application of energy storage batteries in the power transmission and distribution field

By configuring a certain energy storage battery system in the power transmission and distribution network, during the low load period, the energy storage battery system stores energy as a load, and during the peak load period, the energy storage battery system releases energy as a power source to solve the problem that existing power transmission and distribution lines are insufficient in peak load periods and equipment utilization rates are low in low load periods, realizing the overall improvement of power transmission and distribution efficiency. In addition, when a local fault occurs in the transmission network, the energy storage system can also utilize it to continue power supply to ensure the normal transmission of electricity.

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