Industrial and commercial energy storage companies officially announced price cuts

Is battery energy storage going out of business?

Battery energy storage has experienced a fantastic year with record-breaking growth in 2018. But the good days may come to an abrupt end now, as the critical investors announced to scrap investment plans and leave the sector. The two power grid companies in China are the investors we refer to.

What happened to energy storage in 2023?

In 2023, the commercial and industrial (C&I) energy storage sector saw a significant uptick in installations, marking a pivotal moment with 4.77 gigawatt-hours (GWh) of energy storage capacity added.

Who invests in battery energy storage in China?

The two power grid companies in China are the investors we refer to. They have become the most significant spenders on battery energy storage (BES) since last year, and the reason for an over 300% growth of the sector.

Does China have a C&I storage market?

In terms of installations in China, the domestic C&I storage market is still nascent but has already attracted considerable interest from cross-border companies spanning industries such as furniture, energy, consumer electronics, environmental technology, lithium-ion battery production, and solar energy.

Will C&I energy storage grow in 2024?

Data of Domestic Documented C&I Energy Storage Projects in 2023 TrendForce forecasts that in 2024, the C&I energy storage sector will see a significant expansion, with capacity additions reaching 8 gigawatts (GW) or 19 gigawatt-hours (GWh). This represents a remarkable increase of 128% and 153% compared to the previous year.

Will US energy storage growth slow down in 2026?

That means costs in 2026 would return back to 2024 levels which could slow down the growth in US energy storage deployments, but the analyst says that even so, BNEF anticipates that the momentum of the country’s energy storage industry and growth in deployments would remain strong.