Dec 07 2022

On December 5th, the residential energy storage and inverter sector suffered a big adjustment after the opening of Chinese stocks today. On the news surface, an industry executive recently revealed in the communication that the residential energy storage shipment this year has been reduced from 100,000 sets to 60,000 sets. hybrid energy storage inverters will be reduced from 200,000 to 120,000, next year residential energy storage will be reduced from 500,000 to 300,000 to 350,000 sets, and energy storage inverters were cut to more than 700,000 units from 1 million. The Chinese company said that the reduction in shipment guidance was mainly due to the economic downturn in Europe and the shortage of installation workers. The market has also expressed concerns about the industry leader's lowered shipment expectations . In this regard, Goodwe Technologies stated that company has not adjusted the relevant production and  shipment expectations. A person from the securities department of Ginlong Technologies also said that the company (shipment) has not changed and everything is normal.   The market rumors amplified the expectation of a decline in demand for residential energy storage. After research by a large domestic securities company, it was pointed out that the market reported that overseas demand continued to be strong, and the current situation of customers urging goods is still obvious, and the supply of inverters and batteries is still in a tight state. Taking Germany as an example, the installed capacity of residential energy storage this year is about 400,000. Many companies predict that the demand for next year will be 800,000 to 1 million sets. Therefore, the development space of residential energy storage is still huge.   Since 2021, the European market has been affected by rising energy prices, the price of residential electricity has risen rapidly, and the economy of energy storage has been emerged, and the market is booming.  Looking back to 2022, the Russia-Ukraine conflict intensified energy anxiety, Driven by the sense of crisis, the demand for residential energy storage will continue to grow. Looking forward to 2023, the global energy transition is the general trend, and residential energy self-use is the main way. The global electricity price has entered a rising channel, the economy of residential energy storage has been realized, and the market space will continue to grow in the future.   Looking back to 2022: European energy crisis, rapid growth of residential energy storage   The vast majority of residential energy storage is used in conjunction with household distributed photovoltaics. In 2015, the annual newly installed capacity of residential energy storage in the world was only about 200MW. By 2020, the global new installed capacity will reach 1.2GW, a year-on-year increase of 30%.   In 2021, the European market will be affected...

Nov 30 2022

  In the past two years, energy storage has been favored by various capitals. According to incomplete statistics, since the beginning of this year, hundreds of new energy storage-related companies have been established with a registered amount of 42.3 billion yuan, including 43 new energy storage technology service companies, 54 new battery companies and 7 new pumped storage companies were incorporated. Among the newly established energy storage companies from 2022 to the present , many central enterprises such as China Energy Group, State Power Investment Corporation, Datang Group, Huadian Group, China Energy Construction, Three Gorges Corporation, and State Grid have participated in the investment. On September 29 this year, Nanwang Energy Storage was established by the original Wenshan Power through a major asset reorganization and officially landed on the Shanghai Stock Exchange. It is mainly engaged in pumped storage and new energy storage businesses. The specific situation is as follows: the demand is strong, and various capitals have increased their stakes . In order to achieve the goal of "30.60" carbon peak and carbon neutrality, China has gradually established a new power system based on new energy. As the core of the new energy industry, the development of energy storage technology and industry has also attracted much attention. With the gradual expansion of market demand and the continuous support of favorable policies, not only start-ups and listed companies invest in the layout, but also major private companies and central enterprises have stepped into the value blue ocean of energy storage. Among the newly established enterprises from 2022 to the present, many central enterprises such as China Energy Group, State Power Investment Corporation, Datang Group, Huadian Group, China Energy Construction, Three Gorges Corporation, and State Grid participated in the investment. According to incomplete statistics, since the beginning of this year, 43 new energy storage technology service companies have been registered and established, with a registered amount of 8.4 billion yuan. The era is far ahead, and the data of energy storage PCS shipments of Shangneng Electric and Kehua has grown rapidly.   On the other hand, various new technologies emerge one after another, jointly promoting the sustainable development of the large storage industry. High-voltage cascaded energy storage has significant advantages in large-capacity scenarios; fires frequently occur in energy storage power stations, and policies continue to emphasize energy storage safety; liquid cooling and perfluorohexanone solutions have attracted attention; new electrochemical energy The industrialization of energy storage, flow battery energy storage, and hydrogen storage continues to accelerate; new physical energy storage technologies emerge in an endless stream, and demonstration projects such as photothermal energy storage, gravity energy storage, compressed air ener...

