Global energy storage market situation and data analysis report in 2021

At the policy level, from the perspective of the development and application of energy storage around the world, countries mainly cultivate the development environment of the energy storage market by improving the market mechanism and investing in fiscal and taxation support.

For example, from the perspective of China’s energy storage support policies, there will be as many as 275 national and local energy storage policies issued intensively in 2021.

At the standard level, a total of 230 energy storage standards will be released in 2021. Among them, there are 68 global international standards and 162 Chinese standards.

From the perspective of the development direction of energy storage, the development of new long term energy storage technology is the most important research and development direction of energy storage storage technology. Gravity energy storage, air battery, iron-chromium flow battery, etc. Strengthen technological innovation and development reserves for future industrialization.

The installed power of the global energy storage market in 2021

The installed power of the global energy storage market is 205.3 GW, and the installed power of electrochemical energy storage is 20.4 GW, accounting for 10.05%. Among them, the installed power of pumped storage is 177.4 GW, accounting for 86.42%; The installed power of compressed air energy storage is 1863.8 MW, accounting for 0.91%.

The installed power of flywheel energy storage is 967.5 MW, accounting for 0.47%; the installed power of electrochemical energy storage is 21.1 GW, accounting for 10.30%; The installed power of heat and cold storage is 3881.0 MW, accounting for 1.89%; the installed power of hydrogen energy storage is 28.0 MW, accounting for 0.01%.

Proportion of installed power of global energy storage technology

In 2021, the global installed capacity of electrochemical energy storage will be 21.1 GW. Among them, the installed capacity of lithium-ion battery energy storage technology is 19.85 GW, and the power scale accounts for 93.9%;

The installed capacity of lead-acid battery energy storage technology is 457.0 MW, and the power scale accounts for 2.2%; The installed capacity of sodium-based battery energy storage technology is 431.7 MW, and the power scale accounts for 2.0%; The installed capacity of flow battery energy storage technology is 257.1 MW, and the power scale accounts for 1.2%; The installed capacity of supercapacitors is 39.8 MW, and the power scale accounts for 0.2%; The installed capacity of other electrochemical energy storage technologies is 93.1 MW, and the power scale accounts for 0.5%.

Global new electrochemical energy storage exceeds 7GW

In 2021, the cumulative installed capacity of global electrochemical energy storage projects has exceeded 21 GW, and the growth will reach 7,536.2 MW in 2021, exceeding 7 GW for the first time. Compared with 2020, the installed power capacity in 2021 will increase by 55.4% year-on-year, and the installed power capacity in the four years from 2018 to 2021 will be 16.9GW, accounting for 80%.

Cumulative growth of global electrochemical energy storage projects

The power supply side first to bear the brunt

In the global electrochemical energy storage market in 2021, the installed power capacity of new energy + energy storage, power-side auxiliary services, grid-side energy storage, distributed and micro-grid, and user-side peak-shaving and valley-filling scenarios will be 6,999.9 MW and 7,275.9 MW, respectively. , 6015.9MW, 943.7 MW, 1412.7 MW, accounting for 30.9%, 32.1%, 26.6%, 4.2%, and 6.2%.

Global electrochemical energy storage project application scenario power installation

Typical countries in the global electrochemical energy storage market

Typical countries in the global electrochemical energy storage market include the United States, South Korea, the United Kingdom, Australia, Japan, and Germany. MW.

Typical countries in the global electrochemical energy storage market

US

In 2021, the installed capacity of electrochemical energy storage in the United States will be 6361.7MW, an increase of 115% from 2962.8MW in 2020. The installed capacity of application scenarios is ranked from high to low:

Grid-side energy storage, power-side auxiliary services, new energy + energy storage, user-side peak-shaving and valley-filling, distributed and microgrids accounted for 35.3%, 33.9%, 31.1%, 5.0%, and 2.4%, respectively.

The technical route is dominated by lithium-ion batteries (lithium iron phosphate and ternary) (96.0%), the market demand for long-term energy storage systems (≥8h) is increasing, new flow batteries, water-based zinc-based batteries and other new Electrochemical energy storage technology also has certain applications.

