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| Author | Robin Song |
| Updated | July 03, 2024 |
The 2024 global new energy industry event, Intersolar Europe, was held as scheduled. In Munich, many PV and energy-storage manufacturers showcased their products with cutting-edge technologies. InfoLink focused on energy-storage supply-chain price trends, product upgrades, Chinese companies expanding overseas, the progress of Korean manufacturers' technological transitions, and European localization.
Since 2024, 280Ah cell prices in China have declined, hitting USD 48/kWh (VAT included) in the second quarter. China-made 280Ah cells are sold at USD 55/kWh FOB in non-China markets, 13.9% higher than in China. The price gap between China and non-China markets may shrink amid the expansion of Tier-2 Chinese companies.
A survey conducted during the event shows that prices on the DC side range from USD 85-100/kWh (prices are mostly quoted by Chinese makers in FOB terms), while prices on the AC side range from USD 160-200/kWh (some are quoted by non-China makers in DDP terms).
Based on current trends, prices on the DC side in Europe may average USD 140/kWh in Q2 in DDP terms, while those on the AC side average USD 180/kWh in DDP terms. Prices will likely decline by over 20% compared to the fourth quarter of 2023.
The trend of upgrading to larger-capacity cells continued this year.
Similar to SNEC Shanghai, many cell makers displayed 300Ah+ cells. There are various capacity formats, including 305Ah, 306Ah, 314Ah, 315Ah, 320Ah, 345Ah, and 350Ah.
CATL did not showcase 306Ah cells this time, but the 4 MWh+ for utility-scale storage and 407 kWh for C&I storage introduced at Intersolar are based on 306Ah. EVE Energy also displayed 306Ah and 314Ah products. The remaining manufacturers, such as Hithium and AVIC, focus on promoting 314Ah cells.
So far, most manufacturers have completed certification for 314Ah cell products in non-China markets.
Compared with SNEC Shanghai, Intersolar saw fewer 500Ah+ cell products. Only CATL, EVE Energy, REPT, SVOLT, and Trina displayed such products this year.
CATL's 587Ah and EVE Energy's 628Ah showed faster progress at Intersolar. 500Ah+ products will enter non-China markets as early as the first half of 2025, given the leading manufacturers' non-China certification of 500Ah+ products. 300Ah+ cells remain mainstream products during 2024 and 2025.
With increasing cell capacity, ESS keeps transitioning to higher-capacity cells, 5 MWh+ containers, and 400 kWh+ all-in-one systems. These can also be seen this year.
Additionally, some products targeting specific European applications were introduced. For instance, BYD launched 932 kWh C&I energy storage containers with a storage duration of 4 hours to meet Europe's long-duration energy storage needs. For the small-scale C&I sector in Europe (farms, communities, etc.), some companies introduced products with smaller storage capacity (below 100 kWh). For example, Sungrow launched the SBH modular products with a 10-40 kWh capacity.
According to the survey, only leading manufacturers have completed the 5MWh+ product certification process overseas, and the rest will complete it in the second half of 2024. As a result, 5MWh+ products can hardly see vast non-China expansion until the first half of 2025.
Only CATL and BYD displayed 6 MWh+ products at Intersolar. According to InfoLink's research, leading manufacturers are accelerating the non-China certification of 6MWh+ products, likely to be completed by the second quarter of 2025. Thus, 6MWh+ products will see non-China expansions by the second half of 2025.
6MWh+ DC containers & ESS exhibited at Intersolar Europe
Balcony storage received more attention at this year’s expo. Germany's Solarpaket I is the driver that took effect in April 2024, which simplifies the balcony solar process, lexes limit on system efficiency, and improves grid connection methods, directly benefiting the balcony energy storage market.
Balcony storage is similar to the combination of balcony PV and portable energy storage. Leading portable energy storage manufacturers showcased products for the balcony scenario. Jackery, for example, displayed Navi 2000, which adopts a stack-up design that can be adapted to different user needs. The capacity ranges from 2-8 kWh. Anker introduced SOLIX Solar bank E1600 with a capacity of 1.6 kWh and can be expanded.
For Korean makers, both LG and SDI introduced 5 MWh+ products. LG adopted LFP pouch cells, while Samsung SDI continued with NCA/NCM cells. These 5 MWh+ products will likely be mass-produced in 2025.
InfoLink updates the timeline for Korean makers transitioning from NCA/NCM to LFP. LG plans to mass-produce LFP pouch cells JF2 by 2025, while SDI plans to mass-produce LFP aluminum prismatic cells by 2026.
Regarding European makers, FREYR is still in its early development, with only a pilot line for semi-solid-state cells. FREYR aims to expand its production capacity via cell technology licensing. Accordingly, the European local supply chains are still seeing slower progress, as FREYR is.
Chinese companies remain dominant in the energy storage industry, constantly launching 300Ah+ and 500Ah+ cell products, as well as 5 MWh+ and 6 MWh+ ESS products. However, potential concerns exist amid advantages. Specifically, trade barriers worldwide are posing great threats to Chinese companies.
Korean companies, such as LG and SDI, are committed to transitioning to LFP technology for enhanced safety and stability, but it will take time.
European local makers, including FREYR, are sustained in early developments, which can hardly support the region's energy-storage supply chain.
Database contains the global lithium-ion battery market supply and demand analysis, focusing on the cell segment in the ESS sector. We compile detailed data on various businesses' capacity, production, and shipments, as well as segmenting the market applications such as FTM, BTM-C&I, and BTM-Residential.
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