[SMM Analysis] Weekly Price Trend Analysis of Energy Storage DC-Side Battery Cabin, 12.19-12.26

This week, the prices of DC-side battery cabins remained stable overall. Specifically, the average prices of 3.42MWh and 3.77MWh battery cabins were both 0.445 yuan/Wh, while the average price of 5MWh battery cabins was 0.435 yuan/Wh. This price level has remained stable for nearly a month. The stability in prices may be related to the approach of year-end, as most energy storage integration companies have closed their accounts by mid-December and are now conducting annual financial reviews. The contract cycle for new orders requires at least 1-2 weeks, resulting in fewer new transactions in the market recently. Currently, the market is primarily fulfilling existing orders, which has led to no changes in the prices of DC-side battery cabins this week.

Additionally, SMM observed a slight increase in the winning bid prices of energy storage projects in the bidding market compared to early December. However, there were some projects with relatively low bids, such as the Ningxia Wuzhong 100MW/400MWh shared energy storage power station EPC project, where the first winning bid price was 0.527 yuan/Wh. Other projects maintained prices within the range of 0.9-1.2 yuan/Wh.

Finally, SMM learned that a recent closed-door seminar was organized within the industry, focusing on the core topics of "anti-cut-throat competition, anti-below-cost price competition, raising entry thresholds, and standardizing technical conditions." Against the backdrop of surplus capacity and oversupply, many companies remain pessimistic about the effectiveness of this meeting. However, similar to the PV industry, this meeting represents an attempt by the energy storage sector to address the current "cut-throat low-price competition" in the domestic market. Moving forward, SMM expects the prices of DC-side battery cabins to remain stable, with the period for bottoming out and rebounding yet to arrive.

SMM New Energy Industry Research Department

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Yushuo Liang 021-20707892

Jie Wang 021-51595902

Yang Xu 021-51666760

Boling Chen 021-51666836