Various application scenarios and technical installations of the electrochemical energy storage market in the United States

The major suppliers in the US energy storage market include China’s companies TESLA, NEC EnergySolutions, AES Energy Storage, Saft, EOS Energy Storage (zinc-air battery), etc., as well as external energy storage companies BYD (China), LGChem (South Korea), Samsung SDI (Korea), Kokam (Korea), Leclanché (Switzerland), Redflow (Australia).

Korea

The installed capacity of electrochemical energy storage in South Korea in 2021 is 2561.2 MW. The installed capacity of application scenarios is ranked from high to low: new energy + energy storage, grid-side energy storage, power-side auxiliary services, distributed and micro-grids, and user-side peak shaving Filling the valley, accounting for 43.5%, 29.6%, 13.3%, 12.8% and 1.1% respectively. The technical route is dominated by lithium-ion batteries (ternary and lithium iron phosphate), accounting for 99.3%, and supercapacitors with a proportion of 0.9%.

Various application scenarios and technical installations of the Korean electrochemical energy storage market

In the past three years, due to the frequent fire and explosion accidents of the energy storage system equipped with ternary lithium batteries, the new energy + energy storage market in South Korea has been greatly affected.

Most of the auxiliary services on the power supply side and energy storage on the grid side in South Korea are mainly purchased by power companies, providing a variety of services for the power grid. In terms of system integration, the main participating companies are LGChem, SamsungSDI, Kokam, and Maxwell Technologies.

UK

The installed capacity of electrochemical energy storage in the UK in 2021 is 1587.3MW, and the order of installed capacity in application scenarios is:

Power-side auxiliary services, grid-side energy storage, new energy + energy storage, user-side peak shaving and valley filling, distributed and microgrids accounted for 48.1%, 45.1%, 11.1%, 5.9%, and 0.2%, respectively. The technical route is dominated by lithium-ion batteries (ternary and lithium iron phosphate), accounting for 99.7%.

Various application scenarios and technical installations of the UK electrochemical energy storage market

Major companies participating in the UK electrochemical energy storage market include NEC Energy Solutions Inc. (US), LG Chem (South Korea), SamsungSDI (South Korea), BYD, Tesla (US), Younicos (Germany), etc.

Australia

In 2021, the installed capacity of electrochemical energy storage in Australia will be 1257.7MW. The order of installed capacity in application scenarios is as follows:

New energy + energy storage, grid-side energy storage, power-side auxiliary services, distributed and micro-grids, and user-side peak shaving and valley filling accounted for 54.6%, 39.7%, 9.5%, 5.4%, and 0.1%, respectively. The technical route is dominated by lithium-ion batteries (ternary and lithium iron phosphate), accounting for 99.4%.

Various application scenarios and technical installations of the Australian electrochemical energy storage market

Companies participating in the Australian electrochemical energy storage market include AES Energy Storage, Tesla, Lyon Group, and more.

Japan

The installed capacity of electrochemical energy storage in Japan in 2021 is 1149.8MW. The installed capacity of application scenarios is ranked from high to low: new energy + energy storage, power-side auxiliary services, user-side peak shaving and valley filling, distributed and microgrids, accounting for They were 62.1%, 43.6%, 3.1%, and 0.5%, respectively.

The technical route is dominated by lithium-ion batteries (ternary) and sodium-sulfur batteries, accounting for 77.2% and 19.8% respectively. Due to safety accidents and industrial bottlenecks, sodium-sulfur batteries no longer have market competitiveness.

Various application scenarios and technical installations of the Japanese electrochemical energy storage market

In terms of system integration, the main participating companies are Panasonic (Japan), Toshiba (Japan), Sumitomo Electric Industries Ltd. (Japan), NGK Insulators (Japan), LGChem (South Korea), etc.

Germany

In 2021, the installed capacity of electrochemical energy storage in Germany is 726.3MW. The installed capacity of application scenarios is ranked from high to low:

Power-side auxiliary services, grid-side energy storage, new energy + energy storage, distributed and microgrids, and user-side peak shaving and valley filling accounted for 61.8%, 15.9%, 17.1%, 9.9%, and 3.8%, respectively. The technical route is dominated by lithium-ion batteries (ternary and lithium iron phosphate) and lead batteries, accounting for 96.3% and 2.1% respectively.

