In the field of energy management in the power system, the preferred technology for energy storage is pumped storage. The liquid flow in chemical batteries may first have commercial conditions, followed by lithium-ion batteries. Lead-acid batteries still need to further improve their performance in technology. However, sodium sulfur batteries have long been monopolized by Japan, and there is significant uncertainty about their commercial application prospects in China.

From foreign demonstration studies, it can be seen that in order to provide uniform power output for stable power supply, a battery energy storage system with approximately 20% of the new energy generation capacity and 6-8 hours of storage time is required. It is expected that by 2020, a total of 758 million kilowatts of energy storage equipment will be needed on the power generation and consumption sides.

It is predicted that by 2024, the installed capacity of global energy storage systems will reach approximately 45GW/81GWh. Although the scale of this energy storage capacity appears insignificant compared to the total installed capacity of global power generation, the power system has undergone qualitative changes due to the emergence of energy storage systems.

At present, the power plant level energy storage capacity is mainly used to replace the generation capacity with lower efficiency. At the same time, the rapidly growing off grid energy storage capacity is bound to change the relationship between consumers and power plants.

In the field of electric vehicles, promising energy storage technologies are mainly lithium-ion batteries, and lead-acid batteries also have a certain market. The electric vehicle industry requires 453 million kilowatts of energy storage equipment. The global electric vehicle market has shown a rapid development trend, from only 68000 vehicles in 2011 to 643000 vehicles in 2015, with a compound annual growth rate of 75.36%.

According to the prediction of Zhenli Research, with the continuous breakthrough of new energy vehicle endurance technology and the gradual reduction of core component costs in the future, new energy vehicles are expected to achieve scale in the global passenger car market around 2017. At that time, the global electric vehicle market will also experience a new round of explosive growth.

In the field of home energy storage, it can also be understood as a group of large batteries that store electrical energy for the home. For the vast majority of Chinese households, this is still a relatively unfamiliar household appliance product.