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The price of the energy storage industry chain continues to fall

published: 2024-06-03 16:53

Affected by factors such as declining upstream raw material prices, the increase of market supply, and intensified competition, the sales price of energy storage batteries and systems has continued to decline since 2023.

According to the data of SMM on May 28, the price range of prismatic lithium iron phosphate batteries (energy storage type, 280Ah) is 0.31-0.4 yuan/Wh, and the average daily price is 0.36 yuan/Wh. The price range of prismatic lithium iron phosphate batteries (energy storage type, 314Ah) is 0.34-0.45 yuan/Wh, and the average price is 0.4 yuan/Wh.

It is noted that the price of energy storage batteries fluctuated little at this stage, but compared with the same period last year, the average price of prismatic lithium iron phosphate batteries (energy storage type, 280Ah) has dropped by about 45%. According to SMM's calculations, the theoretical cost of 280Ah lithium iron phosphate energy storage cells is about 0.34 yuan/Wh, and energy storage battery companies have been hovering in the cost line, in a state of meager profits or even losses.

As the price of batteries has entered the "0.3 yuan era" per watt hour, the price of energy storage systems has also declined and entered the "0.5 yuan era".

According to CNESA’ database in April, the average bid price of energy storage systems was 0.627 yuan/Wh, down 2% month-on-month and 50% year-on-year, and the winning price range was 0.557-0.864 yuan/Wh. Among them, the average bid price of the 2H energy storage system is 0.627 yuan/Wh, the bid price of the 4H energy storage system is 0.586 yuan/Wh, and the bidding unit price is as low as 0.54 yuan/Wh.

The reporter noticed that in May, in the centralized procurement of some energy storage projects, the prices of 2H energy storage systems and 4H energy storage systems continued to fall. In addition to the further decline in the quotation of the above-mentioned Xinjiang Yumin Tielekti energy storage project system (4h energy storage system), the quotation range of the enterprise for the system integration procurement of the Hebei 300MW/600MWh independent energy storage demonstration project released by Guoshun Technology Group Co., Ltd. is 0.58-0.61 yuan/Wh. This also means that the quotation of 2h energy storage system has also hit a new low.

The price drop has put pressure on the profitability of energy storage companies. For example, in the first quarter of 2024, the performance of energy storage battery companies represented by Great Power declined.

On the energy storage system side, the gross profit margin of HYPER STRONG's energy storage system will decrease by 3.03% year-on-year to 20.02% in 2023. However, in the IPO-related materials, Hipostron said: "At present, the downstream market demand is strong, the supply of lithium carbonate is sufficient, the price shock trend is slowing down, the upstream and downstream markets are effectively linked, and the gross profit margin of the energy storage system will be at a stable and fluctuating level in the short term, and the risk of the company's gross profit margin continuing to decline in the future is expected to be low." ”

The reporter learned from the interview that although there is still room for the price of the energy storage industry chain to fall, the space is already limited.

Great Power said that compared with market competition factors, the market price should still pay attention to the rise and fall of raw materials. The reporter noted that the current price of battery-grade lithium carbonate, the upstream raw material, has not fluctuated significantly, and the price has basically remained at the level of 100,000-110,000 yuan/ton.

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