The 16th SNEC International Energy Storage Technology and Equipment Application Exhibition was held in Shanghai from May 24-26, 2023.

With the rapid growth of global demand for energy storage, Chinese energy storage companies have accelerated their evolution. Combined with the exhibition, we summarized the six major trends in the current development of the energy storage industry:

1.The photovoltaic companies entered the energy storage industry comprehensively, and solutions for the integration of PV power generation and energy storage emerged.

2.The progress of the electric battery is still the core driving force of energy storage to reduce costs, long-life electric battery has become the focus.

3.Various fields of enterprises have entered the industrial and commercial energy storage. From the perspective of industry participants, companies such as solar inverters, energy storage batteries, portable power stations and photovoltaics are all involved.

4.Thermal management technology continues to evolve, liquid-cooled energy storage systems have become the mainstream of the industry.

5.Household energy storage products show the trend of appliance, high voltage household storage products increased.

6.The market for large-capacity energy storage continues to heat up, and major household storage enterprises are moving into the large-capacity energy storage market.