NARADA Power Source Asserts Chinese Battery Costs Maintain Advantage over US Despite 25% Tariff Hike on Energy Storage Batteries

Published: Sep 24, 2024 15:39

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【NARADA Power Source: China's Battery Costs Remain Superior to the US Even with a 25% Tariff Increase on Energy Storage Batteries】SMM learned that NARADA Power Source stated on the investor interaction platform on September 20 that according to the new tariff act in 2024, the tariff rate on energy storage batteries will increase from 7.5% to 25%. This change has a two-year window from planning to implementation, and currently has no impact, giving the company ample time for strategic adjustments in its global layout. The US energy storage market saw an increase of 8736MW/25978MWh in new installations in 2023, up 82% and 84% year-on-year, respectively. The proportion of energy storage batteries in the cost of energy storage systems has declined, and it is expected to have limited impact on overall profitability. Additionally, due to slower project progress by local suppliers in the US, domestic enterprises enjoy significant cost advantages. Even with the tariff increase to 25%, the cost of Chinese batteries remains superior to that of the US, and domestic energy storage system products still possess clear competitiveness.

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