Energy Storage Technology Overview and Industry Trends

This document provides a comprehensive overview of energy storage technologies, including mechanical, electrochemical, electromagnetic, and other storage methods. It covers classification, comparison, and application scenarios of common power energy storage technologies such as pumped hydro, compressed air, flywheel, supercapacitor, and various battery types like lithium-ion, lead-acid, sodium-sulfur, and flow batteries. The document highlights the rapid growth of the energy storage industry, driven by global 'double carbon' goals and the increasing share of volatile renewable energy. It presents data on cumulative installed capacity in China and globally, showing significant year-on-year growth. Detailed comparisons of energy storage methods are provided in terms of energy density, power density, cycle life, efficiency, cost, and application suitability. Special focus is given to lithium-ion batteries, comparing different cathode materials like lithium cobalt oxide, lithium manganate, lithium iron phosphate, and ternary lithium batteries. The charging and discharging principle of lithium iron phosphate batteries is explained, emphasizing their high energy density and safety. The document serves as a technical reference for energy storage system design, industry norms, and business models, aiming to support the transition to stable and efficient renewable energy integration.