The energy storage track welcomes the good again. On March 21, the national development and Reform Commission and the National Energy Administration issued the implementation plan for the development of new energy storage in the 14th five year plan, proposing to vigorously develop new energy storage.
In fact, in order to accelerate the development of energy storage industry, China has issued a series of incentive policies in recent years. According to statistics, since 2022, more than 20 provinces and cities have issued 63 energy storage policies, including encouraging the development of pumped storage and new energy storage.
The reporter noted that in addition to the State Grid and China Southern Power Grid, a number of central energy and power enterprises have stepped up pumped storage since this year. For example, Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) established more than 10 project companies to develop pumped storage projects, and China State Construction Engineering Corporation Limited(601668) is also promoting the development of pumped storage projects.
"Pumped storage has the advantages of large energy storage capacity, high system efficiency, long operation life and friendly environment. It is the mainstream technology of large-scale energy storage at present." Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) chief engineer Zhou Jianping said in an interview with the reporter of Securities Daily that "water energy storage" will be the best energy storage method for new energy supporting and new power system for a long time in the future. "
"Compared with other energy storage methods, pumped storage is still the cheapest means." Lin Boqiang, President of the China Energy Policy Research Institute of Xiamen University, told the Securities Daily that it is extremely necessary to develop pumped storage at present. First, it is the need for peak regulation of the power grid system, and second, it is the need for the development of renewable resources, wind and electricity.
pumped storage meets the turning point of profit
several central enterprises entered the site
On March 17, the construction of two pumped storage power stations of the State Grid started at the same time, with an installed capacity of 1.2 million KW and a total investment of 14.773 billion yuan. It is expected that they will be completed and put into operation before 2030, with an annual power generation of 2.4 billion kwh. This also means that China's pumped storage development further.
Insiders told the Securities Daily that previously, the main investors of pumped storage were the State Grid and China Southern Power Grid, accounting for more than 90% of the market, which belongs to the mode of network construction. With the implementation of two-part electricity price last year, pumped storage development ushered in a profit turning point. With the policy support of encouraging social capital to participate in power market transactions, pumped storage is attracting more enterprises to join.
Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) as a renewable energy power planning, design and construction contracting service enterprise, it has a market share of more than 80% in the planning and design of pumped storage industry and more than 70% in the general contracting and construction contracting.
Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) pumped storage planning engineers told reporters that the medium and long-term development plan of pumped storage (20212035) proposed that by 2025, the total scale of pumped storage in China will reach 62 million KW; By 2030, the total scale of production will reach 120 million KW. However, according to the current development situation, this planning goal is fully expected to be realized in advance. In other words, it is required to be realized in advance based on the urgency of energy storage demand.
"In addition to the State Grid and China Southern Power Grid, China State Construction Engineering Corporation Limited(601668) , China Railway Construction Corporation Limited(601186) , Metallurgical Corporation Of China Ltd(601618) and other construction central enterprises are also testing the water pumped storage business." The above engineer told reporters, "at present, the pumped storage projects under construction and completed are basically undertaken by construction central enterprises. In the face of the prospect of new energy development and the requirements of building a new power system, many central enterprises have started the pumped storage business."
"In the past, pumped storage can be said to be a non profitable business." Lin Boqiang told reporters that the implementation of the two-part electricity price is expected to make the enterprises investing in the construction of pumped storage profitable.
The reporter noted that on March 8, China State Construction Engineering Corporation Limited(601668) group held a pumped storage power station business promotion meeting, pointing out that the pumped storage power station business market is broad, so we should attach great importance to the development of pumped storage business and achieve substantive results as soon as possible. Vigorously developing the pumped storage business will help the group speed up the layout of the cross field of water conservancy and new energy, realize overtaking in the water conservancy field, take this opportunity to enter the new energy field and speed up the creation of new growth points.
In addition to the planning and design and general contracting of the project, Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) also invested in the development of energy storage power station, and increased the investment in the preliminary work and construction preparation of the power station, so as to obtain the initiative of engineering construction, speed up the project process, reduce the construction cost and improve the investment benefit.
"Pumped storage is indeed a promising energy storage track." The relevant person in charge of an enterprise engaged in pumping and storage development told the reporter of Securities Daily, but the pumped storage hydropower station needs at least 6 to 7 years from preliminary planning, investigation to completion and operation, with a long investment return cycle and high requirements for investors.
"There are no excess profits and huge profits in this field, but in the long run, pumped storage can certainly bring a stable return on investment." Zhou Jianping said that power, as a public utility, has considerable public welfare. All enterprises involved in this industry need to make predictions according to national policies and the development situation of the power market, conduct project economic evaluation and input-output analysis, strengthen project process control, reduce costs and prevent risks.
energy storage market has a broad space
pumped storage development acceleration
As the most mature technology, the largest capacity and environment-friendly energy storage method at present, many people in the industry told the reporter of Securities Daily that pumped storage is the key support for China to meet the regulation needs of power system at present and in the future, and plays an important role in ensuring the safety of power system and promoting the large-scale development, consumption and utilization of new energy.
Zhou Jianping told reporters that the market scale of pumped storage is very large, which can drive the development of trillion yuan related industries and stimulate economic growth.
Data show that by the end of 2020, the installed capacity of energy storage projects put into operation in the world has exceeded 190 million KW, including 172.5 million kw of pumped storage, accounting for 90%; The total installed capacity of energy storage in China is about 35 million kilowatts, including 31.49 million kilowatts of pumped storage.
Guorong Securities pointed out that as an intermittent energy, wind power is in urgent need of energy storage, and the wind power industry is expected to become the largest incremental market of energy storage in the future.
The above engineers told reporters that from the perspective of new energy development planning, the installed capacity of intermittent energy power such as wind power and photovoltaic in China will be more than 1.2 billion kw in 2030. It is predicted that in 2060, the total installed capacity of electric power will reach 8 billion kw, and the installed capacity of wind power photovoltaic will reach 5 billion kw. Based on the scale of 5 billion kw, even if only 15% to 20% of the regulated power ratio is considered, the requirements for energy storage regulation capacity are 750 million kW to 1 billion kw.
Zhou Jianping said that through comprehensive comparison from the aspects of energy storage technology principle, life-cycle economy, environmental protection and safety, "water energy storage" will be the best energy storage mode of new energy supporting and new power system for a long time in the future.
Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) told the reporter of Securities Daily that at present, nearly 80% of the preliminary work of pumped storage power stations in China - pre feasibility study and feasibility study are undertaken by Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) subsidiaries.
"In order to speed up the development of pumped storage industry, relevant departments proposed to speed up the progress of development planning and design, reserve in advance and speed up the construction of a number of pumped storage power stations with mature conditions and superior indicators." Power Construction Corporation Of China Ltd(Powerchina Ltd)(601669) told the Securities Daily, "once the power grid enterprises, investment and development enterprises and local governments reach a consensus and are approved to start construction, the project construction preparation and construction preparation can be started within the year."
Zhou Jianping predicted that in 2022, the approval of grid side pumped storage power stations serving new energy access to the power grid and pumped storage power stations driving the development of new energy bases will be accelerated, and the approved construction scale will increase significantly.
