Current Situation of Overseas Energy Storage System

Since 2022, the global energy storage market has begun to explode. In that year, the global household storage installed capacity reached 15.6GWh, a year-on-year increase of 136.4%; the European market household storage installed capacity reached 5.7GWh, a year-on-year increase of 147.6%.

Overseas energy storage is expected to begin a "blowout" period in the second half of 2024.

In July, Tesla, Samsung SDI, and Fluence signed large energy storage orders of 15.3GWh, 6.3GWh, and 2.2GWh, respectively, totaling more than 20GWh of energy storage orders. There is a strong "rush to install" signal in the US market. The "Belt and Road" markets such as the Middle East, South America, and Southeast Asia also show great potential.

In terms of growth rate, the energy storage market in most regions has a growth rate of more than 30%, the Middle East (50-70%)> Southeast Asia (40-50%)> South America (30%-50%)> Europe (30-40%).

Similarly, Australia has become a new "dark horse" in the energy storage market due to the instability of the power grid and the acceleration of energy transformation. As of April 2024, the total capacity of large-scale battery energy storage projects in operation and construction in Australia reached 4.9GW, a year-on-year increase of 218%, and more projects have entered the construction stage from waiting to be built.

In addition, Chile has also shown strong energy storage potential. Chile has pledged that renewable energy will account for 70% of total energy consumption by 2030 and achieve carbon neutrality by 2050.

In fact, after the excavation of many companies, the global energy storage market has further released demand. For example, in the first half of this year, in addition to the traditional European and American countries, the orders disclosed by Chinese companies also include Saudi Arabia, India and other countries. Energy storage demand is also being further released.

In recent years, governments have promoted the development and application of energy storage technology by formulating a series of incentive policies, such as tax exemptions and subsidies. At the same time, in order to reduce external dependence, Europe is accelerating the localization of the energy storage industry chain. In the next few years, with the continuous advancement of energy storage technology and the further reduction of costs, energy storage module will play a more important role in alleviating the problem of negative electricity prices and energy transformation.