The four major materials of lithium batteries (positive materials, negative materials, electrolyte and diaphragm) have experienced a new round of capacity expansion, increased market supply and intensified product competition, and prices have all declined to varying degrees. The price of the core determines the trend of the energy storage system price, and it is expected that the upstream raw material supply capacity will continue to increase by the end of the year, and the price of the energy storage system will also hover at a low level.

Under the trend of declining raw material costs, 2023 has ushered in a wave of installation. According to statistics, the number of projects (including planned, under construction and operating projects) in the first half of 2023 was 850, more than twice that of the same period last year. The newly added installed capacity was 8.0GW/16.7GWh, exceeding the new installed capacity level of last year (7.3GW/15.9GWh). June this year ushered in the "small grid-connected tide", the monthly installed capacity reached 3.95GW/8.31GWh, accounting for 50% of the total newly added installed capacity in the first half of the year.