From Digitization to ESG: Top Trends Driving I&C Energy Storage in 2023

From the perspective of the power system, the application scenarios of energy storage are divided into the generation side, grid side, and user side. According to different demand scenarios, it can be divided into large-scale energy storage, I&C (industrial and commercial) energy storage, and household energy storage.

So, which energy storage business model is more promising?

Different countries have different structural characteristics of the electricity market, and the corresponding development models of the energy storage market are also different.

For example, the European and American electricity markets are more complete and more market-oriented, and their energy storage business models are also more diversified. Especially under the influence of European national conditions, a large number of household energy storage needs have been generated. In comparison, due to China's cheap electricity prices and well-developed grid infrastructure, large-scale energy storage is the main force for its development. In the past year, the newly installed capacity of large-scale energy storage accounted for 92% of the total newly installed capacity. But the same goal by different routes, whether it is household storage or large-scale energy storage, it is an obstacle-packed and long. As an initial stage of industrial and commercial energy storage, what is the development trend in 2023?

I&C energy storage is classified as lightweight energy storage. Unlike the "new infrastructure" of hundreds of MWh or several GWh of power storage, I&C energy storage is more like a consumer product, with a complete profit model and a strong market prospect.

From the product itself, I&C energy storage systems include systems, batteries, BMS, PCS, EMS, transformers, racks, connecting cables, confluence cabinets, lightning protection and grounding systems, monitoring and alarm systems, etc. At present, the trend of I&C energy storage is obvious.

Wider Coverage and more Complete Functions

First of all, product design schemes with wider coverage and more complete service functions can adapt to the diverse needs of I&C users and will become one of the important means for companies to compete for I&C market share.

At present, enterprises entering the industrial and commercial track have begun to think about the characteristics and core of the industrial. The new I&C energy storage systems are all modularized, and the system voltage and capacity can be flexibly configured. Modular and intelligent functions may become standard equipment for industrial and commercial energy storage.

In terms of industrial and commercial energy storage, the cycle life of batteries directly affects the rate of return and I&C energy storage calls for battery products with longer cycle life.

Digitalization & Intelligence

Another driving force for I&C energy storage to gain capital attention is that products are developing in the direction of digitalization and intelligence.

Why do we say that? In addition to economy, safety is also a rigid rule that cannot be avoided in the development of I&C energy storage. In terms of ensuring the safety of electricity use, digitization is obviously more effective than experience.

With the rapid growth of the installed capacity of energy storage projects, the application scenarios have become more and more complex, and security has become the sword of Damocles in the energy storage industry. According to incomplete statistics from GGII, between 2017 and 2022, more than 70 energy storage safety accidents occurred around the world. Lessons learned from the past tell us that the energy storage industry is not only about technology and production but only by ensuring the safety of the energy storage system can the industry develop steadily and far.

At present, many enterprises are also building energy storage operation and maintenance platforms, but most of them only have data display functions. Therefore, the degree of digitalization of energy storage needs to be deepened urgently.

Taking the electrochemical energy storage system as an example, both EMS and BMS are the main application areas of digital technology. Under the empowerment of cutting-edge technologies such as AI and edge computing, advanced functions such as battery system safety diagnosis, long-life operation and maintenance, and system economic index diagnosis of BMS products will be the core points of differentiated competition among manufacturers in the future.

ESG Matters More

Installing an energy storage system will also become an important business card for companies to open up ESG(environmental, social, and governance) standards.

In recent years, under the ESG trend, companies that meet ESG standards mean that they are in the direction of economic development and industrial upgrading, while companies that do not meet ESG standards are considered to be incapable of sustainable development. Therefore, the installation of energy storage will help enterprises practice the concept of sustainable development.

Although industrial and commercial energy storage has a small capacity, it can participate in electricity market transactions in an aggregated manner through virtual power plants. As an "intelligent porter of electricity", the virtual power plant can not only relieve the power consumption pressure of the grid, but also help distributed energy storage to sell excess electricity.

I&C Energy Storage Solutions of Lithium Valley

We at Lithium Valley offer customized energy storage products and comprehensive energy storage solutions to customers. Currently, we have a range of high and low-voltage household energy storage products as well as industrial and commercial energy storage system products. These products have been certified by international authorities such as CB, CE (EMC&LVD), UL1973, UL9540A, BIS, ISO9001, and ISO14001. Lithium Valley is committed to customer satisfaction and strives to innovate based on customer needs to offer reliable and competitive products and services. With customers in over 50 countries, we have earned a solid reputation in the market.

Free & Flexible

Large-scale power energy storage systems are essential for ensuring the reliable operation of the power grid. They play a critical role in adjusting load curves, smoothing out peaks and valleys, increasing the utilization efficiency of distribution network equipment and lines, contributing to power grid frequency regulation, and enhancing the power supply level of large power grids. Lithium Valley offers industrial and commercial energy storage solutions that are both modular and quickly deployable, making them suitable for flexible expansion. This system is versatile and can be used for various purposes, such as enabling photovoltaic self-consumption, peak shaving, load transfer, backup power supply, and integrating electric vehicle charging stations.

Safe & Reliable

Our container includes a fully integrated environmental control system that supports both the battery management system and comprehensive thermal management, resulting in significantly enhanced stability for the energy storage system. It boasts dual fire protection, and IP65 dust and waterproof ratings, and is designed with both environmental protection and reliability in mind. Additionally, the container comes equipped with a comprehensive fault classification protection mechanism.

Intelligent & Efficient

The system enables real-time online monitoring, smart cloud integration, and real-time analysis. It offers a high capacity, long lifespan, and high discharge rate. Additionally, it supports plug-and-play functionality with the grid, allowing for convenient and efficient grid support and temporary power supply in regional areas.

Rich Application Scenarios

In certain scenarios, such as ensuring the rapid and stable power supply to critical facilities or adjusting load curves in seasonal areas, a dependable mobile power storage system is essential. Our products have a wide range of applications, including industrial parks, factories, commercial buildings, remote or unstable power supply areas, and grid infrastructure.

It's time to take control of your energy usage and boost your business's bottom line with our I&C energy storage solutions. Contact us right now to learn more about how energy storage solutions can benefit your business.