华安电新张志邦：国内大储招标高增，英国大储招标超预期

Demand Side - In April 2025, domestic energy storage tendering reached 10.2GW/30.2GWh, with a year-on-year increase of 90% and a month-on-month decrease of 21%[11] - By March 2025, the domestic installed capacity was 5.35GW/12.9GWh, showing a year-on-year growth of 42.36% in power and 40.60% in capacity[10] - In India, by April 2025, 0.4GWh of battery storage systems were operational, with expectations to reach 0.5GWh by Q2 2025[25] Supply Side - The average price for a 2-hour energy storage system in April 2025 was 0.589 CNY/Wh, reflecting a month-on-month decrease of 12%[4] - In Germany, the energy storage installed capacity in April 2025 was 308.8MWh, a year-on-year decrease of 39.33%[50] - The average single project capacity for domestic energy storage tenders in April 2025 was 284.9MWh, down 20.76% from the previous month[17] Market Trends - In the UK, the newly approved storage project capacity in April 2025 was 1.42GW/2.84GWh, with over 17GWh planned for grid connection throughout the year[63] - The average wholesale electricity price in the core nine European countries in April 2025 was 70.56 EUR/MWh, a year-on-year increase of 32.9%[39] - The total capacity of energy storage projects in India reached 31.64GWh by April 2025, with 19.5GWh tendered in the current year alone[25]