Solar photovoltaic (PV) companies drive energy storage boom amid intense market competition | REVE News of the wind sector in Spain and in the world

Over the past year, the solar industry has faced intense competition, with prices close to cost. The surge in energy storage, attracting even non-solar companies, is not surprising. As a result, the energy storage market quickly shifted from a “blue ocean” to a “red ocean.” Many energy storage product sellers report selling at cost, with no room for further price cuts. Prices for conventional storage systems have dropped from 2 RMB/Wh at the end of 2022 to 0.8 RMB/Wh. Within six months, bidding prices fell by a third, with severe product homogenization and price wars.