New energy storage is an important equipment foundation and key supporting technology for building new power systems and promoting green and low-carbon energy transformation. It is also an important support for achieving carbon peak and carbon neutrality goals.
Since the 13th Five Year Plan period, China's new energy storage industry has been in a transitional stage from research and development demonstration to early commercialization. Significant progress has been made in technology and equipment research and development, demonstration project construction, business model exploration, and policy system construction. The market application scale has steadily expanded, and its supporting role in energy transformation has begun to emerge.
The Implementation Plan for the Development of New Energy Storage in the 14th Five Year Plan proposes that new energy storage is an important technology and basic equipment for building a new power system, an important support for achieving carbon peak and carbon neutrality goals, and an important field for promoting new domestic energy formats and seizing new international strategic heights. By 2025, new energy storage will enter the stage of large-scale development from the initial stage of commercialization, and have the conditions for large-scale commercial application. Among them, the performance of electrochemical energy storage technology has been further improved, and the system cost has been reduced by more than 30%; The engineering application of new energy storage technologies such as steam extraction and energy storage for thermal power and nuclear power units, relying on conventional power sources, and compressed air energy storage technologies at the hundred megawatt level. By 2030, the comprehensive market-oriented development of new energy storage will be achieved.
Since 2019, the global energy storage market has continued to expand in size. As of the end of 2021, the cumulative installed capacity of global energy storage reached 209.4 GW, a year-on-year increase of 9.6%. The newly added installed capacity was 18.3 GW, a year-on-year increase of 181.5%. The growth rate of China's energy storage market is higher than the global average. It is expected that by the end of 2025, the cumulative installed capacity of electrochemical energy storage will reach 70GW, with a CAGR of 88.9%. Electrochemical energy storage accounts for nearly 90%, and under the promotion of new energy distribution and storage policies on the power side, the Chinese energy storage market has ushered in a rapid development opportunity. It is expected that by the end of 2025, the installed capacity of new energy storage in China will reach 53GW.
With the continuous increase of renewable energy and the development of energy storage technology in the power system, the requirements for the reliability and efficiency of energy storage converters in the power system are constantly increasing. The performance of energy storage inverters is directly related to the energy conversion efficiency, energy storage effect, and smooth operation of the power system.
The demand of power system operators for real-time monitoring of the status of energy storage inverters is increasing, in order to detect potential problems in advance, reduce energy conversion losses, extend the life of key components, and ensure the sustainability of energy storage in the power system.
With the expansion of the power system, the requirements for the safety, reliability, and stability of energy storage systems are constantly increasing. Therefore, the industry needs an efficient online monitoring solution to meet these demands.
The energy storage inverter is a core component in the power system, responsible for converting the DC power of energy storage devices such as batteries into AC power and achieving energy output or input. The application scenarios of this solution include power grid peak shaving, energy storage power stations, and distributed energy systems. By monitoring and analyzing the performance of energy storage inverters in real time, it ensures the stable operation of the system and efficient energy storage.