Three major trends in the development of the energy storage industry in 2024

Three major trends in the development of the energy storage industry in 2024

1. Application scenario trends: Expansion Power supply side: thermal storage, solar storage, wind storage, conventional energy storage units, etc.; Grid side: independent energy storage, substations, collection stations, mobile power vehicles, etc.; User side: industry and commerce, industrial parks, EV charging stations, port shore power, islands/campuses/communities, etc.

2.Product Trends
Cells: 300+Ah large cells; Systems: 5MWh+ large energy storage systems are becoming mainstream. Large storage: Square batteries are becoming longer and thinner, with a clear trend towards larger capacity, such as BYD's blade batteries; Household storage: Large cylindrical LFP batteries will accelerate penetration into the household storage market due to their significant advantages in performance, safety, and cycle life.

3.Technology

Trend:
Diversification Energy storage technology as a whole is based on lithium battery as the core, and other technical routes are competing for development. Sodium ion battery, all-vanadium liquid flow battery, compressed air energy storage, etc. have all ushered in development space.

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