The scale of energy storage system bidding in july hit a new high

What was the average bid price for non-hydro energy storage systems in Q3?

In the first three quarters, the average bid price for domestic non-hydro energy storage systems (0.5C lithium iron phosphate systems) was 622.90 RMB/kWh, a year-on-year decline of 50%. While bid prices remained relatively stable in the first half of the year, they reached a historic low of 578.11 RMB/kWh in Q3, particularly in September.

How many energy storage systems have been installed in 2024?

Over 1.5 million residential systems have been installed, with over 400,000 added in the first three quarters of 2024. Join us in Beijing, Apr 2025, get connected with investors, EPC, OEM, researchers, and everything related to energy storage. Should you have any inquires, feel free to send email to [email protected], or register directly.

How much energy storage capacity will be added in 2021?

The industry estimates that during 2021-30, worldwide energy storage capacity addition will be 345GW/999GWh.14 The United States of America (US) and China are the two largest markets, representing over half of the global storage installations by 2030.

Are ESS Technologies viable at scale?

Despite innumerable ESS technology inventions over time, only a few have proven viable at scale. In the power sector, battery energy storage system (BESS), pumped hydro storage (PHS), thermal energy storage and flywheel are a few effective technologies that make business sense.

How did EPC bidding affect large-scale projects?

Large-scale projects, particularly those exceeding 500 MWh and even GWh-level, saw a significant increase in EPC bidding announcements. State Power Investment Corporation (SPIC) led with a bidding volume exceeding 7 GWh. Energy storage system bid prices hit a record low

What is the largest energy storage procurement in China's history?

The tender marks the largest energy storage procurement in China’s history. In what is described as the largest energy storage procurement in China’s history, Power Construction Corporation of China (PowerChina) is targeting an unprecedented cumulative storage capacity of 16 GWh. The bids were opened on December 4.