Driven by the "double carbon" goal, a series of policies supporting new energy followed, and the energy storage business ushered in a "golden growth period", and new energy enterprises led by central enterprises planned energy storage projects one after another. With the rapid increase of wind and solar grid connected power, the construction of new power system is facing many challenges. As the basis for building a new power system, energy storage may continue its previous popularity in 2022. Application of energy storage in different links (source: Debang securities)
basic role in guiding the layout of central enterprises
As an important part of modern energy system, energy storage plays an important role in new energy grid connected power generation. According to the relevant person in charge of China Energy Engineering Corporation Limited(601868) , taking Hami project as an example, the project uses Cecep Solar Energy Co.Ltd(000591) for power generation, uses molten salt heat storage, and the heat storage capacity is about 1300mwh. At present, this technology is relatively mature, but it is still rarely used in China's actual commercial operation.
The development of energy storage market is accelerating with the expansion of wind energy. Beijing Centergate Technologies (Holding) Co.Ltd(000931) the energy storage industry technology alliance predicts that under the conservative scenario, the total market volume of the "14th five year plan" energy storage market will reach 35.5gw, and the compound growth rate will remain at about 57%. The Pacific Securities Co.Ltd(601099) securities analysts believe that with the support of policies such as large base and promotion of the whole county, China's photovoltaic installed capacity is expected to reach 60gw-75gw in 2022, with a year-on-year increase of about 40%.
In terms of project scale, in 2021, the development of 100MW energy storage power station will accelerate, which is suitable for the increasing installed scale of new energy. It is understood that more large-scale gigawatt energy storage power stations are imminent. The Jiangsu Linyang Energy Co.Ltd(601222) and Eve Energy Co.Ltd(300014) joint venture are planning Jiangsu Qidong 500 MW / 1 gigawatt hour energy storage power station project.
"Energy storage can be applied to power frequency modulation auxiliary services, standby power supply, smoothing fluctuations and other scenarios to solve the problems of power grid instability and power abandonment caused by wind and solar power generation." Sinolink Securities Co.Ltd(600109) according to the analysis, in the new power system, there is an urgent demand for energy storage equipment on the power supply side, power grid side and user side, and the new structure of "energy storage +" has developed rapidly, forming an important supporting surface for the development of new energy. Some recent energy storage projects
"Energy storage is a buffer pool for new energy power generation. Without energy storage, there will be problems in the matching of new energy and power grid." China Energy Engineering Corporation Limited(601868) the relevant person in charge said that energy storage is an important support for building a new power system with new energy as the main body.
It is found that from the perspective of the new energy policies that have been issued in succession, most of the new energy projects require a corresponding proportion of energy storage.
In June 2021, China Energy Engineering Corporation Limited(601868) released the action plan (white paper) for practicing the "30.60" strategic goal of carbon peaking and carbon neutralization. The relevant person in charge of the company said that China Energy Engineering Corporation Limited(601868) focused on the "one center" of the "30.60" system solution and the "two basic points" of energy storage and hydrogen energy, focused on new energy formats such as pumped storage, compressed air energy storage, electrochemical energy storage and hydrogen energy, and established the core competitiveness of the whole industrial chain.
Central enterprises play an important role in the development of energy storage. In December 2021, SASAC issued the guiding opinions on promoting the high-quality development of central enterprises and doing a good job in carbon peak and carbon neutralization, requiring to accelerate the construction of pumped storage power stations with eco-friendly, mature conditions and superior indicators, actively promote the construction of projects under construction, actively carry out the construction of small and medium-sized pumped storage in combination with local planning, and explore and promote the integration transformation of water elevator class, Develop modern pumped storage industry.
application status of multiple parallel
"The pumped storage power station has many functions such as peak shaving, valley filling, frequency modulation, phase modulation, emergency standby and black start. Among many energy storage technologies, the pumped storage technology is the most mature and the operation is relatively stable." According to the relevant person in charge, although there are many energy storage modes, from a horizontal comparison, pumped storage is one of the most economical operation modes at present.
At present, nearly 90% of China's installed energy storage power comes from pumped storage. According to the statistics of Beijing Centergate Technologies (Holding) Co.Ltd(000931) industrial technology alliance, in 2020, the installed power of global pumped storage was 172.5gw, accounting for 90.3% of the total installed power of energy storage; The cumulative installed capacity of China's energy storage is 35.6gw, of which the installed capacity of pumped storage accounts for 89.3%. Schematic diagram of energy storage technology classification (source: Debang securities)
"More than 90% of the planning and design and more than 60% of the construction in China are participated by Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) ." The relevant person in charge of Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) said that Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) has absolute advantages in the field of pumped storage, especially in standard formulation, survey and design, civil construction, electromechanical installation and engineering supervision. In the first half of 2021, Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) undertook the survey and design of about 87% of the more than 30 pumped storage projects under construction by the State Grid.
In recent years, air energy storage, electrochemical energy storage and other technologies have made breakthroughs in application and construction. In Jiangsu, Jintan salt cavern compressed air energy storage national test demonstration project has been successfully connected to the grid. On the last day of 2021, the first 100 MW advanced compressed air energy storage national demonstration project of Zhangjiakou international in Hebei Province was successfully powered on. Industry insiders believe that during the 14th Five Year Plan period, China's electrochemical energy storage market will officially enter the stage of large-scale development.
For the selection of energy storage technology, the relevant guidance of SASAC points out that central enterprises should promote the R & D and large-scale application of new energy storage technology with high safety, low cost, high reliability and long life, improve the application architecture and standards of source network load storage interactive technology, and build a source network load storage collaborative interactive regulation platform, Create a win-win industrial ecology of co construction, sharing and wide participation of multiple subjects.
Private enterprises have made rapid layout in electrochemical energy storage. Contemporary Amperex Technology Co.Limited(300750) previously announced that it would invest no more than 7 billion yuan to build the phase I project of Guizhou new energy power and energy storage battery production and manufacturing base; Previously Contemporary Amperex Technology Co.Limited(300750) and China Huadian had reached cooperation on the 100 megawatt hour centralized electrochemical energy storage project in Tengzhou, Shandong Huadian. According to the analysis of Debon securities, Contemporary Amperex Technology Co.Limited(300750) energy storage business has increased significantly in recent years. Cumulative scale of China's energy storage market (2000-2020) (source: Beijing Centergate Technologies (Holding) Co.Ltd(000931) energy storage industry technology alliance)
Camel Group Co.Ltd(601311) with the help of the mature technology of energy storage container products, it has reached strategic cooperation with the Three Gorges electric energy and successfully entered the energy storage integrated system industry. It is expected to accelerate the development of energy storage system business and share the dividends of the energy storage industry with the accumulation of technology in the battery field.
Eve Energy Co.Ltd(300014) is also promoting the implementation of 50 GWH power energy storage battery project to speed up the promotion of energy storage plate.
Cost reduction is the key to the large-scale application of new energy storage. With the introduction of policies related to new energy and energy storage, the market potential of energy storage is also increasing. The proportion of auxiliary services in the total electricity bill of the whole society is expected to continue to increase. The improvement of its market mechanism will boost the long-term development of China's new energy storage. According to the analysis of insiders, with reference to the experience of overseas developed power markets, auxiliary services have become an important source of income for energy storage projects.
(Shanghai Securities News)
