What are the application areas of energy storage?
Currently, energy storage has three main application areas: power systems, automotive, and home energy storage.
I. Energy Storage in Power Systems
In the field of power system energy management, pumped hydro storage is the preferred energy storage technology. Among chemical batteries, flow batteries are likely to be the first to be commercialized, followed by lithium-ion batteries. Lead-acid batteries still need further performance improvements in technology, while sodium-sulfur batteries have long been monopolized by Japan, and their commercial application prospects in my country are highly uncertain.
Based on overseas demonstration studies, to provide uniform power output for a stable power supply, it is necessary to have a battery energy storage system that accounts for approximately 20% of the new energy power generation capacity and has a storage time of 6-8 hours.
It is predicted that by 2024, the global installed capacity of energy storage systems will reach approximately 45GW/81GWh. Although this capacity is negligible compared to the total installed capacity of global power generation, the power system has already undergone a qualitative change due to the emergence of energy storage systems.
Currently, power plant-level energy storage capacity is mainly used to replace less efficient power generation capacity. At the same time, the rapidly growing off-grid energy storage capacity will inevitably change the relationship between consumers and power plants.
II. Energy Storage Applications in the Automotive Sector
In the electric vehicle sector, lithium-ion batteries are the most promising energy storage technology, while lead-acid batteries also have a certain market share. The electric vehicle sector requires 453 million kilowatts of energy storage equipment. The global electric vehicle market has experienced rapid growth, increasing from only 68,000 vehicles in 2011 to 643,000 vehicles in 2015, with a compound annual growth rate of 75.36%.
According to Zhenli Research's forecast, with the continuous breakthroughs in new energy vehicle range technology and the gradual reduction in the cost of core components, new energy vehicles are expected to achieve large-scale production in the global passenger car market around 2017. At that time, the global electric vehicle market will also usher in a new round of explosive growth.
III. Home Energy Storage Applications
In the field of home energy storage, it can be understood as a set of large batteries that store electrical energy for the home. For the vast majority of Chinese families, this is still a relatively unfamiliar home appliance product.
Currently, the major global markets for residential energy storage systems are the United States and Japan. American homes are typically large, with high electricity consumption and a large number of households owning renewable energy systems such as wind and solar power. Due to their high electricity consumption and significant peak-valley electricity price differences, American households often use energy storage systems to store energy during periods of low electricity prices and use it during periods of high prices to save on electricity bills.
In addition, in remote areas and regions prone to natural disasters such as earthquakes and hurricanes, home energy storage systems are used as emergency power sources to avoid the inconvenience caused by frequent power outages due to disasters or other reasons.
