The transformation of the global energy structure is quietly accelerating, and behind this change, energy storage technology is gradually becoming the core pillar of building a new power system. With the rapid development of renewable energy such as photovoltaics and wind power, the role of energy storage has become increasingly important and has become a key force in promoting a low-carbon future. It is not only the key to cracking the instability of new energy, but also an important guarantee for the stability of the power grid and the sustainable development of the green economy.
The rise of new energy and new challenges facing the power system
The concept of “energy transformation” is no longer an empty slogan, but a reality faced by countries around the world. In recent years, the development of renewable energy such as solar energy and wind energy has been rapid, and the scale of energy installed capacity has continued to increase worldwide. According to the International Renewable Energy Agency (IRENA), by 2030, the proportion of power generation from new energy such as photovoltaics and wind power will increase from 28% in 2023 to 68%. This change will inevitably bring unprecedented challenges to the global power system.
Renewable energy, such as photovoltaics and wind power, has significant intermittent and volatile characteristics. This means that their power generation time and power demand do not fully match, and when climatic conditions are not ideal, the power supply may be unstable. Traditional power systems rely on fossil fuels and have strong regulation capabilities and stability, but the volatility of new energy sources puts the existing power grid under greater pressure. In order to ensure the stability and flexibility of power supply, it is particularly urgent to build a new power system with high flexibility.
Energy storage technology: the “stabilizing force” to solve energy fluctuations
In this energy revolution, energy storage technology plays an indispensable role. As an important bridge between new energy power generation and power grids, power energy storage systems can store excess electricity and release it during peak demand, thereby regulating the imbalance between power supply and demand. It not only enhances the flexibility of the power system, but also improves the safety and economy of the power grid.
Unlike the regulation methods of traditional coal-fired power generation or natural gas power generation, energy storage technology can respond to changes in power demand at a faster speed and has higher flexibility. In the current context of the increasing proportion of new energy, energy storage has become the key to supporting the stable operation of new power systems. In particular, electrochemical energy storage, with its advantages of no need for special geographical conditions, short construction period, and fast response speed, has gradually become the core technology of the global energy storage industry.
Global policies promote the accelerated development of the energy storage industry
The rapid development of energy storage technology is inseparable from the policy support of various governments. In the process of global energy transformation, electrochemical energy storage has become an important technology and infrastructure to support the new power system. Countries have introduced support policies to promote the healthy development of the energy storage industry.
The European Union, Germany, Italy and other countries have also introduced measures including electricity price subsidies, energy repurchases, tax incentives, etc. to help the vigorous development of the energy storage industry. my country has also increased its support for the energy storage industry in terms of policies.
Current status and prospects of energy storage market development: from “parity” to “popularization”
The development of the energy storage industry not only depends on policy promotion, but also on the maturity of the market and technological progress. In Europe and the United States, due to the maturity of the power market, the profit model of energy storage projects has become diversified. The energy storage projects in the United States are mainly large-scale energy storage before the meter, mainly through participating in the peak-valley arbitrage of the electricity spot market to make profits, while providing power auxiliary services such as frequency regulation. In Europe, especially in Germany and other countries, the configuration of household energy storage systems has also become an important choice for household users, which can not only reduce household electricity bills, but also obtain benefits by participating in the flexibility market.
The global energy storage market will usher in explosive growth in the future. It is estimated that by 2030, the global energy storage installed capacity will increase from 189.73GWh in 2023 to 2855.18GWh, with an annual compound growth rate of more than 47%. As the core technology of the new power system, electrochemical energy storage has broad market prospects and will play an increasingly important role in the future energy transformation.
Energy Transformation: Energy Storage Brings Hope for a Low-Carbon Future
The rapid development of energy storage technology marks a new stage in the transformation of the global energy system. From ensuring the flexibility and security of the power system to promoting the balance between new energy and traditional energy, energy storage will play an increasingly important role in the future power market and provide a solid foundation for a green and low-carbon future for the world.
