In recent years, energy storage technologies and equipment, including pumped storage and new energy storage technologies, have played a positive role in promoting the development and consumption of new energy and improving the flexibility of the power system. In the future, it is necessary to promote the efficient application and high-quality development of energy storage step by step by further developing technology research and development, improving market mechanism, and ensuring safety level. In the mountain canyon, the construction of Anhui Tongcheng Pumped-storage Power Station of the State Grid Xinyuan has been stepped up. The designed annual power generation of more than 2.1 billion kilowatt-hours can meet the power consumption of the whole society in Anqing, Anhui for two months; The national demonstration project of 100 MW advanced compressed air energy storage in underground caves is grid-connected in Zhangjiakou, Hebei Province. The project's core equipment localization rate is 100%, and 42000 tons of standard coal can be saved every year; In Zhangbei Grassland, the test of the ferrochrome liquid battery energy storage power station of the State Power Investment Corporation is busy. It can store all the six hours of photovoltaic power generation, and can operate normally even at minus 40 degrees Celsius. The battery service life can reach more than 20 years; ...... Despite the use of different technologies and equipment, these "super charging banks" can change the traditional operation mode of the power system. The new energy can be charged when the new energy is large or when the power consumption is low, and the new energy output is small or when the power consumption is high. It can not only smooth the unstable new energy power generation, help its development and consumption, but also provide services such as peak shaving and frequency modulation in cooperation with conventional thermal power, nuclear power and other power sources, and improve the flexibility of the power system. At present, how is the development of energy storage industry? What challenges are there? The reporter conducted an interview. The installed capacity has increased and the technical equipment has improved. Generally speaking, in addition to pumped storage, energy storage mainly in the form of output power is called new energy storage. "The response time of pumped storage is at the level of minutes, which has the advantages of mature technology, high efficiency, large capacity and long service life, but is restricted by the high requirements of site selection conditions and long construction period," said Chen Haisheng, chairman of the Energy Storage Special Committee of the China Energy Research Association. However, the location of new energy storage is flexible, the construction period is short, and the response speed is fast, but it is currently restricted by cost, maturity, security and other factors. Different energy storage technology routes have both advantages and disadvantages, but do not affect their "blooming". With the proposal of carbon peak and carbon neutral targets, the energy storage industry has entered the fast lane of development and become an important support for building a new power system. The latest data released by the Zhongguancun Energy Storage Industry Technology Alliance shows that by the end of 2022, pumped storage accounts for 77.6% of the electric energy storage projects put into operation in China, and new energy storage accounts for 21.4%. Among the new types of energy storage, the installed proportion of lithium-ion batteries is the largest, reaching 93.9%. The installed capacity increased significantly. According to the data provided by the China Electricity Council, by the end of 2022, China's total installed capacity of pumped storage energy reached 45.79 million kilowatts, more than 2.2 times that of the end of 2012, ranking first in the world. In 2022, China will put 28 pumped-storage units into operation, totaling 8.8 million kilowatts. It is preliminarily estimated that by the end of 2023, the total installed capacity of pumped storage will exceed 50 million kilowatts. Technical equipment has been continuously improved. Introduction by Li Sheng, President of the General Institute of Hydropower and Water Resources Planning and Design