Nov 22 2022

BAUFAR : LONGi Green Energy recently, according to the latest certification report of the Institute for Solar Energy Research Hamelin (ISFH) in Germany, the conversion efficiency of the silicon heterojunction cell independently developed by LONGi Green Energy reached 26.81%.     Martin Green, the "father of solar energy in the world" and a professor at the University of New South Wales, announced via video on November 19 that Longi Green Energy's cell efficiency of 26.81% is currently the highest record for the efficiency of silicon solar cells in the world, regardless of the technical route. This is the latest world record after five years since a Japanese company created a monocrystalline silicon cell efficiency record of 26.7% in 2017. It is also the first time in photovoltaic history that a Chinese solar technology company has set a world record for silicon cell efficiency. Zhang Yuzhuo, secretary of the party group of the China Association for Science and Technology, said that breaking the world record is a milestone in the development history of my country's photovoltaic industry. The confidence and determination to go to the forefront of the world in the field. This was unimaginable 10 years ago. From the embarrassing situation of "three heads outside" and being constrained by others, to firmly occupying the top spot in the world's photovoltaic industry and becoming a Chinese business card in the new era, China's photovoltaics took less than 10 years. Among them, China's photovoltaic industry has experienced several ups and downs, and a rule can be summed up, that is, technological innovation is the core driving force for the continuous advancement of China's photovoltaic industry. McKinsey’s comparison radar chart of core technologies between China and the United States shows that China’s photovoltaic industry technology is definitely ahead of the United States, leading the development direction of the global photovoltaic industry. From the production links of silicon wafers, batteries and modules, Chinese photovoltaic companies have been leading the technological trend of the global photovoltaic industry.     This time, Chinese photovoltaic companies have set the highest record for the efficiency of silicon solar cells in the world, which has undoubtedly once again consolidated the technical strength of China's photovoltaic industry, pushed the limit of human commercial application of solar energy to new heights, and enhanced the core competitiveness of China's photovoltaic industry . In addition, the core of the development of photovoltaic technology has always revolved around improving efficiency and reducing the cost of electricity. The world record for the conversion efficiency of silicon solar cells created this time also provides more room for reducing the cost of electricity. "With the same area, absorbing the same light, the more electricity that can be emitted, the better." Li Zhenguo, founder and...

Nov 16 2022

By the end of 2021, China's installed capacity of energy storage will reach 42.66 million kilowatts . Among them, the installed capacity of new energy storage was 6.268 million kilowatts , a year-on-year increase of 56.4%. The new energy storage development goals planned by the provinces total more than 60 million kilowatts, which is twice the goal of reaching 30 million kilowatts by 2025 proposed in the National Energy Administration's "Guiding Opinions on Accelerating the Development of New Energy Storage Development". (China Electricity Council's "Research Report on the Operation of New Energy Distribution and Storage") According to BAUFAR's research, the average equivalent utilization coefficient of electrochemical energy storage projects is only 12.2%, and the distribution and storage coefficient of new energy is only 6.1% . Energy is 15.3%, grid energy storage is 14.8%, and user energy storage is 28.3%. Relatively speaking, the equivalent utilization coefficients of new energy distribution and storage in North China and Northwest China are higher than those in other regions.   It is reported that in October 2022, a total of 175 power storage projects (including planning, construction and operation) were announced in China, with a total scale of 51.44GW (gigawatts). Among them, there are 141 new energy storage projects with a total scale of 10.63GW/24.48GWh .   The data shows that the number of 100-megawatt-scale new energy storage projects in October increased by 12% from September . From the perspective of technology distribution, the new energy storage projects in October are still dominated by lithium-ion batteries, accounting for 91% of the power scale.   In terms of regional distribution, new energy storage projects (including planning, construction and operation) are mainly distributed in 27 places, with Guangxi, Gansu and Shanxi ranking the top three in terms of energy storage power scale . From the perspective of technology distribution, new energy storage projects in October are still dominated by lithium-ion batteries, with a scale of 9.66GW/19.84GWh, accounting for 91% of the power scale. In addition, long-term energy storage technologies such as compressed air energy storage and all-vanadium redox flow batteries also have several 100-megawatt-scale projects under planning.   From the perspective of application distribution, the grid-side energy storage scale is the largest , reaching 7.61GW/17.35GWh , and the power scale accounts for nearly 72%, all of which are independent energy storage applications; in the power supply side energy storage, continue to use new energy to configure energy storage Application-based, solar storage and wind storage basically each account for half; user-side energy storage is almost all industrial applications.   There are still many problems in new energy distribution and storage. BAUFAR understands that it is mainly reflected in the low utilization rate of new energy distr...

