The long-duration energy storage industry is experiencing explosive growth: Policy support and technological breakthroughs are driving new opportunities in a market worth hundreds of billions of dollars.

As the global energy transition accelerates, long-duration energy storage (LDES) is becoming key to addressing the intermittency of renewable energy. The industry has recently seen intensive policy support and technological breakthroughs, continuously unleashing market potential.

I.Policy Dynamics: Countries Accelerate Layout in the Long-Duration Energy Storage Sector

1. ChinaThe National Development and Reform Commission (NDRC) issued the Guiding Opinions on the High-Quality Development of New Energy Storage, clarifying that by 2027, the installed capacity of long-duration energy storage technologies (such as vanadium flow batteries and sodium-ion batteries) needs to reach more than 10GW. Many regions have introduced "New Energy + Energy Storage" subsidy policies.

2. European UnionThe European Association for Storage (EASE) released the "2030 Energy Storage Roadmap," proposing that the EU deploy 200 GWh of long-duration energy storage to ensure grid stability. Germany, Spain, and other countries have included energy storage in the mandatory requirements for renewable energy allocation.

3. United StatesIn May 2024, the U.S. Department of Energy (DOE) announced a $500 million investment to support long-duration energy storage demonstration projects, focusing on the commercial application of flow batteries and compressed air energy storage (CAES) technologies. Previously, the Inflation Reduction Act (IRA) extended the investment tax credit (ITC) for stand-alone energy storage projects to 2032.

II. Technological Frontiers: Diversified Technological Approaches Compete for Market Share

1. Flow BatteriesIn April 2024, Dalian Rongke's 400 MWh all-vanadium redox flow battery storage power station, the world's largest, was connected to the grid in Liaoning Province; Form Energy, a US startup, is piloting its iron-air battery, with costs as low as $20/kWh.

2. Compressed Air Energy StorageThe Jintan Salt Cavern Compressed Air Energy Storage project (300 MWh) in China has been put into operation, with efficiency improved to 65%; Highview Power in the UK deployed its first liquid air energy storage (LAES) project.

3. Thermal Energy Storage and Hydrogen EnergyThe Australian "Sun Cable" project plans to use molten salt thermal storage technology to achieve cross-regional green power transmission; Siemens Energy is collaborating with Norway on a hydrogen storage pilot project to explore the "electricity-hydrogen-electricity" closed-loop application.

III.Market Outlook: Scale May Exceed US$100 Billion by 2030

According to Bloomberg New Energy Finance (BNEF), global long-duration energy storage capacity will increase from 40 GWh in 2024 to 1.5 TWh in 2030, with a compound annual growth rate of 65%.

A McKinsey report points out that as wind and solar power penetration increases, long-duration energy storage will become the core of grid flexibility, and the market size is expected to exceed US$120 billion.

IV.Expert Opinions：
"Long-duration energy storage is the 'last mile' of decarbonizing the energy system," said Dolf Gielen, director-general of the International Renewable Energy Agency (IRENA). "The next five years will be a key window for technological differentiation and cost reduction at scale."

V.Company Dynamics：
CATL、BYDAccelerating mass production of sodium-ion batteries;TeslaMegapack adds 8-hour energy storage system; Startups such as Sweden's Azelio (thermal energy storage) and US Quidnet (mechanical energy storage) have attracted capital attention.Liaoning King Valley Carbon MaterialsCo., Ltd.'s electrode materials will continue to contribute to the industry's development.

Driven by policies, technology, and capital, long-duration energy storage is moving from the demonstration stage to large-scale commercial use and may become the next "super windfall" in the global energy revolution.