GLOBAL ENERGY STORAGE LANDSCAPE AND CHINA S GROWING ROLE

Transcription

1 GLOBAL ENERGY STORAGE LANDSCAPE AND CHINA S GROWING ROLE 2 ND SINO-BRITISH WORKSHOP: THE FUTURE OF ENERGY STORAGE TECHNOLOGIES AND POLICY JUN YING 25 MAY 211 Global Energy Storage Landscape and China s Growing Role, 25 May 211 1

2 CONTENTS 1. Bloomberg New Energy Finance 2. Global grid-scale energy storage market overview 3. China s growing role Global Energy Storage Landscape and China s Growing Role, 25 May 211 2

3 BLOOMBERG NEW ENERGY FINANCE (BNEF): COMPANY OVERVIEW North America New York Washington San Francisco South America Sao Paolo BNEF Offices UK/Europe London Zurich Paris Africa Cape Town Asia Pacific Beijing Hong Kong New Delhi Singapore Sydney Tokyo Independent & Transparent Analysis Robust and Proprietary Data Sets Dedicated Access to Global Research Teams Unrivaled In-depth Industry Interactions Global Energy Storage Landscape and China s Growing Role, 25 May 211 3

4 BLOOMBERG NEW ENERGY FINANCE: WHO WE SERVE Policy Makers, Governments & Development Banks Corporations and Utilities Investors Investors across the financing continuum VC/PE, Project Investors (Debt/Equity) Public Market Investors - Specialist/Diversified Funds Pension Funds, Hedge Funds Global Energy Storage Landscape and China s Growing Role, 25 May 211 4

5 CONTENTS 1. Bloomberg New Energy Finance 2. Global grid-scale energy storage market overview 3. China s growing role Global Energy Storage Landscape and China s Growing Role, 25 May 211 5

6 NEW FINANCIAL INVESTMENT IN ENERGY STORAGE, Q1 24 Q1 211 (USD M) Q1 4 Q2 4 Q3 4 Q4 4 Q1 5 Q2 5 Q3 5 Q4 5 Q1 6 Q2 6 Q3 6 Q4 6 Q1 7 Q2 7 Q3 7 Q4 7 Q1 8 Q2 8 Q3 8 Q4 8 Q1 9 Q2 9 Q3 9 Q4 9 Q1 1 Q2 1 Q3 1 Q4 1 Q1 11 Four quarter running average Global Energy Storage Landscape and China s Growing Role, 25 May 211 6

7 PUMPED HYDRO VS OTHER TECHNOLOGIES COMMISSIONED GRID-SCALE ENERGY STORAGE PROJECTS FUTURE GRID-SCALE ENERGY STORAGE PROJECTS Others 1% Others 5% Total = 117.9GW Total = 55.2GW Pumped hydro 99% Pumped hydro 95% Note: Figure includes projects that are under the status of announced / planning begun, financing secured / under construction or permitted. Global Energy Storage Landscape and China s Growing Role, 25 May 211 7

8 GRID-SCALE ENERGY STORAGE PROJECTS WORLDWIDE (MW) 2,25 2, 1,75 1,5 1,25 1, 75 Announced / planning begun Permitted Financing secured / under construction Commissioned 5 25 Sodium sulphur batteries Compressed air energy storage Lithium-ion batteries Lead-based batteries Flywheels Flow batteries Nickel-based batteries Global Energy Storage Landscape and China s Growing Role, 25 May 211 8

9 SODIUM SULPHUR BATTERIES 45% of total commissioned storage 55% of total future storage Global Energy Storage Landscape and China s Growing Role, 25 May 211 9

10 SODIUM SULPHUR BATTERIES HISTORIC INSTALLATIONS 45% of total commissioned storage 55% of total future storage Historic annual new NaS installations by location, (MW) 9 Series6 8 7 Germany United Arab Emirates France 3 2 US Note: Future storage capacity includes projects under the status of announced / planning begun, financing secured / under construction and permitted. Japan Global Energy Storage Landscape and China s Growing Role, 25 May 211 1

11 SODIUM SULPHUR BATTERIES FUTURE INSTALLATIONS 45% of total commissioned storage 55% of total future storage Future installations by status and location (MW) 1,2 1,2 Series6 Series6 1, 1, Malaysia Malaysia 8 8 Mexico Mexico Financing secured / Financing secured / under construction under construction Announced / Announced / planning begun planning begun France France United Arab United Arab Emirates Emirates Japan Japan Note: Future installations include projects under the status of announced / planning begun, financing secured / under construction and permitted. Global Energy Storage Landscape and China s Growing Role, 25 May

12 SODIUM SULPHUR BATTERIES CHALLENGE ONE 45% of total commissioned storage 55% of total future storage Future installations by status and location (MW) 1,2 1,2 1, 1, Series6 Series6 Malaysia Malaysia NGK Insulators the only company producing NaS batteries Financing secured / Financing secured / under construction under construction Announced / Announced / planning begun planning begun Mexico Mexico France France United Arab United Arab Emirates Emirates Japan Japan Current manufacturing capacity stands at 15MW/yr Note: Future installations include projects under the status of announced / planning begun, financing secured / under construction and permitted. Global Energy Storage Landscape and China s Growing Role, 25 May

