Recently, in November 2023, the purchasing prices of power grid enterprises across the country have been announced one after another. In November, 11 regions including Zhejiang, Guangdong, Hebei, Heilongjiang, Jilin, Liaoning, Qinghai, Shandong, Xinjiang, Fujian, and Guangxi implemented peak electricity prices.
In preparation for the upcoming peak winter season, Heilongjiang and Jilin have started implementing peak electricity prices in November, with maximum electricity price differences exceeding 0.9 yuan/kWh. The region with the largest peak valley price difference in November was the five cities in the Pearl River Delta of Guangdong, reaching 1.3598 yuan/kWh.
According to statistics, in November, there were 20 regions with peak valley electricity price differences exceeding 0.7 yuan/kWh, an increase of 4 regions compared to October. 23 provinces and cities have exceeded 0.6 yuan/kWh, and the peak valley price difference in multiple regions has widened, indicating an increase in the variability of electricity supply and demand at different time periods. This provides an opportunity for the development of new energy storage technologies, which can more effectively balance energy supply and demand and improve energy utilization efficiency. The following are some aspects of the accelerated development of new energy storage:
1、Increase in construction of energy storage projects：With the development of new energy storage technologies, the construction of energy storage projects will increase. The government and energy companies will increase investment and support for energy storage projects to improve the flexibility and sustainability of the energy system. This will promote the large-scale production and application of energy storage equipment, further reduce costs, and accelerate the popularization and promotion of energy storage technology.
2、Expanding the Application of Energy Storage Technology：With the widening of peak valley price differences in multiple regions, the application range of energy storage technology will expand. Traditional energy storage technologies, such as pumped storage and compressed air storage, can more fully utilize price differences to store cheap electricity during low periods and then release it during peak periods. Meanwhile, emerging energy storage technologies, such as lead carbon batteries and hydrogen energy storage, will also be widely applied.
3、Electricity market reform： The widening of peak valley price differences in multiple regions will also promote the reform and optimization of the electricity market. By introducing new market mechanisms and policies, such as peak valley electricity price differentiation and energy trading platforms, the application of energy storage technology can be better incentivized. This will provide a more favorable environment for the operation and profitability of energy storage projects, further promoting the development of energy storage technology.
4、Energy Transformation and Renewable Energy Development：The development of new energy storage technologies will help promote energy transformation and the development of renewable energy. Energy storage technology can solve the volatility and intermittency problems of renewable energy, improve the reliability and predictability of renewable energy. This will accelerate the popularization and application of renewable energy, and promote the replacement of traditional fossil fuels with clean energy.
In short, the widening peak valley price difference in multiple regions provides opportunities for the development of new energy storage technologies, which will accelerate the construction of energy storage projects and expand the application of energy storage technologies. This helps to improve energy efficiency, promote energy transformation, and promote the development of renewable energy.