Guangdong Nengjie Technology Co., Ltd

On July 14, Guangzhou Energy Storage Development Group Co., LTD. (hereinafter referred to as “), with a registered capital of 2 billion yuan and the main business of manufacturing related products of energy storage battery industry chain; Guangzhou Energy Storage Group ”) The establishment of.

“ The purpose of establishing Guangzhou Energy Storage Group is to seize the trillion-level track of the (new) energy storage industry. ” A shareholder executive of the group told the first financial reporter.

in “ Double carbon ” Under the goal, new energy storage is becoming a Guangdong building “ Manufacturing is in charge ” The strategic pillar industry is also a trillion-level industrial track that is racing to seize all over the country.

Not only Guangzhou, new energy storage has become a popular investment around the country. Since the beginning of this year, the new energy storage industry has accelerated, and the number and types of enterprises entering the energy storage battery link in the industrial chain have reached the highest level in history.

However, some industry respondents told reporters that with the influx of a large number of enterprises, the continuous release of energy storage battery capacity, and the industry business model is not yet mature, so that the development of the industry is full of challenges and variables. “ Some energy storage battery production lines have been discontinued. ” "One interviewee said.

 

All want “ Seize the high ground ”

On July 14, the first financial reporter was in the GAC Zhailian New energy Automobile Industrial Park, located in Panyu District, Guangzhou, an area of 666 acres “ Power battery + energy storage battery project ” The site interview saw that workers are under construction, cranes, forklifts, delivery trucks, coming and going.

How big is 666 acres? Equivalent to the total area of 62 standard football fields. There are nearly 1,500 people working on the project alone.

 

This is currently the largest power battery + energy storage battery project in Guangzhou, the main investor Inpai Battery Technology Co., LTD. (hereinafter referred to as “ Inpai battery ”) Gac Aean Holdings, a subsidiary of GAC Group, was registered and established on October 26, 2022, with a registered capital of 1 billion yuan, less than two months after registration, the project officially began piling.

According to the plan, due to Pai battery “ Power battery + energy storage battery project ” By the end of 2025, all production lines of about 18GW scale will be imported, which will meet the installed demand of 600,000 new energy electric vehicles, and the annual output value will exceed 21 billion yuan. This planned capacity is 2.4 times the new scale of new energy storage added in the country in the past year. In 2022, China's new energy storage capacity reached a record high of 7.3GW.

The reporter was informed that the Inpai battery project will be put into production several months ahead of the original plan, and the initial production battery installed capacity is about 3GW. This scale can meet the installed demand of 100,000 new energy electric vehicles.

 

Pai in “ Hurry up ” Behind, Guangdong Province is also promoting the development of new energy storage industry.

The "Guiding Opinions on Promoting the High-quality Development of New Energy Storage Industry in Guangdong Province" (hereinafter referred to as the "Opinions") released in March 2023 said that by 2027, the operating income of new energy storage industry in Guangdong province will reach 1 trillion yuan. This is equivalent to 1/13 of Guangdong's gross domestic product (GDP) in 2022.

In addition to Guangdong, various provinces have also shouted similar “ Seize the commanding heights of new energy storage industry” The slogan of... According to the "New energy distribution storage Operation Research Report" released by the China Electric Power Union, as of December 2022, nearly 30 provinces in the country have introduced “ Fourteen five ” New energy storage planning or new energy configuration energy storage documents, with a total development goal of more than 60 million kilowatts (60GW).

The first financial reporter found through Tianyan investigation that up to now, there are nearly 90,000 enterprises related to energy storage. Among them, since January 2022, March 22, 2023, energy storage related enterprises added 42,000. In other words, in more than a year, the country has an average of nearly 100 new companies entering the energy storage field every day.

From the geographical distribution of newly registered enterprises, Guangdong ranked first in the region with more than 4630; Jiangsu and Beijing ranked second and third, with more than 3,570 and 3,240, respectively.

