As the battery energy storage market grows, CR1625 battery manufacturers begin to deploy lithium iron phosphate battery energy storage technology

　　With the growth of the battery energy storage market, CR1625 battery manufacturers have begun to deploy lithium iron phosphate battery energy storage technology. As a new energy power, China's new energy industry has developed rapidly in recent years, and the energy storage field has also been closely watched. Battery energy storage is very flexible, can be deployed quickly, and has a variety of applications. At the same time, it can generate a large number of value streams. Energy storage companies are ready to take off like sleeping lions. With the growth of the battery energy storage market, CR1625 battery manufacturers have begun to deploy lithium iron phosphate battery energy storage technology.

　　Growth of the battery energy storage market

　　Judging from the current development status of energy storage lithium batteries, China's energy storage CR1625 battery industry has entered a demonstration application period under the influence of multiple factors such as the implementation of supporting policies, the construction of grid energy storage demonstration projects, the release of overseas market demand, and the transformation and joining of power battery companies. . 2018 is also considered the first year of CR1625 battery energy storage in China. As of the end of 2018, the cumulative scale of electrochemical energy storage projects in operation in China was 1,040MW, a year-on-year increase of 167%. At the same time, the installed capacity of newly put into operation domestic electrochemical energy storage projects in 2018 was 650MW, a year-on-year increase of 437.2%. Among them, lithium batteries account for 70% of the installed capacity, occupying a dominant position.

　　The global battery energy storage system market is expected to grow from US$1.98 billion in 2019 to US$8.54 billion in 2023, with a compound annual growth rate of 33.9% during the period. Factors driving the market growth include growing demand for grid interconnection solutions, high demand for lithium-ion technology from the renewable energy industry, and declining lithium-ion battery prices.

　　The Asia-Pacific region includes China, Japan, India, South Korea and the rest of the Asia-Pacific region. The Asia-Pacific region is gradually becoming the center of the battery energy storage system industry. Demand for battery energy storage systems is gradually increasing in China, India and Japan. China's electricity demand is rising due to its rapidly growing population. To meet the growing needs of this population, the State Grid Corporation of China, the world's largest utility company, has deployed battery energy storage systems to provide ancillary services to its grid.

　　It should be noted that China's energy storage CR1625 battery industry is still in its gestation period and its volume is still relatively small. It is mainly used for user-side peak shaving and valley filling, off-grid power stations, microgrids, rail transit, etc.; some are exported to Europe, Australia, etc. market, mainly used in home energy storage, grid energy storage and other projects.

　　CR1625 battery manufacturers begin to deploy lithium iron phosphate battery energy storage technology

　　Lithium iron phosphate can operate at deeper discharge cycles and withstand higher levels of sustained voltage, and experts say they are willing to trade off energy density for the more stable characteristics of lithium iron phosphate batteries. Ternary batteries are particularly sensitive to regular full charge and discharge, which often affects battery life. Relatively speaking, lithium iron phosphate is more resistant to full discharge cycle depth, so it usually has a longer cycle life.

　　There are currently many technical routes for energy storage, which are in the "Spring and Autumn" period and the blooming period. But which technical route will eventually take over the mainstream depends on whether it has the opportunity to effectively reduce the cost of the entire industry chain, compared with the previous lead-acid batteries. , pumped hydro storage, etc. are more economical. Lithium iron phosphate battery energy storage has the most promising development prospects. Because it relies on the large-scale and rapidly developing power lithium batteries, it has greatly reduced the cost of energy storage lithium batteries. The decline in costs will further promote the growth of the energy storage market, which is a virtuous cycle process.

　　In fact, national-level energy storage demonstration projects pay more attention to the application of new technical concepts. In this regard, lithium iron phosphate batteries obviously have advantages over various lead-acid batteries. The industry generally believes that using lead-acid batteries means low cost, while lithium batteries are chosen because of their outstanding performance. Normally, microgrid energy storage projects such as island operation have more cost considerations due to limited budgets, so lead-acid batteries are preferred. In national-level large-scale wind and solar storage and transmission projects, more consideration will be given to the demonstration effect of new technologies and practical application needs. Lithium iron phosphate batteries are obviously more attractive to buyers.

　　Judging from the characteristics of the domestic energy storage CR1625 battery industry, currently, the grid-side energy storage demonstration project guided by the government is still the first driving force for the development of the domestic CR1625 battery energy storage market. In terms of technical roadmap, domestic lithium energy storage technology is dominated by lithium iron phosphate, accounting for more than 85%. Lithium iron phosphate batteries have gradually increased their penetration in the domestic energy storage market due to their safety and cycle performance advantages.

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