On May 24-26, 2023, the 7th SNEC International Energy Storage Technology and Equipment and Application Conference and Exhibition was held in Shanghai, with major energy storage enterprises bringing new products to participate.

With the rapid growth of global energy storage demand, Chinese energy storage enterprises are accelerating their evolution. On the one hand, they are committed to improving technology, reducing costs, and accelerating the era of light storage parity; On the one hand, we are committed to perceiving downstream demand, expanding application scenarios, and further expanding the cake of the energy storage market. Based on the exhibition situation, Everbright Securities summarized six major trends in the current development of the energy storage industry:

Trend 1: Comprehensive integration of optical storage

(1) Photovoltaic enterprises have fully entered the energy storage industry. Photovoltaic companies such as JA Solar Technology and JA Solar Energy have made their debut with energy storage products. With the accumulation of previous photovoltaic customers, their energy storage business is expected to grow rapidly.

(2) Integrated solutions for optical storage have emerged. Lithium battery enterprises: Based on the advantages of battery cell research and development, we are striving for "light storage and longevity". The inverter company has proposed a user side integration solution, committed to enhancing the overall value. The breakthrough point for component enterprises is the integration of ground power plant optical storage.

Trend 2: The advancement of battery cells remains the core driving force for energy storage and cost reduction

(1) Long life battery cells have become a battleground for military strategists. The cycle life of battery cells is still the core influencing factor in the current full life cycle electricity cost, and the progress of battery cells is the core driving force for achieving "light storage parity". Ningde Times launches battery cells with a lifespan of 15000 cycles; Xinneng'an has launched the Kunlun series of 15000 ultra long cycle lithium batteries.

(2) Blade batteries are beginning to be applied in the field of energy storage. BYD has launched its first integrated blade battery energy storage system, the BYD Rubik's Cube, which significantly improves space utilization. Honeycomb Energy has released a full range of short knife energy storage cells and products for three major scenarios.

Trend Three: Multi party Competition for Industrial and Commercial Energy StorageEnterprises from various fields have entered the industrial and commercial energy storage industry and launched system products. With the rapid development of the industrial and commercial energy storage industry, both ground power station energy storage and household energy storage enterprises are accelerating the development of industrial and commercial energy storage products. From the perspective of industry participants, inverter companies, battery companies, energy storage integration companies, and photovoltaic companies are all accelerating their entry into the market. The core selling points are "integrated" and "flexible grouping", and the integrated solution of optical storage and charging expands the future market space.

Trend 4: Continuous evolution of thermal managementLiquid cooled energy storage systems have become the mainstream in the industry. Most of the newly released ground power stations and industrial energy storage systems from major manufacturers use liquid cooled temperature control. With the increasing emphasis on energy storage safety and economic efficiency from customers, liquid cooling is expected to become the mainstream temperature control method in the industry for a period of time in the future. The emergence of air conditioning free solutions is expected to be the first to be applied in the industrial and commercial fields.

Trend 5: Household energy storage products are showing a trend towards home electrification, with an increase in high-voltage household storage productsHousehold storage users not only consider factors such as power, charging capacity, and price, but also factors such as land area, installation and operation, and appearance design become the basis for their choices. In addition, numerous manufacturers have showcased high-voltage household storage products.

Trend 6: Household storage enterprises are starting to move towards large storage, and the hot trend of the large storage market is not decreasingAt the exhibition, household energy storage companies such as Paineng Technology, Shouhang New Energy, Guruiwat, Keshida, and Wotai Energy also launched ground power station energy storage products; This fully demonstrates the industry's optimism about the future development prospects of the large storage market.