[SMM Analysis] 12.27-1.02, Weekly Price Trend Analysis of ESS DC-Side Battery Cabin

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. As the last week of 2024, trading activities last week were relatively sluggish, with the prices of 280Ah and 314Ah ESS battery cells remaining stable, and DC-side battery cabin prices unchanged.

SMM observed that the overall prosperity of the ESS bidding market remained high in the last month of 2024. According to incomplete statistics from SMM, the total awarded project volume in the ESS market in December was 8.31GWh/23.57GWh. The average monthly price of 2-hour power generation and grid side LFP ESS in December decreased compared to November, at approximately 0.617 yuan/Wh, down 0.043 yuan/Wh MoM. The largest ESS awarded project in December was the Shandong Independent Shared ESS Power Station EPC project, with a total construction scale of 700MW/2.8GWh. The first bid-winning candidate was the consortium of China Gezhouba Group Three Gorges Construction Engineering Co., Ltd. and China Gezhouba Group Electric Power Co., Ltd., with a bid price of 4.611 billion yuan, equivalent to a unit price of 1.647 yuan/Wh.

Looking ahead, with increasing performance requirements and usage frequency for ESS, the cost of DC-side ESS is expected to rise. However, SMM anticipates that the prices of DC-side ESS will remain at the current low level in the near term, temporarily maintaining stability.

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