It is worth noting that from 2018 to 2022, the number of newly registered energy storage related enterprises has increased year by year, respectively, 3631, 4509, 4006, 7088 and 37045. Among them, the number of newly registered enterprises in 2022 far exceeds the total of the last four years.

The installed capacity exceeds the Three Gorges tens of times

At the beginning of the establishment of Pai battery, the original strategy was to produce power batteries first, and then produce energy storage batteries, but with the introduction of the Guangdong "Opinion", the strategy was adjusted to parallel production of two batteries.

In fact, some power battery companies have turned to the energy storage battery circuit.

Energy storage batteries, as the upstream link of the energy storage industry chain, occupy 60%-70% of the value chain of the industry, and control the battery to a certain extent, master the cost reduction of the energy storage system. Password ” . Energy storage battery has thus become a new type of energy storage industry “ A place to be fought for by all soldiers. .

The current mainstream forces of incoming energy storage batteries can be roughly divided into four categories. One is to include Inpai Battery and Guangzhou Energy Storage Group “ New power ” . Such enterprises also Haichen energy storage, Chuneng New Energy, Baofeng Group, Shenghong Kinetic Energy and so on.

The second is power battery manufacturers. At present, there are at least 30 mainstream power battery companies “ Enter ” Energy storage battery circuit, Ningde times (300750.SZ), BYD (002594.SZ), Rupu Lanjun, Yiwei Lithium Energy (300014.SZ), Guoxuan High-tech (002074.SZ), Xinwang Da (300207.SZ) and other strong code energy storage batteries.

The third is the manufacturer of photovoltaic products. Photovoltaic companies are aggressively involved in energy storage batteries to accelerate the vertical integration layout. These companies are Trina Solar (688599.SH), JinkoSolar, Atlas (688742.SH), GCL Group, etc.

The fourth is the field of new energy storage “ Older players ” . These enterprises are mainly power battery manufacturers that turn energy storage into their main business after entering the office earlier, such as Penghui Energy (300438.SZ), Nandu Power Supply (300068.SZ), and Zhongtian Energy Storage.

Informed people told the first financial reporter, in these “ Older players ” Some have dissolved the power battery team and turned to do new energy storage on the spot.

According to the incomplete statistics of industry institutions such as the Energy Storage Research Institute of High-tech Industry Research, Haichen energy storage and many other “ New power ” About 445GW of energy storage battery capacity has been planned. In addition, from the shipments of Ningde Times, BYD, Rupu Lanjun, and Yiwei Lithium energy, the energy storage battery capacity of the layout of power battery enterprises should be no less than 300GW.

That is to say, the energy storage battery capacity of these two mainstream forces alone exceeds 745GW. According to this calculation, this is nearly 30 provinces in the country “ Fourteen five ” The total installed capacity of new energy storage planning is 12.4 times of 60GW, which is 5 times of the global new energy storage installed capacity of about 148GW in 2025, and is equivalent to the total installed capacity of 33 Three Gorges hydropower stations.

 

The great leap forward of energy storage battery production capacity has led to the production line of some enterprises being forced to stop production.

The management of an energy storage battery manufacturer told the first financial reporter with the case of the company: Last year, due to the short supply of energy storage batteries, customers directly took cash to the workshop of the company's participation in the energy storage battery manufacturing company to invest in the construction of the production line, and then pay and the latter to buy the products produced on the production line. However, since this year, due to the oversupply of energy storage battery capacity, the production line invested by the customer has been discontinued.

 

The capacity target planning mentioned very high, ultimately depends on the degree of market digestion, market resources more test the competitiveness of an enterprise.

Industry bodies pointed out that the new energy storage market in the first half of 2023 “ The water is in dire straits ” On the one hand, the trillion circuit has attracted many players to layout, which is accelerating the rapid arrival of the industry reshuffle; On the other hand, the prices of all aspects of system integration are falling, the output value is decreasing, and the shipments of overseas households in the first half of the year are less than expected, and the inventory pressure of enterprises is large.