Nov 10 2022

At present, China is building a new energy system. The share of wind power, solar power and other new energy sources has been increasing. At the same time, the intermittency, randomness and volatility of these new energy sources put more and more pressure on the safe and stable operation of the power system, so it is urgent to accelerate the development of energy storage. Lithium battery energy storage is the fastest-growing technical route in the field of new energy storage in China.Its function in the power system is similar to a power bank, which can be charged or discharged according to the needs of the power system. At present, the construction of domestic wind power and photovoltaic bases directly drives the demand for lithium battery energy storage, the orders of related industries are growing rapidly, and the supply of products is in short supply.   The demand for energy storage in domestic new energy bases has doubled, and the supply of lithium battery energy storage products is in short supply   Yang Zhenhua, engineering director of a lithium battery energy storage system manufacturer in Beijing, said : At present, the upstream materials of LFP cells are in a state of tight supply balance, and the energy storage system is in short supply. The number of cells is more than 13,000. After assembly and commissioning, most of these newly produced lithium battery energy storage equipment will be shipped to wind power and photovoltaic bases as supporting energy storage facilities. When the power grid does not need it, excess wind power and photovoltaic power generation will be stored. Discharge during peak hours to improve the efficiency and stability of the power plant.   Yang Kun, executive vice chairman of the China Electricity Council , said : Lithium battery energy storage has the characteristics of fast response speed, flexible capacity configuration, less site constraints, and short construction period. It can effectively suppress the fluctuation of new energy output, and the response time is millisecond Yes, it can provide fast regulation services for the power system.   According to statistics, in the first three quarters of 2022, the installed capacity of new energy storage projects newly put into operation nationwide was 963.7 MW, a year-on-year increase of 120%, of which lithium-ion energy storage accounted for the vast majority. Zhang Jianhui, chairman of a lithium battery energy storage system manufacturer in Beijing: The number of orders and deliveries is about twice that of the same period last year. About half of them are from the energy storage systems supporting the wind and solar base, and about 40% are from independent shared energy storage. 10 % is the demand for energy storage on the user side. This year, the domestic industry scale is about 30 billion to 40 billion yuan.   European home energy storage market "blowout" domestic lithium battery companies speed up production expansion...

Nov 02 2022

China's energy storage industry has historically made industrial planning based on the rhythm and economy of cost reduction. If the proportion of photovoltaic wind power generation will reach the zero boundary of 25-30% in 2025 (only 7.5% in 2020), under the impact of intermittent energy on the grid, energy storage will become an inevitable choice to solve the problem of grid consumption, then In the face of the newly installed capacity of electrochemical energy storage of 1.87GW in China in 2021, the elasticity of demand growth is huge. The future of China's energy storage: market-oriented competition, multi-technical routes， the downstream of energy storage are power grids, power station operations, households, etc., which are different from automotive lithium batteries (long certification cycle and high consistency requirements) with high barriers to entry and high concentration. , it is difficult to appear an oligarchic pattern, and more is a competitive pattern centered on economic and cost advantages, more like the photovoltaic industry. Put it in the context of the industry to see the differences, evolution and future of technology routes. hydrogen energy industry chain is complex, including hydrogen production, storage and transportation, hydrogenation, stacks, etc. It is most like natural gas among the three major fossil energy sources. Although it is the cleanest, it is likely to be supplemented in the energy field in the future based on its transportation bottleneck. Not the protagonist; the application of hydrogen energy can be divided into bus, heavy truck, marine, and backup power sources with reference to Ballard's annual report . The simple way is to look for alternatives to diesel and fuel oil. It’s not much to stare at commercial vehicles, but looking at the consumption of diesel and gasoline, the former is larger. Can the ceiling of valuation be opened? In a longer period, in addition to energy applications, hydrogen energy is the emission reduction demand of a large number of industrial fields (especially chemical industry). sodium battery is likely to be faster than the market expects, mainly based on its theoretical cost advantage and the reuse of the lithium battery industry chain. Most of the production capacity from batteries to positive electrodes, negative electrodes, and separators can be used in general. This is similar to the photovoltaic field. The competition between single crystal and polycrystalline, and heterojunction are different, and the resistance of the mature industry chain is very small. Sodium battery will not subvert the competition pattern of lithium battery leader, it is more of an opportunity for the industry. We need to look for the difference between sodium battery and lithium battery on the material side, such as the process and cost difference between negative electrode and hard carbon/soft carbon, and several different routes. Cathode precursor performance and cost differences. liquid...

