The energy storage industry welcomes good news again. On the evening of November 6th, the Ministry of Industry and Information Technology publicly solicited opinions on the "Action Plan for High Quality Development of New Energy Storage Manufacturing Industry (Draft for Comments)", which pointed out that efforts should be made to expand effective demand, promote the efficient linkage development of demand driven supply and supply created demand. Guide upstream and downstream stable expectations, improve supporting systems, support upstream and downstream enterprises in the industrial chain to strengthen supply and demand docking, and promote the formation of a collaborative linkage mechanism for the integrated development of the industrial chain. Guide various regions to scientifically and orderly layout new energy storage manufacturing projects, rely on research institutions to carry out industry operation monitoring and early warning, and prevent low-level redundant construction. Previously, on November 5th, the Guangzhou Municipal Bureau of Industry and Information Technology issued the "Implementation Plan for Promoting the Construction of New Energy Storage Industrial Parks in Guangzhou", aiming to achieve a revenue of over 60 billion yuan for the city's new energy storage industry by 2025, form a billion yuan level industrial cluster by 2027, a 300 billion yuan level industrial cluster by 2030, and a 500 billion yuan level industrial cluster by 2035. Streamlining the business model and improving the economic efficiency of energy storage projects are of paramount importance. Recently, the national and local governments have issued a series of relevant documents and policies to support the development of new energy storage, which will help improve the profit model of energy storage and accelerate the marketization process Yuan Shuai, Deputy Secretary General of Zhongguancun Internet of Things Industry Alliance, said in an interview with reporters. The application scenarios continue to expand, and new energy storage technologies refer to energy storage technologies that mainly output electricity and provide services to the outside world, in addition to pumped storage. According to data disclosed by the National Energy Administration, in 2023, China's wind and solar power generation will exceed the daily electricity consumption of urban and rural residents. However, new energy generation methods such as wind and solar often experience fluctuations. To address this issue, new types of energy storage are gradually gaining attention. New energy storage, as a preferred means of regulating electricity across regions, seasons, and even cross-border transactions, can effectively improve the efficiency of the power grid. Since the beginning of this year, with the continuous improvement of the level of new energy storage scheduling and application, the regulating role of new energy storage has been continuously enhanced Associate Professor Wu Wei from the China Energy Policy Research Institute at Xiamen University stated in an interview with reporters. Yu Fenghui, a specially invited researcher at the China Financial Think Tank, stated in an interview with reporters that currently, China's new energy storage industry is in a rapid development stage, with strong policy support and strong market demand. Support policies have been introduced from the central to local levels to promote the application and development of energy storage technology. Recently, at a press conference held by the National Energy Administration, Bian Guangqi, Deputy Director of the Energy Conservation and Technology Equipment Department of the National Energy Administration, introduced that the National Energy Administration actively guides the scientific construction and rational use of new energy storage in various regions. On the basis of traditional power supply guarantee methods, it promotes the full play of the "super power bank" effect of new energy storage, and contributes key strength to the peak period of power supply guarantee. From March to April this year, the National Energy Administration successively issued the "2024 Energy Work Guidance" and other documents. At the same time, local governments have also closely followed policies and launched relevant plans. In addition to the recent news of Guangzhou's plan to build a new energy storage industrial park, in June, Beijing released the "Beijing Carbon Peak Implementation Plan", proposing to promote the research and application of new energy storage technologies. In addition, from August to October, Liaoning, Shanghai, Chongqing and other places have successively released relevant plans to promote the development of new energy storage. With the support of policies, the scale of new energy storage installations has grown rapidly, technological innovation continues to break through, and application scenarios continue to expand. At present, the new energy storage technology route in China is still dominated by lithium-ion battery energy storage, accounting for over 95%, and the engineering application of various new technology routes is accelerating. Since 2024, multiple 300 megawatt level compressed air energy storage projects and megawatt level flywheel energy storage projects have started construction, and new technologies such as gravity energy storage and liquid air energy storage have been implemented Yuan Shuai said. As of the end of September this year, China has built a new type of energy storage with a total installed capacity of over 58 million kilowatts, becoming an important component of the power system. It can be seen that the new energy storage technology has diverse types and flexible installed capacity, and has application scenarios on the power supply side, grid side, etc., which is more suitable for the needs of building a new type of power system Wu Wei said. In addition, the localization of new energy storage technologies in China has achieved leapfrog development, and the independent research and development and manufacturing capabilities of key components have significantly improved, providing solid technical support for the rapid development of the industry Zheng Lei, Chief Economist of Samoyed Cloud Technology Group, stated in an interview with reporters. With the expansion of new energy installed capacity and the continuous improvement of the electricity market, the demand for energy storage continues to grow. The continuous progress of energy storage technology and the reduction of equipment costs have led to the continuous improvement of the economy and feasibility of energy storage projects. In the future, with the advancement of technology and the expansion of application scale, the cost of energy storage is expected to further decrease, "said Yu Fenghui. The diversification of new energy storage paths and the broad prospects of the energy storage market have attracted numerous capital "cross-border", including many new energy enterprises. CATL stated that the profitability levels of domestic and overseas markets are similar, and the growth rate of energy storage business is faster than that of power business. Tianhe Solar stated that the integration of light and energy storage is an inevitable trend in the industry's development, and the company will firmly develop the energy storage sector in the future, creating a second growth curve. Data shows that in the first three quarters of 2024, the company's energy storage business grew rapidly, with shipments exceeding 2.5GWh and a year-on-year growth rate of nearly 300%. This year, the company will make efforts in overseas markets, and Europe has already shown results. In the future, we will strive to break through the high profit market of the United States Tianhe Solar stated that the energy storage sector will continue to experience high growth in the coming years. Shangneng Electric also has a forward-looking layout for sodium ion new energy storage. Regarding project progress, the company stated that it has landed the Datang Hubei 100MW/200MWh sodium ion new energy storage power station project. Camel Group stated that the company has continuously carried out iterative upgrades and optimizations of energy storage products, completed the acceptance work of the Three Gorges Power Cooperation Project, and delivered products for other projects. The new energy low-carbon industrial park is expected to start equipment and production line debugging work by the end of this year. Although the development of new energy storage has broad prospects, it also faces challenges, mainly including technological maturity, policy and market environment, cost and economy, regional development imbalance, and talent and research and development. These challenges require efforts from various aspects such as policy support, technological innovation, and industrial cooperation to promote the rapid development and widespread application of new energy storage Cao Zhe, Chief Investment Officer of Avin Smart, stated in an interview with reporters. (New Society)