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On March 21 of this year, the National Development and Reform Commission and the Energy Administration officially issued the "Implementation Plan for the Development of New Energy Storage during the 14th Five Year Plan" (referred to as the "Implementation Plan").

The Implementation Plan clearly stipulates that, By 2025, the new type of energy storage will enter the stage of large-scale development from the initial stage of commercialization, with the conditions for large-scale commercial application. Among them, the performance of electrochemical energy storage technology will be further improved, and system costs will be reduced by more than 30%. By 2030, the new type of energy storage will be fully market-oriented. The core technology and equipment of new energy storage will be independently controllable, with technological innovation and industrial level ranking among the top in the world, and the market mechanism, business model, and standard system will be mature and sound, Deeply integrating and developing with various aspects of the power system, it basically meets the needs of building a new type of power system, and comprehensively supports the achievement of the carbon peak goal in the energy field as scheduled Based on this, it is widely believed that the energy storage market is the next trillion dollar market that is about to explode, with great development potential.

According to the definition of the National Energy Administration, energy storage refers to the process of storing energy through a medium or device and releasing it when needed. According to the different forms of energy storage, energy storage can be divided into thermal energy storage, electrical energy storage, and hydrogen energy storage, currently mainly electrical energy storage. And electrical energy storage can be divided into electrochemical energy storage and mechanical energy storage, among which electrochemical energy storage mainly refers to familiar battery energy storage, including lithium batteries, lead batteries, sodium sulfur batteries, etc. Mechanical energy storage mainly includes pumped storage, compressed air storage, flywheel energy storage, etc.