reply Global Energy Storage Market Speeds Up Middle East Gains Attention

Recently, the world's first 100 MWh intelligent string-type grid-type energy storage power plant - Qinghai Golmud Luneng 50 MW/100 MWh grid-type energy storage power plant formally put into operation, which will further enhance the proportion of new energy access in the western region of China.With the accumulation of wind, solar, tidal energy and other new energy market development over the years, new energy large-scale grid to the grid absorption capacity has brought considerable challenges. As energy storage still exists in high cost, technology is not popular enough and other issues, the new energy power reserve problem has become a major obstacle to hinder its accelerated development. But at the same time also for the global energy storage market development has created a broad technology and market space. Currently, many countries to increase policy support for the energy storage industry, as well as peak and valley electricity price difference of economic incentives, energy storage has become a competitive new track, you can see, the world is setting off energy storage, innovative development and large-scale construction boom.According to statistics, since 2020, the global energy storage new installed capacity has shown a growth trend of almost doubling every year. 2023 global energy storage market new installed capacity reached 10.35 billion watt-hours, which has exceeded the historical cumulative size of global energy storage installed capacity (10.1 billion watt-hours). It is expected that the global demand for new installed capacity of energy storage can reach 17.3 billion watt-hours in 2024, which continues to maintain a high incremental growth. China, the United States and Europe dominate the total global installed energy storage capacity, accounting for 85% of the global total.Golmud grid-type energy storage power station, for example, the project construction scale of 50 MW / 100 MWh, by 50 sets of 2 MWh intelligent string battery cabin, 600 sets of 200 kilowatts of grid-type voltage source converter. As the grid of the "multi-functional charging treasure", the project adopts intelligent optical storage generator solutions, so that the new energy with the traditional generator "stable" characteristics, and successfully created a high-altitude string-type grid-type energy storage power station pioneer examples. With the conventional with the network-type energy storage power station relies on real-time grid voltage and frequency data to regulate the power station different, network-type energy storage power station can independently adjust the voltage and frequency, the performance is equivalent to the "conventional energy storage + camera", so that the new energy has a traditional generator as the "stable" characteristics. The performance is equivalent to "conventional energy storage + regulator", so that new energy has the same "stable" characteristics as traditional generators. Grid after the project can enhance the Qinghai power grid 40% of new energy access ratio, equivalent to saving 21.45 million tons of standard coal, reduce carbon dioxide 53.48 million tons.According to Li Chuangjun, director of the New and Renewable Energy Division of the National Energy Board, as of the end of May this year, China has built and put into operation a new type of energy storage project with an installed capacity of more than 38 million kilowatts, and the average length of energy storage has reached 2.2 hours. Twelve provinces in China have an installed capacity of more than one million kilowatts. Li Chuangjun said, China's new energy storage is an important part of the new power system and new energy system, has become China's construction of a new power system and a new type of energy system of the key support technology, and its strong development can lead to the development of upstream and downstream industry chain, promote scientific and technological innovation, personnel training and investment in employment, and to become one of the new kinetic forces for the development of new quality productivity.Not only China, the global energy storage market has also entered a rapid development stage. 2019 to 2023, the global energy storage new installed capacity compound annual growth rate of 108%. In the next decade, the energy storage industry will accelerate its growth due to the increased demand for stable grid operation and the reduced cost of energy storage. From the global newly commissioned electrochemical energy storage project installed size distribution, China, Europe, the United States continue to lead the global electrochemical energy storage market development, the Middle East in the planning and under construction projects is also considerable, is rapidly emerging as an important renewable energy and energy storage technology center. Among them, the energy storage projects in the United Arab Emirates, Saudi Arabia, Morocco and Egypt are particularly notable. The new energy storage construction in these countries is not only large-scale, but also adopts cutting-edge technologies, providing a strong impetus for the energy transition in the Middle East.