The current situation of lithium battery energy storage and the advantages of lithium batteries in the field of energy storage. As lithium batteries enter the stage of large-scale application, the development of lithium battery energy storage industry has also received strong support from governments around the world. The more obvious advantage of energy storage lithium iron phosphate batteries is beginning to enter the public. The total capacity of the lithium battery energy storage market is considerable, and there is huge potential on the user side.

Current situation of lithium battery energy storage

        As a new energy powerhouse, China's new energy industry has experienced rapid development in recent years, and the energy storage sector has also been closely monitored. Faced with huge market demand and potential, domestic lithium battery energy storage enterprises are like dormant lions, ready to take off.

The total capacity of the lithium battery energy storage market is considerable, and there is huge potential on the user side.

        At present, the three major application areas of lithium battery energy storage are large-scale wind and solar energy storage, backup power for communication base stations, and household energy storage. The backup power supply field of communication base stations currently accounts for a large proportion, and home energy storage has great potential for further development and expansion through the "energy home" wave sparked by Tesla. In the short term, large-scale wind and solar energy storage seems to have little momentum.

Lithium battery energy storage technology is approaching maturity and overall cost is decreasing

        Overall, in recent years, with the continuous expansion of market demand for lithium batteries and the large-scale production of lithium batteries, their costs are decreasing year by year. Currently, their prices are sufficient for commercial development and widespread utilization. In addition, after the power lithium battery decays to less than 80% of its initial capacity, it can be utilized in a tiered manner in the energy storage field, further reducing the cost of energy storage lithium batteries.

        At present, lithium battery energy storage technology is still in the stage of continuous breakthroughs, and there is still room for narrowing the technological gap between domestic and foreign markets. From lithium iron phosphate batteries to ternary lithium batteries, to the currently popular lithium titanate materials, technological changes constantly affect the cost and industrial chain balance of lithium batteries. Therefore, investors have to face the risk of technological updates and replacements when investing in large-scale production.

The advantages of lithium batteries in the field of energy storage

        Driven by strong social development demands and huge potential markets, lithium battery pack energy storage technology is developing towards large-scale, high-efficiency, long-life, low-cost, and pollution-free directions. Lithium battery energy storage is currently the most feasible technological route.

        1. Lithium iron phosphate batteries have relatively high energy density and strong endurance. With the application of lithium iron phosphate cathode materials, the lifespan and safety of traditional carbon negative lithium-ion power batteries have been greatly improved, making them the preferred choice for energy storage applications.

        2. The long cycle life of lithium batteries makes it possible to improve their application in the field of energy storage in the future due to their relatively low energy density, weak endurance, and high price.

        3. Lithium batteries have good rate performance and are relatively easy to prepare. In the future, improving high-temperature performance and poor cycling performance will be more conducive to their application in the field of energy storage.

        4. The global lithium battery energy storage system has a much higher proportion of technology compared to other battery energy storage systems, and lithium-ion batteries will become the mainstream of energy storage in the future. In 2020, the market for energy storage batteries will reach 70 billion yuan.

        5. Clean and pollution-free Lithium batteries do not contain toxic substances such as lead, fluorine, mercury, etc. At the same time, because the battery must be well sealed, there is very little gas released during use, which does not cause pollution to the environment.