According to a survey report recently released by Bloomberg New Energy Finance, it is estimated that by the end of 2030, the total installed energy storage system worldwide will be 358GW/1,028GWh. Analysts pointed out that this boom in the energy storage market will attract more than $262 billion in investment. With the advent of the new year, there are still many interesting trends in the energy storage industry, and people will see that the energy storage industry will continue to grow at a faster rate in 2022.

　　The survey shows that continuous progress in battery materials and manufacturing processes will drive the cost of battery energy storage systems to continue to decline in the next few years. US President Biden signed the "Infrastructure Investment and Employment Act" and approved the National Energy Infrastructure Federal Fund, which is an encouraging news. U.S. power infrastructure investment will be given priority, which will provide a huge opportunity for the construction of more renewable energy power generation facilities.

　　As the demand for renewable energy continues to grow, we will also see long-term energy storage becoming more important. The average continuous discharge time of the energy storage system will increase by more than 2 hours, and this progress has already occurred in the US market. In the foreseeable future, there will be more and more deployments of 4-hour energy storage systems and renewable energy.

　　In addition to the expected explosive growth in 2022, some worries are also expected. Globally, labor shortages pose a threat to various industries. This is especially true in the energy storage industry, because the talent in the energy storage industry is in short supply and often requires advanced technical training. Some companies are working hard to provide training and workforce development plans for employees in the fossil fuel-based energy industry, but on the whole they face the challenge of changing the way of thinking, recruiting, training, and retaining new talents.

　　The supply bottleneck and supply imbalance of batteries and lithium materials will remain a challenge in the short term. The demand for low-cost lithium-ion batteries has hit a record high, especially with the increase in demand for electric vehicles (EV). The survey shows that the global lithium-ion battery market is expected to grow from US$41.1 billion in 2021 to US$116.6 billion in 2030.

　　The increase in electric vehicles will intensify the pressure on energy suppliers in 2022 and bring opportunities to the energy storage industry. Research shows that by 2050, electric vehicles may increase energy use by 33% during peak power demand. In this process, we will see that electric vehicle charging puts greater pressure on the grid, and more and more large-scale energy storage systems that can quickly charge electric vehicles are needed. The British government and energy developer Pivot Power have developed a power grid composed of battery energy storage systems and renewable power generation facilities for fast charging of electric vehicles in British highway service areas.

　　Ultimately, the energy storage industry will continue to move forward, because the expansion of energy storage deployment is essential to accelerate the completion of the goal of reducing carbon emissions. The energy storage system is the cornerstone of the growing popularity of renewable energy, and the key to us getting more value from it.

　　Lithium-ion battery (LIB) has become the main energy storage solution in modern social life. Among them, lithium iron phosphate batteries are a perfect replacement for lead-acid batteries, and they are the first choice for grid-connected peak shaving, off-grid energy storage, photovoltaic energy storage, UPS, data center and other industries.