Oct 26 2022

According to China Energy News on October 18 , “Affected by the shortage of batteries, some energy storage companies have suspended orders. Since the end of September, the battery supply has continued to be in short supply, and the situation of companies suspending orders is quite common and the situation is getting worse. .It has attracted widespread attention in the industry! However, on October 19, China Fund News reporter interviewed a number of energy storage equipment listed companies in the past two days, and there are many leading players in the track. Among them, listed companies said that "forced to suspend orders" is not Common problems in the industry may only be individual cases in the industry. The above companies all said that the current upstream and downstream supply is normal. On the same day, Flush Finance reported that the secretary of the board of directors of a listed company in East China for energy storage equipment said. "At present, this kind of supply is tight. It can basically be reflected in the cost, but it does not suspend orders for downstream customers,” said the above-mentioned person. A person from a listed company in Shenzhen whose main business involves energy storage also said that the current production line of the company can meet customer orders and market demand. "The so-called suspension of orders may only be an individual phenomenon in the industry ," the person said. However, he also said that the company's production capacity is currently in a state of full production capacity, and the energy storage expansion plan will be considered in the later stage, but the details will depend on this year and next year. Market and customer demand. But it is worth noting that due to the resonance of global demand, it is an indisputable fact that the downstream demand for energy storage is hot. The agency predicts that this will directly promote the demand for lithium batteries, but with the industrialization of sodium batteries and vanadium batteries, this -Supply landscape will change dramatically. Anxiety focuses on lithium battery supply In fact, the industry's anxiety about the "stop order" of energy storage is more due to the supply of lithium-ion batteries. Due to the first to achieve industrialization, lithium-ion batteries occupy a mainstream position in the energy storage track. According to Zhongguancun energy storage data, in 2021, lithium-ion batteries will account for 89.7% of the market share of China's new energy storage capacity. They are the most representative new energy storage technology and are currently widely used in 1-2 hours of medium and short-term energy storage scenarios. It is also used in energy storage projects of 4-8 hours. In the view of the aforementioned listed companies, the price of lithium carbonate has remained high for a long time due to the explosive growth of new energy vehicles. According to the high-tech lithium battery data, the global energy storage lithium...

Oct 21 2022

The standardized development of the energy storage industry will welcome the guidance of policy documents. On October 9, the National Energy Administration released the Action Plan for the Improvement of Energy Carbon Peak and Carbon Neutralization Standardization, which listed "speeding up the improvement of new energy storage technology standards" as one of the key tasks. The energy storage industry has frequently pressed the accelerator button recently. In March this year, a document jointly issued by the National Development and Reform Commission and the National Energy Administration proposed that during the "14th Five-Year Plan" period, my country's new energy storage will enter a period of large-scale development from commercialization. BAUFAR understands that the rapid development of the industry presents more challenges for the standard setting work. Tang Liang, the standard manager of the Zhongguancun Energy Storage Industry Technology Alliance, told Shell Finance reporter that with the explosion of the energy storage industry around 2020, technological innovation is also changing with each passing day, and the standard formulation work often faces the situation that it cannot keep up with the implementation of projects and technological innovation. In the actual work of standard formulation, there are still many difficulties to be solved. The energy storage industry has ushered in an acceleration, and the formulation of standards still needs to keep up. The "Action Plan" proposes to improve the new energy storage standard management system, combine the needs of new power system construction, and according to the needs of new energy generation grid-connected configuration and the integration of source, network, load and storage, to quickly establish a new energy storage project that covers the construction, production and operation of the whole process. And the standard system of professional and technical content such as safety and environmental protection, technical management, etc. At the same time, refine the types of energy storage power stations connected to the power grid and application scenarios, and improve the safety design, testing and acceptance standards for access to the power grid system. Accelerate the development of new mandatory national standards for energy storage safety such as lithium battery safety for energy storage and energy storage power station safety. In addition, combined with the innovation of new energy storage technologies and the expansion of application scenarios, the formulation and revision of relevant standards will be carried out in a timely manner to comprehensively promote the coordinated development of R&D, demonstration applications and standard formulation of various new energy storage technologies. In the field of energy storage, policy documents such as the "14th Five-Year Plan for New Energy Storage Development", "New Energy Storage Project Management Specification (Interim)" and "Noti...