Power-side auxiliary services, grid-side energy storage, new energy + energy storage, distributed and microgrids, and user-side peak shaving and valley filling accounted for 61.8%, 15.9%, 17.1%, 9.9%, and 3.8%, respectively. The technical route is dominated by lithium-ion batteries (ternary and lithium iron phosphate) and lead batteries, accounting for 96.3% and 2.1% respectively.

Despite a nearly sixfold year-on-year increase in grid-scale energy storage revenue in 2021, the German energy storage market is still dominated by residential energy storage systems.

Residential energy storage systems accounted for about half of the German energy storage market’s total revenue of 8.9 billion euros (9.51 billion US dollars) last year. Of the market revenue for residential energy storage, 1.6 billion euros came from battery energy storage systems (BESS) and EUR 3.9 billion came from thermal energy storage systems.

The segment grew by 25% overall: 23% for battery energy storage systems and 26% for thermal energy storage systems. Revenues from grid-scale energy storage systems rose by 25% to 2.3 billion euros, the bulk of which came from pumped hydro storage at 1.8 billion euros.

Various application scenarios and technical installations of the German electrochemical energy storage market

Companies participating in the German electrochemical energy storage market include LG Chem, SKInovation, Daimler, SamsungSDI, Innogy Company Belectric.

Residential battery energy storage system deployed by Sonnen, one of the German energy storage providers

However, revenue from grid-scale battery storage systems has grown rapidly from 78 million euros in 2020 to 441 million euros, a nearly six-fold increase. According to the German Energy Storage Association (BVES), battery storage projects benefit from higher system balancing costs. In both years, thermal energy storage system revenue accounted for 1% to 2% of the utility sector.

Fewer grid-scale energy storage systems will be deployed in 2021 than in 2020, in line with a study published by German academics in March, but the average size of energy storage projects has grown.

Drivers of the residential energy storage market include the popularity of solar power systems, which are no longer seen as a luxury given the energy crisis and the growth of electric vehicles.

Commercial and industrial projects also performed well, with revenue rising 36% to 1.94 billion euros in 2021, including 140 million euros in hydrogen projects, meaning it accounts for about 21% of the German energy storage market.

The growth in demand and customer awareness for storage deployments has also accelerated in the near term due to the impact of the Russia-Ukraine conflict on energy prices, with commercial and industrial battery storage provider Tesvolt saying its March orders rose nearly 200% year-on-year.

The installed power of energy storage market in China

In 2021, the installed power of China’s energy storage market will be 43.44 GW, ranking first in the world.

The installed power of pumped storage is 37.57 GW, accounting for 86.5%; the installed power of thermal and cooling storage is 561.7 MW, accounting for 1.3%; the installed power of electrochemical energy storage is 5117.1 MW, accounting for 11.8%;

Other energy storage technologies (here refers to compressed air and flywheel energy storage) accounted for 0.4% of the installed power.

China’s energy storage technology installed power ratio

In 2021, the installed capacity of electrochemical energy storage in China will be 5117.1MW/10498.7MWh.Among them, the installed capacity of lithium-ion battery energy storage technology is 4658.9MW/8254.2MWh, and the power scale accounts for 91.0%;

The installed capacity of lead-acid battery energy storage technology is 279.5MW/1632.2MWh, and the power scale accounts for 5.5%; The installed capacity of flow battery energy storage technology is 146.2MW/547.0MWh, and the power scale accounts for 2.9% The installed capacity of other electrochemical energy storage technologies (here refers to supercapacitors, nickel-metal hydride batteries, sodium-based batteries, and water-based batteries) is 32.5MW/65.2MWh, and the power scale accounts for 0.6%.

Global new energy storage capacity in 2021

In 2021, the world will add 13,091.0 MW of new energy storage capacity. Among them, the installed power of pumped storage is 5262.0 MW, accounting for 40.2%; the installed power of compressed air is 191 MW, accounting for 1.4%; the installed power of cold storage and heat storage is 100.0 MW, accounting for 0.8%; the installed power of electrochemical energy storage is 7536.2 MW, accounting for 57.6%.

Proportion of new installed energy storage capacity globally in 2021

In 2021, among the global electrochemical energy storage technologies, the installed capacity of lithium-ion battery energy storage technology will be 7516.0 MW, and the power scale will account for 99.73%; The installed capacity of lead-acid battery energy storage technology is 2.2 MW, and the power scale accounts for 0.03%;

The installed capacity of flow battery energy storage technology is 12.0 MW, and the power scale accounts for 0.16%; the installed capacity of other electrochemical energy storage technologies is 6.0 MW, and the power scale accounts for 0.08%.

