According to Sina Finance, following the self-discipline initiative in the PV industry, the PV inverter and ESS sectors may follow suit. Sources revealed that the China Photovoltaic Industry Association recently organized a symposium to prevent cut-throat competition in PV inverters and ESS, where a proposal for the healthy development of the inverter and ESS industries was preliminarily reviewed. The meeting was held behind closed doors, with executives from over 20 top-tier enterprises in attendance. Companies such as Sungrow, Huawei, CRRC, CATL, EVE, GoodWe, Growatt, Ginlong, Sineng Electric, Chint, TBEA, Hoymiles, Hopewind, Deye, Sofar, APsystems, and Envision spoke at the meeting.
In February, China's new-type energy storage installations reached 1.24GW/2.89GWh, with capacity up 153.5% YoY. The scale of awarded bids for ESS continued to grow rapidly YoY, with the total scale of ESS systems and EPC reaching 4.6GW/14.9GWh, and capacity up 49% YoY. A China Galaxy research report noted that ESS maintains high growth momentum, with a cumulative installed capacity CAGR of 37% from 2023 to 2030, combining high growth potential and certainty. Long duration energy storage (LDES) and grid-forming ESS are emerging as promising players in the new-type power system.
According to the Cailian Press thematic database, among the relevant publicly listed firms:
Deye saw continued improvement in grid connection demand in markets such as Brazil, India, and Germany in H1 2024, while household ESS demand surged in emerging markets like Southeast Asia and the Middle East. Benefiting from its leading position in emerging markets across Asia, Africa, and Latin America, the company experienced strong shipment momentum.
GoodWe leverages its self-developed technologies in new energy power supply inversion, ESS conversion, and energy management to offer PV ESS inverters with single-unit power ranging from 3kW to 100kW, as well as solutions for microgrids and industrial and commercial ESS.
