The energy storage industry recently held a discussion to address the issue of excessive competition, potentially driving the industry chain back to a high growth trend. Following self-regulatory actions in the photovoltaic sector, the photovoltaic inverter and energy storage industries are expected to take similar steps.
According to sources, the China Photovoltaic Industry Association organized a closed-door meeting focused on preventing “involution” or detrimental competition within the photovoltaic inverter and energy storage sectors. This meeting, attended by executives from over 20 leading companies, included discussions on initiatives for healthy development in these industries. Notable participants included Sunpower, Huawei, CRRC, CATL, Yiwei Lithium Energy, GoodWe, Greewatts, Jinlang Technology, Shuneng Electric, Chint, Tebian Electric, Hemai, Hewei, Dewei, Shouhang New Energy, Yuneng Technology, and Envision.
In February, China’s new energy storage installations reached a capacity of 1.24GW/2.89GWh, marking a year-on-year increase of 153.5%. The bidding scale for energy storage systems continued its rapid growth, with a total scale of 4.6GW/14.9GWh, reflecting a year-on-year growth of 49%. According to a report from China Galaxy, energy storage remains vibrant, with a projected cumulative installed capacity compound annual growth rate (CAGR) of 37% from 2023 to 2030, indicating both high growth potential and certainty. Long-duration storage and grid-connected energy storage are emerging as significant areas within the new power system.
As per the thematic database from Caixin, among related listed companies:
- Dewei Co., Ltd. is witnessing sustained improvement in grid connection demand across markets in Brazil, India, Germany, and other regions during the first half of 2024. The surge in demand for residential energy storage in emerging markets such as Southeast Asia and the Middle East is benefiting the company due to its leading position in markets across Asia, Africa, and Latin America.
- GoodWe leverages its self-developed technologies in photovoltaic inverters, energy storage converters, and energy management to offer solar energy storage inverters with capacities ranging from 3kW to 100kW, along with a series of solutions for microgrids and commercial energy storage.
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