Electrochemical energy storage
In 2020, the cumulative installed capacity of electrochemical energy storage in Europe will reach 5.3 GWh, an increase of 45% year-on-year. In 2020, the newly installed capacity will be about 3 GWh.
China expects that the newly added electrochemical energy storage will reach 3.3GW in 2021, which is a double increase compared to 2020. In the later period of the “14th Five-Year Plan”, in order to meet the national and local wind and solar installation scale targets, electrochemical storage will be implemented in 2024 and 2025. The cumulative scale of energy is expected to reach 30GW+ and 55GW+.
Electrochemical energy storage mainly includes lead-acid batteries, lithium-ion batteries, sodium-sulfur batteries and flow batteries.
Everyone should be familiar with lead-acid batteries. They were first used in energy storage, and they were used in early battery cars. The technology is relatively mature, the price is low, and the structure is simple. The disadvantages are low energy density, short lifespan, and unenvironmental protection. It will gradually withdraw in the future.
The protagonist of electrochemical energy storage is lithium batteries.
Lithium batteries have high energy density, small size, and large cycles. The advantages are fascinating, the disadvantages are fatal, and the cost is too high. The upstream is lithium iron phosphate, which overlaps with new energy vehicles, with high demand and low supply.
The high price does not prevent lithium battery energy storage from becoming a hot spot in the market. Take Germany as an example. In 2020, of the cumulative installed capacity of large energy storage systems (>100kW), lithium batteries account for 81%, lithium batteries/sodium-sulfur batteries account for 3%, and lead-acid batteries account for only 1%.