China Energy Storage 2021: Opportunities and Risks in the Wind
Release time: 2022-01-11 15:06:08
China Energy Storage Network News: In the past few years, which year is the "first year of energy storage" has always been a hot topic in the circle after dinner, which shows the market's expectations for the explosive development of energy storage.
Looking back at the year 2021 just passed, whether it is the macro policy environment or the actual installed capacity, the development of China's energy storage market has once again gained momentum, which has also been effectively responded and verified in terms of investment enthusiasm and product release efforts.
When new entrants come in and a large influx of capital is expected to promote energy storage as the next trillion-dollar market, we must also clearly see the various risks and uncertainties in the current market. How to seize certain opportunities in an uncertain development environment may be the key to the energy storage market in 2022.
01 Policy Environment
2025 30GW installed capacity target established
Energy storage development gains new momentum
In July 2021, the National Development and Reform Commission and the National Energy Administration jointly issued the "Guiding Opinions on Accelerating the Development of New Energy Storage". Different from the general demonstration application of energy storage in the first edition of the guidance in 2017, the new guidance focuses more on the large-scale development of energy storage and the application value of energy storage in achieving the "dual carbon" goal. The new version of the energy storage guidance has set a clear development goal of achieving a cumulative installed capacity of 30GW in 2025.
By the end of 2020, the cumulative installed capacity of new energy storage in China is 3.2GW, which means that the domestic energy storage market will achieve nearly 10-fold growth during the 14th Five-Year Plan period.
02 Regional market
Provinces and cities actively plan the development goals of the "14th Five-Year Plan"
Demonstration projects and incentive policies help energy storage installations
In 2021, driven by the new version of the energy storage guidance, local governments represented by Shandong, Ningxia, Inner Mongolia, etc. are also accelerating the formulation of local "14th Five-Year" energy storage development plans. By the end of 2021, nearly ten provinces and cities have released local energy storage development goals at different stages, and the total planned capacity has exceeded 26GW. It is expected that more provinces and cities will join in 2022. If all of the above goals can be achieved, it will become a strong support for the national 30GW target.
In order to promote the realization of the goal, the layout of demonstration projects, incentives for electricity prices, and requirements for new energy allocation and energy storage have become the main supporting policy means. At the same time, attracting industrial support through projects is also an important purpose for local governments to actively promote the development of local energy storage. Taking the first batch of 500MW demonstration projects put into operation in Shandong in 2021 as an example, the peak-shaving electricity price incentive provides strong support for optimizing the project economy. How to get rid of the dependence on demonstration projects and truly realize the market-oriented construction and layout of energy storage projects may be the key to policy design in the future.
03 Electricity Market
Ancillary service market reform is on the horizon
It will become an important breakthrough in the diversification of energy storage revenue
The combined frequency regulation of fire and storage, which once led the commercial application of energy storage in China, will slow down in 2021. The traditional FM market is becoming more and more saturated, Zhejiang and Jiangsu projects are advancing tentatively, and the development of joint FM with fire and storage needs to wait for the reform of new regional market policies and mechanisms.
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04 Power generation side
The general trend of new energy + energy storage
Energy storage becomes the standard for the development of wind and solar power plants
Since 2021, under the background of the increasing pressure of new energy peak regulation and consumption, the configuration of energy storage has become an essential requirement for the development of wind and solar projects in most provinces. According to the 2021-22 wind power and photovoltaic project development and construction plans released by various places, the energy storage configuration capacity ranges from 10-30%, and the energy storage time ranges from 1-4 hours.
In 2021, nearly 20 provinces and cities have issued requirements for new wind power and photovoltaic projects to configure energy storage, and the planned scale of energy storage with new energy has exceeded 30GW. If all are successfully completed, the 2025 installation target will be successfully achieved. However, how to use and profit is still the main dilemma of new energy + energy storage. According to a wind power company, one of its wind farm + energy storage projects only uses dozens of times a year.
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