Commercial and Industrial Energy Storage: The Future of Energy Efficiency

Date:

2024-05-17 18:07

On 5 May 2024, Chinese President Xi Jinping officially started his visit to Europe, accompanied by Chinese delegates including the heads of important enterprises in China's energy storage business sector. In the face of the high proportion of wind and solar energy access on the power generation side and the increasing demand for charging on the load side, energy storage has become the best means of regulation for future energy development, while commercial and industrial power consumption, as the form of power consumption that accounts for the largest proportion of social power consumption and has the highest requirements for power stability, is increasing the demand for energy storage day by day.

Introduction to Commercial and Industrial Energy Storage

Industrial and commercial energy storage refers to the use of energy storage equipment at the place of electricity consumption of industrial and commercial users, in order to meet the users' demand for electricity or to participate in the trading of the electricity market. Industrial and commercial energy storage can significantly improve the user's power efficiency, reduce the cost of electricity, improve the reliability of electricity, increase the flexibility of electricity, and promote the consumption of new energy and the optimization of the power system.

Continuous Expansion of Market Size

With the continuous maturity of clean energy technologies and the increasing demand for energy storage, industrial and commercial energy storage has become an important means of improving energy efficiency and balancing power supply and demand.

Global commercial and industrial energy storage is mainly concentrated in the United States, Germany, Japan and China, whose installed capacity of commercial and industrial energy storage accounts for about 79% of the total global installed capacity. According to the International Energy Storage Alliance, the global installed capacity of commercial and industrial energy storage reached 12.4 GW in 2023, a 48% year-on-year increase, accounting for 38% of the global energy storage market.

Future Prospects and Challenges

The commercial and industrial energy storage market is promising and will continue to benefit from technological innovation, policy support, and environmental awareness. Global industrial and commercial energy storage is rapidly emerging, making excellent contributions to improving energy efficiency, promoting the development of new energy industry, and improving the power market.