Exciting times ahead for the energy storage industry! The latest '2024 Global Energy Storage Industry Market Trend Forecast Report' uncovers some groundbreaking insights!
In 2023, we saw the industrial and commercial energy storage installations skyrocket, with an impressive growth rate of 115%. This surge was backed by substantial policy support globally, including the IRA act in the US and the new battery law in the EU.
The technological breakthrough in centralized energy storage, which boasts large capacity, high efficiency, and reliability, has been pivotal in addressing the massive demands of large-scale power systems.
However, the market has not been without its challenges. A price war due to overcapacity saw LiFePO4 cell prices plummet by 52%, igniting intense competition within the industry.
The 'Go Global' wave has seen leading firms like CATL and EVE Energy secure over 150GWh in overseas orders, showcasing the international demand for robust storage solutions.
Looking ahead into 2024, we're expecting a shift towards more rational growth. As supply chain crises ease, and policies like the IRA act further unfold, we anticipate a bounce-back in both large storage installations and residential sectors in the US and Europe.
AUKPOWER believe in the power of collaboration.
Discuss with our lithium polymer battery experienced engineers your specific needs.
Contact us to Get Your Battery Design work in 1 working day! Email:sales@aukpower.com
After confirming the Battery Design, you can get the sample within 7 working days!
Exciting times ahead for the energy storage industry! The latest '2024 Global Energy Storage Industry Market Trend Forecast Report' uncovers some groundbreaking insights!
In 2023, we saw the industrial and commercial energy storage installations skyrocket, with an impressive growth rate of 115%. This surge was backed by substantial policy support globally, including the IRA act in the US and the new battery law in the EU.
The technological breakthrough in centralized energy storage, which boasts large capacity, high efficiency, and reliability, has been pivotal in addressing the massive demands of large-scale power systems.
However, the market has not been without its challenges. A price war due to overcapacity saw LiFePO4 cell prices plummet by 52%, igniting intense competition within the industry.
The 'Go Global' wave has seen leading firms like CATL and EVE Energy secure over 150GWh in overseas orders, showcasing the international demand for robust storage solutions.
Looking ahead into 2024, we're expecting a shift towards more rational growth. As supply chain crises ease, and policies like the IRA act further unfold, we anticipate a bounce-back in both large storage installations and residential sectors in the US and Europe.
AUKPOWER believe in the power of collaboration.
Discuss with our lithium polymer battery experienced engineers your specific needs.
Contact us to Get Your Battery Design work in 1 working day! Email:sales@aukpower.com
After confirming the Battery Design, you can get the sample within 7 working days!
