The global energy storage market already has the conditions for large-scale development

　　Since the second half of 2020, major global economies have successively proposed long-term “carbon neutral” targets, and emission reduction has become a global consensus. European Union leaders reached an agreement on achieving carbon neutral emission reduction targets by 2050 at the European Union Winter Summit in December, and the emission reduction process urgently needs to be accelerated.

　　The use of fossil energy is the main source of global carbon emissions. According to the statistics of the International Energy Agency (IEA), in 2019, traditional fossil energy such as oil, coal, and natural gas still accounted for 85% of global primary energy consumption. The proportion of renewable energy is only 10%.

　　In order to realize the energy transition, all countries will carry out the following operations: reduce the use of fossil energy.

　　According to calculations by the International Renewable Energy Agency (IRENA), the proportion of electricity in the final energy consumption in 2050 will need to be increased from less than 20% at present to nearly 50%. On the other hand, in the power installation structure, renewable energy sources such as photovoltaics and wind power will gradually replace traditional fossil-fuel power installations. In 2019, renewable energy accounted for approximately 26% of the global power generation, and this ratio needs to be increased to 70% or even higher in the future.

　　As the global measures to reduce carbon emissions increase, energy storage will play a more important role in the power system. Electricity generated by clean energy is limited by many practical factors, and the stability of electric power output has a large gap compared with the electric power supply of traditional energy sources. At this time, the form of energy storage system needs to be adjusted.

　　"Renewable energy + energy storage" is the ultimate solution for the future.