Energy Storage Systems
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Global Energy Storage Industry Insights for 2024
In 2024, the top fifteen Chinese companies in the global energy storage system solutions market are:
- Sunshine Power
- CRRC Zhuzhou Institute
- Haibo Technology
- Envision Energy
- New Energy Storage
- Yiwei Lithium Energy
Recently, the Global Energy Storage Alliance reported that the new installed capacity for advanced energy storage worldwide reached approximately 188.5 GWh!
The 2025 White Paper on China’s Advanced Energy Storage Industry Development has been released, detailing technological advancements in lithium battery integration, storage batteries, converters, battery management systems (BMS), energy management systems (EMS), thermal control technologies, and fire safety measures.
Innovative Projects
The JinkoSolar Villa Project, the world’s first of its kind, was successfully delivered in Suzhou. This project emphasizes the use of efficient components and intelligent energy storage systems to promote clean energy access in residential areas, thereby reshaping the energy ecosystem of villas.
Utilizing n-type TOPCon battery technology along with smart inverters and storage devices, the system ensures high electricity generation efficiency with zero interruptions in supply. The design also combines high reliability with aesthetic considerations, receiving high praise from homeowners.
Recent Energy Storage Developments
A recent report on energy storage projects from March 24 to March 28, 2025, highlights a 400 MW/800 MWh lithium iron phosphate battery system featuring 134 sets of 3 MW/6.71 MWh batteries, 268 sets of 1500 kW PCS, and 134 sets of 3150 kVA transformers. The project will occupy an area of 120 acres.
Leading real estate company Wolong Real Estate is venturing into the renewable energy sector, focusing on commercial distributed photovoltaic power station projects. Currently, they hold a 45.68% stake in Zhejiang Longneng Power Technology Co., Ltd. and an 80% stake in Zhejiang Wolong Energy Storage System Co., Ltd..
Hydrogen Energy Initiatives
In a recent proposal, the government is encouraging the development of hydrogen energy to support high-quality industrial growth. Efforts are underway to accelerate the application of ultra-high pressure hydrogen storage, efficient hydrogen liquefaction, and solid-state hydrogen storage technologies while exploring salt cavern hydrogen storage.
Commercialization of Solid-State Batteries
Ganfeng Lithium has signed a strategic agreement with Xingyun Co. to accelerate the commercialization of solid-state batteries and the deployment of zero-carbon scenarios. The collaboration aims to enhance technology research, industrial resources, and application capabilities in key areas such as solid-state batteries and integrated storage solutions.
Market Trends and Innovations
Tianeng Power focuses on hydrogen fuel cells, targeting the production and sales of core products like fuel cell engines and key materials for electric special industrial vehicles and energy storage systems. Their 2024 strategy emphasizes innovation in hydrogen fuel cell technology.
With the rapid growth of renewable energy installations, energy storage systems are evolving from a supportive role to becoming core assets in the grid. Efficiency, stability, and cost-effectiveness are the three main areas of focus for the advancement of storage technologies.
Recently, SMA, a leading German inverter manufacturer, launched a new product designed for large-scale energy storage solutions, called the Sunny Central Storage UP-S.
Upcoming Projects
A new project in Finland by a Swedish energy storage developer plans to deploy a 250 MW/750 MWh battery storage system, which is expected to be operational by the first quarter of 2026, marking it as potentially the largest battery storage system in the Nordic region.
Furthermore, a significant announcement was made regarding the Hornsea 3 offshore wind project, which will include a battery storage system of 300 MW/600 MWh designed to enhance energy reliability.
Conclusion
As the energy landscape continues to evolve, energy storage systems are becoming increasingly vital in ensuring energy security and supporting the transition to a greener future.
