Global Energy Storage Surge: China Policy Boost, UK-US Large-Scale Growth

This securities research report analyzes the global energy storage market, highlighting upgraded top-level design in China and exceeding expectations in UK and US large-scale storage. In August 2025, China's new energy storage installations reached 2.84GW/8.19GWh, with tenders surging 636% year-on-year to 25.8GW/82.7GWh. India initiated mandatory storage allocation for solar PV, with 2025 tenders exceeding 43GWh. High ROE markets like Germany, Italy, UK, and USA show mixed trends: Germany's residential storage declined 17.7% year-on-year, while US grid connections surged 130%. Europe's large-scale storage is expected to grow significantly in 2025. Medium ROE markets in the Middle East and Africa are driven by solar-plus-storage grid parity and essential needs. Supply side notes domestic energy storage system prices at 0.491 RMB/Wh for 2-hour systems. Risks include US demand downside, industry competition, and tariff policy uncertainty.