13 SODIUM SULPHUR BATTERIES CHALLENGE TWO 45% of total commissioned storage 55% of total future storage Future installations by status and location (MW) 1,2 1,2 1, 1, Series6 Series6 Malaysia Malaysia NGK Insulators the only company producing NaS batteries Financing secured / Financing secured / under construction under construction Announced / Announced / planning begun planning begun Mexico Mexico France France United Arab United Arab Emirates Emirates Japan Japan Current manufacturing capacity stands at 15 MW/yr Potential for future cost reduction questionable Note: Future installations include projects under the status of announced / planning begun, financing secured / under construction and permitted. Global Energy Storage Landscape and China s Growing Role, 25 May

14 COMPRESSED AIR ENERGY STORAGE CHALLENGE ONE 41% of total commissioned storage 37% of total future storage CAES technology Fuel input Efficiency Maturity Technological uncertainty Diabatic Yes 4-7% Mature Isothermal No 7-9% Developing Adiabatic No 7% Developing Note: Future projects include projects under the status of announced / planning begun, financing secured / under construction and permitted. Source: NGK Insulators, Bloomberg New Energy Finance Global Energy Storage Landscape and China s Growing Role, 25 May

15 COMPRESSED AIR ENERGY STORAGE CHALLENGE TWO 41% of total commissioned storage 37% of total future storage Future CAES projects 7 projects 1.1GW >$1.3bn? Technological uncertainty Financing of future projects questionable Secured 8% Note: Future projects include projects under the status of announced / planning begun, financing secured / under construction and permitted. Source: NGK Insulators, Bloomberg New Energy Finance Global Energy Storage Landscape and China s Growing Role, 25 May

16 LITHIUM-ION BATTERY PACK COST, TRACTION BATTERY PRODUCTION, 21 3 Total pack cost ($/kwh) 1,2 Annual production (MWh) 36, 1, 3, 8 24, 6 18, 4 12, 2 6, Total size of batteries manufactured per year (MWh) Total cost of pack ($/kwh) Note: Total pack cost includes the battery management system Global Energy Storage Landscape and China s Growing Role, 25 May

17 COST OF LITHIUM-ION BATTERIES VS. OTHER STORAGE TECHNOLOGIES, 21 3 System cost ($/kwh) 1,2 1, Flow battery Sodium sulphur battery 2 Pumped hydro Compressed air (estimate) Total cost of pack ($/kwh) Note: System cost includes the cost of power control electronics and other components required to build a complete storage system. Li-ion battery Global Energy Storage Landscape and China s Growing Role, 25 May

18 CONTENTS 1. Bloomberg New Energy Finance 2. Global grid-scale energy storage market overview 3. China s growing role Global Energy Storage Landscape and China s Growing Role, 25 May

19 ENERGY STORAGE PLAYERS IN LEADING COUNTRIES US total: 39 Europe total: 5 China total: 6 Other Asia: 3 Global Energy Storage Landscape and China s Growing Role, 25 May

20 NON-PUMPED HYDRO ENERGY STORAGE CAPACITY IN LEADING COUNTRIES 1,6 1,6 1,4 1,6 1, 1,4 8 1,2 6 1, US total: 15MW 1,2 Europe total: 55MW 1,4 1,2 1,4 1, Announced / planning begun 1,2 Permitted 8 Financing secured / 1, under construction 6 Commissioned 8 Announced / planning begun4 Permitted 2 Financing secured / under construction Commissioned 1, China total: 9MW Japan: 42MW Announced / begun Permitted Financing se under constr Commission 2 Commissioned Financing secured / under construction Permitted Announced / planning begun Note: Capacities do not include pumped hydro. Global Energy Storage Landscape and China s Growing Role, 25 May 211 2

21 CUMULATIVE SOLAR AND WIND CAPACITY, (GW) e 212e 213e China US EU-27 Note: This does not include offshore wind. Global Energy Storage Landscape and China s Growing Role, 25 May

22 COPYRIGHT AND DISCLAIMER This publication is the copyright of Bloomberg New Energy Finance. No portion of this document may be photocopied, reproduced, scanned into an electronic system or transmitted, forwarded or distributed in any way without prior consent of Bloomberg New Energy Finance. The information contained in this publication is derived from carefully selected public sources we believe are reasonable. We do not guarantee its accuracy or completeness and nothing in this document shall be construed to be a representation of such a guarantee. Any opinions expressed reflect the current judgment of the author of the relevant article or features, and does not necessarily reflect the opinion of Bloomberg New Energy Finance. The opinions presented are subject to change without notice. Bloomberg New Energy Finance accepts no responsibility for any liability arising from use of this document or its contents. Bloomberg New Energy Finance does not consider itself to undertake Regulated Activities as defined in Section 22 of the Financial Services and Markets Act 2 and is not registered with the Financial Services Authority of the UK. Global Energy Storage Landscape and China s Growing Role, 25 May

23 GLOBAL ENERGY STORAGE LANDSCAPE AND CHINA S GROWING ROLE JUN YING, JYING1@BLOOMBERG.NET SHU SUN, SSUN46@BLOOMBERG.NET MARKETS Renewable Energy Carbon Markets Energy Smart Technologies Renewable Energy Certificates Carbon Capture & Storage Power Water Nuclear SERVICES Insight: research, analysis & forecasting Industry Intelligence: data & analytics News & Briefing: daily, weekly & monthly Applied Research: custom research & data mining Knowledge Services: Summit, Leadership Forums, Executive Briefings & workshops Subscription-based news, data and analysis to support your decisions in clean energy, power and water and the carbon markets info@bnef.com