Weekly Update on the Energy Storage Industry: Over 30 New Products Launched and 20 Companies Respond to US Tariff War

Last week (April 7-13), the activity level in the energy storage industry continued to rise, showcasing significant developments across various sectors.

Orders and Performance: Colin Electric secured a contract for a 38MWh energy storage project in the Maldives. Tesla reported an additional 10.4GWh of energy storage installations in Q1. Haier New Energy entered into a procurement agreement worth 500 million yuan for energy storage systems. EVE Energy signed an 11GWh cooperation order, while Guoxuan High-Tech finalized multiple energy storage projects totaling 444MWh. Additionally, YN Energy signed a major deal for over 2GWh of energy storage in Japan.

Investment and Financing: Minshan Environmental Energy is aiming for a listing on the Beijing Stock Exchange with plans to raise approximately 295 million yuan to bolster its energy storage and recycling projects.

New Products: Over 30 leading companies in the energy storage sector, including Nanfu Power, Haichen Storage, Zhiguang Storage, and Envision Energy, have launched new products. Notable releases include a 783Ah solid-state battery and large-capacity energy storage systems of 6.25MWh and 8MWh, which are setting new trends in energy storage. Power conversion systems (PCS) have also been enhanced to accommodate high-capacity batteries of 500Ah, 600Ah, and even 700Ah.

Projects: The 200MW/400MWh energy storage station project in Shucheng, Anhui, has been signed. China Electric Power Construction signed a contract for a 200MW/800MWh storage project. Tibet has connected its largest solar and storage generation project to the grid. Trina Solar partnered with Datong County in Qinghai Province to build a 200MW/800MWh grid-side energy storage station. Huaneng’s Huashan shared storage project has also commenced construction, with a scale of 200MW/400MWh.

Collaborations: Pylon Technologies signed a strategic cooperation agreement with Suzhou Shengli New Energy to enhance commercial energy storage asset operations. Cair Energy and Mai Mi Electric have also established a strategic partnership. Rongjie Energy has partnered with Linyang Storage for collaborative projects across various sectors, including energy storage and electric vehicle charging.

New Developments: Nanfu Power has unveiled the CENTERL ULTRA, a 6.25MWh liquid-cooled energy storage system, and the CENTERLMAX, an 8.338MWh unit that sets a new industry record in energy density. Haichen Storage introduced the ∞Cell 587Ah battery, which will begin global sampling in April 2025, with mass production expected later that year. Envision Energy showcased a 530Ah storage cell, leading the market in large-capacity energy cell technology.

Orders and Performance Highlights: Colin Electric secured a contract for the Maldives’ 38MWh storage project worth nearly 130 million yuan. Tesla’s Q1 report revealed a 10.4GWh increase in energy storage installations, marking a 156.6% year-on-year growth. EVE Energy has signed multiple orders totaling 61GWh this year. Haier New Energy and China Construction Investment Leasing have initiated a collaborative model for energy storage stations, targeting an initial development of 100MWh. Guoxuan High-Tech has developed several projects totaling 444MWh across various locations.

International Developments: More than 20 publicly listed energy storage companies in China have responded to the U.S. tariff policies, indicating that the impact on their operations is limited due to low exposure to the U.S. market. Swiss gravity storage company Energy Vault signed a contract with India for over 30GWh of storage solutions. Germany has installed over 1.8 million home solar storage systems, with a total capacity of 15GWh. Australian Labor Party leader Anthony Albanese promised a $2.3 billion subsidy for home battery systems if re-elected. Copia Power has secured $1.71 billion in financing for its large solar and storage project in Arizona.