Independent energy storage may become a mainstream

Independent energy storage may become a mainstream in the future

The large-scale development of energy storage is imperative, and the independent energy storage market has huge potential.
 
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In the future, energy storage will restructure the power system. In the short term, energy storage can stabilize power imbalances, and in the long run, energy storage can stabilize energy imbalances.

Industry insiders believe that in order to realize the large-scale development of China’s energy storage industry, in addition to continuous technological advancement, it is also necessary to improve policy mechanisms and accelerate the construction of electricity markets.

Independent energy storage will become mainstream

Since the beginning of this year, China’s new energy sources such as wind power and photovoltaics have developed strongly. The latest data show that as of the end of October, the cumulative installed capacity of wind power and photovoltaics in the China ountry was 350 million kilowatts and 360 million kilowatts, an increase of 10.6% and 29.2% year-on-year, respectively.

According to incomplete statistics, as of October this year, 27 provinces across the country have clarified plans for energy storage installations, with a total scale of 73.6 GW. From the perspective of provincial planning, most provinces encourage the development of new energy plus energy storage application models, and encourage the construction of centralized shared energy storage and grid-side energy storage demonstration projects.

Energy storage industry technicians said, “With the advancement of the ‘double carbon’ goal and the continuous increase in the proportion of renewable energy, the proportion and duration of energy storage configuration in the power system will continue to increase, and the construction of large-scale energy storage has become the general trend. “

27 provinces across the China country have clarified plans for energy storage installations, with a total scale of 73.6 GW

According to industry insiders, the development of energy storage in the future will go through three stages. Before 2030, 2-3 hours of new energy storage projects will be the mainstay, and the technical route will be mainly lithium iron phosphate; After 2030, as a large number of planned pumped storage power plant projects are gradually put into operation, pumped storage will play an important supporting role;

After 2035, when the advantageous pumped storage resources are exhausted, new long-term energy storage of more than 4 hours will become the main force in the market, including compressed air energy storage, liquid flow energy storage and hydrogen energy.

Independent energy storage will show explosive growth since 2021. Independent energy storage will be the mainstream development trend in the future, and in the first half of 2022, China’s planned independent energy storage projects under construction have reached 45 GW, accounting for more than 80% of the planned new energy storage projects under construction. It is predicted that in the next five years, the average annual installed capacity of independent energy storage will reach 7.2 GW, and the market potential is huge.

In the first half of 2022, China's planned independent energy storage projects have reached 45 GW

Reasonable scale is the key to the development of energy storage

While energy storage has entered the fast lane of development, it is also necessary to clearly realize that this industry still faces many challenges. First of all, the policy mechanism is not perfect, which directly affects the profitability of independent energy storage projects and the stability of income. Secondly, the source of income from energy storage is relatively single.

The construction of China’s electricity market is still in its infancy, and relevant policies and rules are still incomplete. Medium and long-term transactions, spot transactions and ancillary service markets, inter-provincial and intra-provincial market connection mechanisms are not mature enough, and multiple value evaluation and identification of energy storage systems are still relatively difficult.

Finally, there is a large demand for funds for energy storage projects during the construction period, but the supply of funds matching private investment entities during the construction period is limited, and the funds and project progress are misaligned. This is also an important reason why the current energy storage project planning scale is relatively large, but the actual operation is relatively small.

Stakeholders suggested that for imperfect policies and mechanisms, we should summarize the independent energy storage policies of advanced provinces and the experience of actual projects put into operation, combined with the actual situation of each province, fully consider the interests of local governments, power grid enterprises, owners of new energy stations, and energy storage investors, etc., to achieve a win-win situation for all parties.

Reasonable scale is the key to the development of energy storage

For the problem of relatively single source of income, the most effective solution is to solve it by establishing a multi-level unified power market system with a high degree of marketization. Regarding the unbalanced supply and demand of private investors during the construction period, it is recommended to choose a financial institution with strong industrial financial capabilities, preferably a financial institution with successful investment in energy storage projects during the construction period.

According to the characteristics of different income sources in different regions, the financing plan is designed to match the financial support for independent energy storage during the construction period. China Power Grid personnel believe that in the new power system, power shortage and power abandonment coexist, and the proportion of new energy power in the total balance is relatively high, which makes the process balance more difficult.

In addition to power support from the whole to the part, there are also peak load sharing, etc., and inter-provincial power flow exchanges are more frequent. The application of energy storage is of great significance to system security, supply guarantee and consumption. However, the current development of the energy storage industry has the problem of how to determine a reasonable scale.

Large-scale energy storage will bring huge pressure on electricity price sharing. Therefore, energy storage planning should adopt an iterative optimization method at the national, grid, and provincial levels to determine the scale. It is necessary to analyze and calculate the configuration requirements of various types of energy storage, so that all types of energy storage can find more economical working positions.

Development of new power system

In the eyes of industry insiders, the construction of a new power system is a long-term systematic project involving extensive and far-reaching influence, and energy storage is one of the important supporting technologies. It is necessary to study the relationship between it and the new power system in depth, and promote its development from both policy and technology aspects.

Relevant personnel in the China Power Grid Technology Center believe that in addition to improving the technical standards for large-scale energy storage, the needs of different regions should also be considered, and the optimization of large-scale energy storage control performance should be carried out to improve the security and stability of the new power system.

The new power system reconstructs the energy system based on new energy, power grid, energy storage, and active load

In a new power system with a high proportion of new energy and large-scale energy storage, the number of power sources is large, the characteristics are complex, and the distribution is wide. It is necessary to carry out the balance theory research on the probabilization of new power systems that adapt to the access of energy storage power sources. In-depth exploration from model construction, zoning optimization, algorithm solving, etc., to achieve large-scale balance and coordination of efficient coordination of source network, load and storage.

The Energy Storage Committee of the China Energy Research Society stated that the distributed installation of energy storage on the power generation side and the load side can balance new energy output and load curves. Transform the power balance of the system into power balance, reduce the transmission lines invested to meet the peak load, and make the three links of source, network and load develop in a coordinated and win-win manner.

The new power system is an energy system restructured with new energy, power grid, energy storage, and active load. Only by satisfying the mechanism of incentive compatibility can the vitality of each link be activated, the efficient and accurate interaction of network source, load and storage be stimulated, and the coordinated development of new energy and energy storage be stimulated.

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