Energy storage, to put it simply, is like a large power bank. The difference is that the mobile phone is replaced by the regional power grid and various electrical devices, and the charging methods are diverse, covering photovoltaic power generation, wind power generation, pumped storage, etc.
Currently, there are two mainstream energy storage technologies: lithium battery energy storage, represented by lithium iron phosphate batteries, and pumped hydro storage, which is the most mature, has the largest scale of use, and the lowest cost.
In recent years, the residential energy storage market has been booming, but lithium battery safety issues have occurred frequently. Mainstream energy storage technologies have been somewhat weak in the face of market development, while new energy storage technologies such as sodium-ion batteries, vanadium redox flow batteries, and hydrogen fuel cell energy storage have begun to gain momentum and are accelerating their commercialization.
Electrochemical energy storage system
Electrochemical energy storage systems mainly consist of battery packs, battery management systems (BMS), energy management systems (EPMS), and energy storage inverters (PCS).
In terms of cost, the battery pack accounts for the largest share, up to about 70% of the total cost of the electrochemical energy storage system, followed by the energy storage inverter and the battery management system, each accounting for about 10%.
In terms of functionality, a battery pack typically consists of multiple battery modules connected in parallel. Each battery module is composed of multiple cells connected in series or parallel. It is the core of an electrochemical energy storage system and is mainly responsible for the storage and release of electrical energy within the system.
The Battery Management System (BMS) primarily monitors various data points during the charging and discharging process of the battery pack, such as temperature, current, voltage, and state of charge (SOC). It issues alarm signals when data is abnormal, thereby ensuring the safe and stable operation of the energy storage system.
An energy management system (EMS) mainly consists of two parts: basic functions and application functions.
Basic functions refer to computers, operating systems, and EMS support systems; application functions include data acquisition, data analysis, network monitoring, and energy dispatching.
A power storage inverter (PCS) consists of a DC/AC bidirectional converter, a control unit, etc., and can control the charging and discharging of batteries, and is responsible for the conversion between AC and DC power.
Electrochemical energy storage industry chain
Like other industries, the electrochemical energy storage industry chain consists of upstream, midstream, and downstream components.
The upstream of the electrochemical energy storage industry chain mainly consists of various raw material suppliers, covering positive and negative electrode materials, electrolytes, battery separators, electronic components, and special auxiliary materials.
According to incomplete statistics from Vico.com, the main upstream companies in the electrochemical energy storage industry chain include: Ronbay Technology, Dangsheng Technology, Tianqi Lithium, Tianli Lithium Energy, Changyuan Lithium, BTR, Zichen Technology, Shanshan, Kaijin Energy, Huasheng Lithium Battery, Xingyuan Material, Cangzhou Mingzhu, BYD, CATL, etc.
The midstream of the electrochemical energy storage industry chain mainly consists of energy storage system integration and installation manufacturers, including battery packs, battery management systems (BMS), energy management systems (PMS), energy storage inverters (PCS), hardware systems, software systems, and other electrical equipment.
According to incomplete statistics from Vico.com, the main midstream companies in the electrochemical energy storage industry chain include: CATL, BYD, GATE Electronics, Sci-Tech Electronics, XieNeng Technology, Sungrow Power, Narada Power, Pylontech, EVE Energy, Haiji New Energy, Zhongke Haina, and Nacional Innovation Energy.
The downstream of the electrochemical energy storage industry chain mainly covers various specific application scenarios, including the power generation side, the grid side, and the user side, such as new energy power plants, communication base stations, data centers, traditional power plants, power grid companies, industrial and commercial energy storage, and home energy storage.
According to incomplete statistics from Vico.com, downstream companies in the electrochemical energy storage industry chain mainly include Xiaomi, CATL, BYD, State Grid, China Southern Power Grid, Penghui Energy, Ugreen, and Times Nebula.
