Energy storage lithium battery shipments will maintain strong growth momentum in 2022. With the implementation of the “dual carbon” policy and the accelerated construction of 5G base stations, the demand for energy storage batteries will increase significantly in the future.
Energy storage technology: Electrochemical energy storage has the highest installed capacity growth rate
Energy storage technology mainly includes five categories: mechanical energy storage, electrochemical energy storage, chemical energy storage, electromagnetic energy storage and thermal energy storage. Mechanical energy storage uses pumped water storage, and electrochemical energy storage uses lithium-ion batteries. According to CNESA statistics, as of the end of 2022, the cumulative installed capacity of energy storage projects in operation worldwide was 237.9GWh, and China’s cumulative installed capacity was 59.8GW, accounting for 25% of the total global market. Among them, electrochemical energy storage ranked second at 13.1GW /27.1GWh.
At the same time, new energy storage is the energy storage method with the largest installed capacity growth. According to CNESA statistics, in 2022, the new scale of new energy storage will reach a record high of 7.3GW/15.9GWh, with the power scale increasing by 200% year-on-year and the energy scale increasing by 280% year-on-year. The newly installed power of new energy storage accounts for 44.24% of China’s newly installed power of electric energy storage.
In the new energy storage market, lithium iron phosphate batteries are more popular
The charging and discharging process of lithium iron phosphate (LiFePO4) battery mainly relies on the migration of lithium ions. Compared with other lithium batteries such as ternary materials, lithium iron phosphate battery technology is relatively mature, and its structure is still relatively stable even at high temperatures. Lithium iron phosphate has It far exceeds the safety and stability of other cathode materials and meets the stringent safety requirements of large-scale energy storage projects.
The scale of global electrochemical energy storage continues to grow, and lithium-ion batteries dominate the electrochemical energy storage market. By the end of 2022, the cumulative installed capacity of electrochemical energy storage in the world has reached 45.7GW, of which lithium-ion batteries have a cumulative installed capacity of 43.2GW, accounting for 94.4% of the power scale. Judging from the global cumulative installed capacity structure of electrochemical energy storage, lithium-ion batteries occupy an absolutely dominant position in the cumulative installed capacity of electrochemical energy storage.
Energy storage lithium battery supply capacity is expected to increase
According to SMM statistics, by the end of 2023, the global planned production capacity of lithium-ion batteries will reach 3146.2GWh, of which the planned production capacity in Asia is 2670.36GWh, accounting for 84.9%.
The Tesla Energy Storage Super Factory project is located in the Lingang New Area of Shanghai. It is planned to start construction in the third quarter of 2023 and go into production in the second quarter of 2024. The initial plan for the production of Megapack is to produce up to 10,000 commercial energy storage batteries per year. The energy storage scale is nearly 40GWh. After the project is put into operation, it will further increase the supply capacity of energy storage lithium batteries. Therefore, China still has a considerable market gap and room for export growth.