① Domestic energy storage capacity is 48.70 GWh in 2023, higher than previous expectations. Domestic installed capacity is expected to exceed 65 GWh in 2024, with a growth rate of more than 30%. ② CITIC Securities said that in a situation where the long-term development trend of the energy storage industry is clear, it is concerned about energy storage companies that continue to break through in specific markets, including key component companies, related material companies, and energy storage system integrators.
According to the CITIC Securities Research Report, the National Energy Administration announced the development of new energy storage in China in 2023, and recently announced the list of pilot demonstration projects for new energy storage. Domestic energy storage capacity is 48.70 GWh in 2023, higher than previous expectations. Domestic installed capacity is expected to exceed 65 GWh in 2024, with a growth rate of more than 30%.
China's current demand for energy storage on the power generation side is mainly driven by mandatory allocation and storage policies. The distribution ratio in various regions is generally 10-20%, while actively exploring grid-side independent energy storage models. Under the ideal/conservative scenario, Shanxi Securities expects the cumulative scale of China's new energy storage to reach 138.4/97.0 GW in 2027, and the CAGR will be 60.3%/49.3% in 2027. The US IRA Act strengthens ITC policy subsidies, enhances the economy of energy storage in front of the table, and maintains a high market boom. It is estimated that between 2023-2027, the US will add 74.2 GW/241 GWh of installed energy storage capacity, and the 5-year compound growth CAGR for installed energy storage power and installed capacity will reach 75.1% and 83.4%, respectively. CITIC Securities said that in a situation where the long-term development trend of the energy storage industry is clear, it is focusing on energy storage companies that continue to break through in specific markets, including key component companies, related materials companies, and energy storage system integrators.
According to the Finance Federation's theme library, among the relevant listed companies:
Relying on self-developed technologies in the fields of new energy power inverters, energy storage conversion, and energy management, Goodway provides photovoltaic energy storage inverters with a stand-alone power of 3 kW to 100 kW, and provides a series of solutions for microgrids, industrial and commercial energy storage.
Shenghong Co., Ltd.'s new energy conversion equipment products mainly include energy storage converters, energy storage system electrical integration, optical storage all-in-one machines, etc. This type of product mainly solves bidirectional power conversion and transmission between energy storage batteries and power grids.