The domestic energy storage market is experiencing a violent shock of "increased volume and falling prices". PetroChina Jichai Power recently launched a new round of energy storage equipment procurement, purchasing 1.2GWh of DC-side energy storage systems, and explicitly requiring the use of 314Ah lithium iron phosphate cells. The bidding limit price is as low as 0.363 yuan/Wh, a 40% decrease from the same period last year. This price has approached the industry's cost red line, forcing lithium-ion battery technology to accelerate iteration.
Since 2024, Jichai Power has locked in 314Ah lithium-ion battery packs in 7 rounds of bidding, and only four leading manufacturers such as CATL and EVE Energy have won the bid. Behind the price war is the internal roll of technology: 314Ah lithium-ion battery packs gradually replace old models with higher energy density and cycle life (≥6000 times), driving down unit costs. At present, the price range of 314Ah lithium-ion batteries is 0.27-0.34 yuan/Wh, and the average price of 5MWh DC-side battery compartments has fallen below 0.43 yuan/Wh.
Market competition is becoming increasingly cruel. From January to April 2024, the scale of domestic new energy storage procurement reached 126GWh, of which lithium-ion battery energy storage systems accounted for more than 94%, but the average bid price fell by 6.6% month-on-month. Leading companies seize market share through scale effects and technological upgrades: CATL, BYD and other companies have won bids of more than 1.5GWh, while small and medium-sized manufacturers are forced to withdraw due to less than 20% capacity utilization.
In terms of technical routes, lithium iron phosphate energy storage still occupies the absolute mainstream (accounting for 94% of procurement demand), but all-vanadium liquid flow, sodium battery and other routes have begun to penetrate. It is worth noting that the overseas market has become a buffer: CATL and BYD's overseas orders increased by 50% year-on-year, and European household storage and large-scale projects in the Middle East have become new growth points.
Industry experts warn that the price of lithium-ion batteries may continue to fluctuate as the marketization of electricity prices approaches. Only companies that continue to optimize battery cell performance and reduce system costs can survive in this "elimination competition".
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