Oct 08 2022

On September 26, the National Development and Reform Commission held a press conference to introduce the construction of major infrastructure. Song Wen, deputy director of the Planning Department of China's National Energy Administration, said at the meeting that after years of development, China has become the world's largest energy producer, and has built a diversified and clean energy supply system that spans east and west, north and south, covering The national and overseas energy infrastructure network has effectively guaranteed the energy demand for economic and social development.   First, the infrastructure to ensure energy supply is more complete. The world's largest power system has been built, with an installed power generation capacity of 2.47 billion kilowatts, exceeding the total installed capacity of the G7 countries; the length of transmission lines of 35 kV and above has reached 2.26 million kilometers, and 33 UHV transmission channels have been built and put into operation. Nearly 300 million kilowatts, the installed capacity of power generation, transmission lines, and West-to-East power transmission have increased by 1.2 times, 0.5 times, and 1.6 times, respectively, compared with ten years ago. The "one national network" of oil and gas has initially been formed, with a pipeline network of more than 180,000 kilometers, doubling from ten years ago. In the past ten years, energy production has supported an average annual growth of 6.6% in the national economy with an average annual growth of about 2.4%, and the energy self-sufficiency rate has been stable at over 80% for a long time.   The second is to accelerate the construction of energy infrastructure to promote green transformation. The total installed capacity of renewable energy power generation exceeded 1.1 billion kilowatts, an increase of nearly three times compared with a decade ago, accounting for more than 30% of the total installed capacity of renewable energy in the world. The installed capacity of hydropower, wind power, photovoltaic, biomass power generation and the scale of nuclear power under construction rank first in the world. About 4 million units of charging infrastructure will be built, forming the world's largest charging network. A total of more than 270 hydrogen refueling stations have been built, accounting for about 40% of the global total, ranking first in the world. Non-fossil energy consumption accounts for nearly a quarter of the world's total, ranking first in the world.   The third is to realize the universalization of energy and people's livelihood infrastructure. Urban and rural energy infrastructure has been further improved, and the electrification level of terminal energy consumption has increased from 22.5% to 27% in the past ten years, an increase of nearly 5 percentage points. The per capita electricity consumption exceeds that of the United Kingdom, Italy and other countries. Over the past ten years, the state has alloca...

Sep 30 2022

Under the guidance of China's "dual carbon" goal, energy storage, as an important support for the development of renewable energy and the construction of a new power system, is also becoming a "new power" in the competition of China's central power enterprises while the industrial development has entered the "fast lane". track".    At the 28th Central Enterprise Think Tank Salon and the 3rd "Liupu Kang Energy Forum" hosted by the Central Enterprise Think Tank Alliance and undertaken by the General Institute of Hydropower and Water Conservancy Planning and Design on September 23 , "energy storage" became the participating experts and enterprise representatives repeatedly mentioned keywords. Yi Xuedong, director of the Research Center of the State-owned Assets Supervision and Administration Commission of the State Council of China, pointed out at the forum that the role of central enterprise think tanks should be brought into play to accelerate the coordinated development of new power systems. The new power system is characterized by new energy as the main body, which determines that energy storage will play an important supporting role in its construction process. Li Sheng, Dean of the General Institute of Hydropower and Water Conservancy Planning and Design, believes that the construction of a new power system will go through three stages of gradual development. %; second, in the stage of accelerating construction, the path of low-carbon power system is basically clear and actively promoted. After the carbon emission of power system remains stable, it begins to decline, and the proportion of new energy electricity in some areas exceeds 50%; third, in the stage of full realization, zero-carbon power system The path is basically clear, various new technologies continue to make breakthroughs, coal power and other high-carbon power sources are withdrawn in an orderly manner, and new energy power accounts for more than 50% and continues to increase, becoming the main power consumer. 　　 "It is necessary to scientifically understand the characteristics of existing renewable energy." Yue Guangxi, an academician of the Chinese Academy of Engineering, pointed out that under the existing technical conditions, it is necessary to correctly match the basic energy capacity and the capacity of unstable renewable energy to maintain the safe and stable operation of energy; energy storage is required. Only by making breakthroughs in new technologies such as flexible peak shaving, can reduce the proportion of basic energy capacity. "Energy storage is an essential measure for building a new type of power system in source, network, and load to realize the decoupling of power generation and use." Peng Cheng, chief technical expert of China Power Construction Group Co., Ltd., said that vigorously developing energy storage is an important current state-owned power enterprise. race track. In 2021, the State-owned Assets Supervision and Administration C...

