Nancai Research News | Southern Finance: Huatai Securities Forecasts Growth in Domestic Energy Storage Market by 2024
In a recent research report released by Huatai Securities, it has been predicted that the domestic energy storage market is set to experience rapid growth by the year 2024. The report highlights that energy storage installed capacity is expected to continue its upward trajectory in the coming years, with the bidding market showing strong performance that will support installation in 2024.
The report also mentions that during the “14th Five-Year Plan” period, the national energy storage installed capacity plan has surpassed 80GW. Additionally, the price of the photovoltaic storage industry chain is anticipated to drop significantly by 2024, leading to increased demand for photovoltaic distribution and storage projects. Market-oriented projects with higher requirements for distribution and storage are on the rise, with energy storage configuration being included as a key criterion in wind and solar competitions in various regions.
Furthermore, policies are being introduced to enhance the energy storage profit model and accelerate the marketization process. As a result, the installed capacity of the domestic energy storage market is projected to reach 65.1~79.9GWh in 2024, with a year-on-year growth rate of 39.6%~71.5%. The absolute scale is expected to reach 72.6GWh, representing a year-on-year increase of 55.8%.
It is important to note that the information presented in the report is for reference purposes only and should not be considered as investment advice. Readers are advised to conduct their own research and analysis before making any investment decisions.
For more updates on stock market trends and policy information, interested individuals can download the official APP of “Securities Times” or follow their official WeChat account. Stay informed and seize wealth opportunities in the ever-evolving energy storage market.