Top 10 new global electrochemical energy storage markets in 2021

In 2021, the top 10 countries in the world’s new electrochemical energy storage market are: the United States (3398.9 MW), China (1844.6 MW), South Korea (500 MW), the United Kingdom (486.8 MW), Australia (372 MW), Ireland (354.5 MW) ), Japan (240.0 MW), Chile (112.0 MW), the Philippines (100.0 MW), France (61 MW), and the number of electrochemical energy storage projects in ten countries are 22, 131, 10, 7, 4, 5, 1, 1, 3, 1.

Top 10 countries in the world’s new electrochemical energy storage market in 2021

Chinese newly installed energy storage capacity

In 2021, the installed power of pumped storage in China will be 5262.0 MW, accounting for 71.1%; the installed power of electrochemical energy storage will be 1844.6 MW, accounting for 24.9%; The installed power of compressed air energy storage is 190.0 MW, accounting for 2.6%; the installed power of cold storage and heat storage is 100.0 MW, accounting for 1.4%.

In 2021, among the electrochemical energy storage technologies in China, the installed capacity of lithium-ion battery energy storage technology will be 1830.9 MW, and the power scale will account for as high as 99.3%; The installed capacity of lead battery energy storage technology is 2.2 MW; the installed capacity of flow battery energy storage technology is 10.0 MW; the installed capacity of other electrochemical energy storage technologies is 1.52 MW.

Proportion of new installed energy storage capacity in China in 2021

In 2021, China will add 146 new energy storage projects. Among them, the number of pumped storage projects is 5. There are 131 electrochemical energy storage projects. Among the electrochemical energy storage projects, there are 120 lithium-ion battery energy storage projects, 2 lead storage batteries, 5 flow batteries, and 6 other energy storage projects.

Distribution of installed power capacity and number of projects in China in 2021

In China’s electrochemical energy storage market, the installed power capacity of new energy + energy storage, power-side auxiliary services, grid-side energy storage, distributed and micro-grid, and user-side peak shaving and valley filling are 837.5 MW, 532.3 MW, 401.0 MW, 28.0 MW, 45.8 MW, and the number of projects in various scenarios is 40, 18, 12, 42, and 19.

Distribution of installed power capacity and number of projects in China’s new electrochemical energy storage market in 2021

Forecast of installed capacity of China’s chemical energy storage market

The annual installed capacity of electrochemical energy storage is expected to reach 12GW in 2025

By 2025, the annual installed capacity of electrochemical energy storage is expected to reach 12GW, and the cumulative installed capacity will reach about 40GW

From the perspective of the new power system construction goals (2021-2030) of the State Grid and the Southern Power Grid, in terms of new energy storage, it is expected that by 2025, the installed capacity of China’s new energy storage will exceed 50 million kilowatts.

However, considering the safety issues of new energy storage, the lag of energy storage price mechanism, and the shortage of new energy storage raw materials, there is a high probability that there will be a certain lag in the installed capacity of electrochemical energy storage power plants. We forecast the trend of China’s new energy storage market from 2020 to 2030.

By 2025, the annual installed capacity of electrochemical energy storage is expected to reach 12GW, the cumulative installed capacity will reach about 40GW, and more than 90% will be dominated by lithium-ion batteries, and lithium ion energy storage battery can refer to Top 5 electric energy storage lithium battery companies.

After 2025, taking into account the ambitious goal of achieving carbon peaking in 2030, the annual installed capacity of new energy power generation will maintain an average annual increase of 100GW, and the annual installed capacity increase of electrochemical energy storage will remain at 12-15GW. It is estimated that by 2030 In 2010, the installed capacity of electrochemical energy storage will reach about 110GW.

Forecast of installed capacity of China’s chemical energy storage market

In terms of pumped storage, according to the plan, it is estimated that by 2025, the installed capacity of China’s pumped storage will reach 60GW; by 2030, the installed capacity of China’s pumped storage will reach 130GW.

Interested can also take a look at the latest global energy storage Top 5 energy storage battery companies.