Sep 23 2022

China held the ninth press conference on the theme of "Industry and Information Development in the New Era" on the 20th. Qiao Yueshan, director of the Electronic Information Department of the Ministry of Industry and Information Technology, said at the press conference that it is necessary to speed up the revision and improvement of the photovoltaic standard system, and promote the construction of public service platforms such as photovoltaic module recycling and carbon footprint verification. Qiao Yueshan said that in recent years, the scale and market application of my country's photovoltaic industry have achieved rapid development. In 2021, the output of polysilicon, silicon wafers, cells and modules in the main links of China's photovoltaic industry chain will reach 506,000 tons, 226.6 GW, 197.9 GW and 181.8 GW respectively, accounting for more than 70% of the global output; newly installed photovoltaic capacity is 54.88 gigawatts, ranking first in the world for nine consecutive years. Ministry of Industry and Information Technology of China has issued and implemented policies such as the Standard Conditions for the Photovoltaic Manufacturing Industry and the Action Plan for the Innovation and Development of the Smart Photovoltaic Industry (2021-2025) to establish an industry development baseline and guide the photovoltaic industry to rationally plan layout and intelligently upgrade. Closely track the hot and difficult issues in the industry, and jointly issue the "Notice on Promoting the Coordinated Development of the PV Industry Chain and Supply Chain" with relevant departments to guide the upstream and downstream industries to strengthen cooperation. Support the construction of photovoltaic industry organizations, build a communication platform, encourage the photovoltaic industry to "go global" and strengthen international cooperation along the "Belt and Road". 　　According to the analysis of BAUFAR company , the next step, the Ministry of Industry and Information Technology of China will strengthen the overall planning of the industry, accelerate the promotion of the high-quality development of the photovoltaic industry, and contribute more to the realization of the goal of carbon peaking and carbon neutrality.　　 First, continue to guide the healthy development of the industry. Implement policies related to the "14th Five-Year Plan", standard conditions for the photovoltaic manufacturing industry, smart photovoltaic innovation action plan, and coordinated development of the photovoltaic industry chain and supply chain to guide the continuous transformation and upgrading of the industry. The second is to accelerate the promotion of industrial integration and innovation. Issue the "Guiding Opinions on Promoting the Development of the Energy Electronics Industry" to promote innovative breakthroughs in solar photovoltaics, new energy storage batteries, key terminal applications, key information technologies and products. The third is to stren...

Sep 16 2022

Solar panels: Capacity to follow up demand, integration rate improvement In 2023, the module production capacity will be followed up, and the integration rate of integrated enterprises will be further improved. Component production capacity is asset-light, the construction period is short, there is generally no supply problem, and it can respond relatively quickly to changes in demand. By the end of 2021, the module production capacity will reach 465.2GW. Neutral expectations are that it will reach around 570GW and 700GW by the end of 2022 and 2023, respectively, with a year-on-year growth. Against this background, for integrated module companies, the integration rate is expected to further increase. Inverter: Accelerate production capacity expansion, and increase shipment expectations Since 2022Q2, the inverter has still shown a high boom, the reasons include the recovery of the epidemic, the improvement of IGBT, and the superposition of European households, especially the outbreak of demand for household energy storage. While companies are accelerating production expansion, considering the flexibility of production capacity, inverter companies have raised their shipment expectations one after another. Each company’s shipment growth rate in 2023 is expected to be at the level of 60%-100%. At the same time, the structure is further inclined to energy storage. , the proportion of energy storage profits continued to increase. Domestic and foreign situation Since 2020, domestic and foreign countries have driven the growth of installed capacity from top to bottom, improving the certainty and growth of the industry's long-term space. We will increase global power generation by 2.5% in 2020-2030 and 2.0% in 2030-2060; gradually withdraw coal power and thermal power, and develop hydropower, nuclear power, and biomass on a small scale; mainly develop energy systems with wind and solar energy storage as the mainstay . According to the current conservative planning goals of various countries, it is estimated that by 2030 and 2060, the conservative new installed capacity of photovoltaics in the world will be more than 1000GW and more than 2400GW; HFCN believes that photovoltaic LCOE can currently achieve a power generation cost of less than 5 cents in most parts of the world, and it is currently 30 cents in China. The parity we calculated is based on the electricity price of 5,500 kcal coal before 2019 under the condition of less than US$80 per ton all the year round. At present, the foreign market of coal is 400 US dollars, and the price of natural gas in Europe is not to be mentioned. LNG from the United States, the Middle East, Australia and other places also followed suit. Now photovoltaic power generation is not cheap, but the era of cheap. Therefore, early installation of photovoltaics benefits early.