Peak Energy to Build First U.S. Grid-Scale Sodium-Ion Energy Storage System Factory

[SMM Analysis] In H1, the overflow of global utility-scale energy storage long-term contracts intertwined with the growing pains of production line upgrades. This not only completely shattered the cyclical pattern of "retreat after rapid rise" in the energy storage market, but also directly triggered a structural shortage and a strong price recovery for 314Ah battery cells. Furthermore, driven by the looming cancellation of tax rebates at year-end, an even more intense wave of "export rush" is gaining momentum, potentially pushing the full-year battle between volume and price to its peak.

[SMM Analysis: Demand Drives Continuous Growth in Electrolyte Production in H1 2026, Prices in the Doldrums Due to Structural Disturbances in Raw Materials] According to SMM statistics, China's electrolyte production in H1 2026 was approximately 1.416 million mt, up about 56% YoY from H1 2025.

[SMM Analysis] In the current ESS market, 314 Ah battery cells firmly hold a dominant position. Influenced by raw material inventory depletion and the lithium price linkage mechanism, their prices exhibit a complex game of "bottom lifting and top pressing"; while 500 Ah+ ultra-large capacity cells have been shipped, large-scale volume ramp-up is expected only in H2 2027.