On December 1-3, 2021, the first International New Energy Storage Technology and Engineering Application Conference was held in Changsha. The conference was with the theme of New Energy Storage, New Power and New Development, was jointly sponsored by the Industry and Information Technology Department of Hunan Province, Department of Commerce of Hunan Province, Changsha Municipal People's Government and China Industrial Association of Power Sources. More than 100 enterprises in the energy storage industry attended the conference.?As a leading lithium-ion battery solutions provider for energy storage industry, TWS Technology was invited to participate in the exhibition, and Qiang Lin, Sales Director of TWS Technology, addressed a keynote speech on the topic of Opportunities and Challenges for Overseas Application of Energy Storage System.
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According to BloombergNEF, the global energy storage market is currently growing at a compound annual growth rate of 37% by 2023, and the high growth rate of the industry is expected to continue. From 2021, the United States took the leading position, accounting for 41% of global energy storage deployments, and in 2023, Europe is expected to grow as the world's second-largest energy storage market. However, the overseas energy storage market is facing the problems of high prices and lack of standardization, which undoubtedly increases the complexity and cost of the entire value chain.
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Facing these opportunities and adjustments, TWS Technology has continuously explored the energy storage market, cooperated with integrators of photovoltaic, wind turbine and State Grid backgrounds, and has realized energy storage solutions ranging from modules, packs and integrated systems, providing full-process services from OEM/ODM product design to mass production. In 2021, TWS shipped ESS PACK of 1GWh in total. Qiang Lin said that in the future, TWS Technology will continue to provide customers with high-standard energy storage solutions and actively explore the technical development of new energy storage solutions.