Industry data show that the average price of energy storage system in the first May of this year continued to decline as a whole, and the weighted average price in June was 1.115 yuan/watt-hour, a cumulative decline of 31.6% from January to June.

How to build a healthy business model

“ Who will you sell your products to in the future? ” Inpai Battery technology quality Department Minister Liu Taigang introduced that Inpai battery production line can switch back and forth in power batteries and energy storage batteries, can flexibly respond to market demand. “ Inpai's future products will first be used inside the factory. Inpai Battery Factory is a. Optical storage & Charging ’ Integrated factory, workshop roof is all photovoltaic, but also equipped with energy storage system and charging pile. by Optical storage & Charging ’ Project, we can grasp the real needs of users clearly, so as to be competitive in the future competition. ”

In Guangdong, especially Guangzhou, there are many industrial and commercial enterprises, plus the peak valley difference of energy storage price is high, and two charges and two discharge can be achieved, making industrial and commercial energy storage more economical and investment value. Many factories above the scale of Guangzhou are related to GAC Group. In other words, relying on the mountain of GAC Group, the energy storage products of Pai Battery have relatively stable market demand.

Business model is an insurmountable mountain in the development of new energy storage industry. In the view of respondents such as Liu Taigang, this is also the current industry “ Pain points and difficulties ” .

Ru Huitong, deputy general manager of the Three Gorges Energy Shandong Branch, has publicly said that the key to new energy distribution and storage is not the time, proportion, but did not establish the corresponding cost of dredging ways, income expectations are generally insufficient, distribution and storage generally erode the profits of new energy, becoming a new energy “ Parasite ” .

The "Research Report on the Price Mechanism for Adapting to the New Power System" previously released by the China Electric Power Union pointed out that there are many problems in the new energy distribution storage policy: small compensation for auxiliary services and unreasonable compensation mechanism; The cost is not well channeled to the user side, and the auxiliary service cost is mainly shared by the power generation enterprises, which cannot transmit the cost pressure to the user.

From the perspective of the power side of the new energy storage application scenario, the current owners of domestic power storage are concentrated “ Five big six small ” Power generation group, “ Two construction ” At present, owners can not achieve better profits through energy storage, and to a certain extent, new energy storage will be an additional burden on new energy projects.

Hu E Sheng, director of the China Photovoltaic Industry Association, told the first financial reporter that the construction side of the new energy power station is still wait-and-see for whether to build a new energy storage power station.

 

“ At present, the energy storage business model is not mature, last year the battery price is high, energy storage projects have more planning and less landing, the record does not build or build without problems. ” Zhongguancun energy storage industry technology Alliance secretary general Liu Wei said recently.

Taking Guangdong as an example, the first financial reporter found through the Guangdong investment project online approval and supervision platform that from 2020 to now, after filing on the platform “ Withdraw ” Or “ Void ” A total of 26 new energy storage projects. Among them, Guangzhou Hengyun Energy Storage Technology Co., Ltd. alone, there are 3, with a total investment of 3 billion yuan.

In view of the current business model problems facing the industry, Ru Huitong suggested that we should think from the perspective of the power spot market, establish a mechanism as soon as possible, guide the distribution of energy storage to participate in the power spot market, play the overall linkage role of the distribution of energy storage and new energy power stations, and maximize the benefits of new energy projects. If such a consensus is formed, the market will move from “ Ask me to store ” Transform into “ I want to stock up. .

At the 11th Energy Storage International Summit and Exhibition on April 7, Xiang Haiping, chief engineer of the National Energy Administration, said that as a new technology and new format, the development of new energy storage is still facing many risks and challenges, and it is necessary to focus on the relationship between construction and use, not only to speed up planning and construction, but also to pay attention to scheduling and use; At the same time, we should deal with the relationship between short and medium term; It is also necessary to strike a balance between development and security.