Classification of energy storage industry

　　The energy storage industry can be classified from different perspectives.

　　Classified by energy storage method:

　　Mechanical energy storage: including pumped storage, compressed air storage, and flywheel storage. Pumped storage is currently the most mature and widely used energy storage technology. It uses electricity from the lower reservoir to the upper reservoir during low electricity loads, and releases water for power generation during peak electricity loads. Compressed air energy storage is the process of compressing and storing air in underground caves or pressure vessels, and releasing the compressed air when needed to drive turbines to generate electricity. Flywheel energy storage is the use of a high-speed rotating flywheel to store energy.

　　Electrochemical energy storage: mainly including lithium-ion batteries, lead-acid batteries, sodium sulfur batteries, etc. Lithium ion batteries have the advantages of high energy density, long cycle life, and fast response speed, and are currently the fastest developing electrochemical energy storage technology. Lead acid battery technology is mature and low-cost, but its energy density and cycle life are relatively low. Sodium sulfur batteries have high energy density and power density, but operate at high temperatures and require high safety requirements.

　　Electromagnetic energy storage: including supercapacitors and superconducting energy storage. Supercapacitors have the advantages of high power density, fast charging and discharging speed, and long lifespan, and can be used for short-term, high-power energy storage applications. Superconducting energy storage utilizes the zero resistance property of superconductors to store electrical energy in the form of a magnetic field, which has the advantages of fast response speed and high efficiency.

　　Thermal energy storage: including sensible heat storage and latent heat storage. Sensible thermal energy storage is the use of material temperature changes to store energy, such as hot water energy storage, molten salt energy storage, etc. Latent heat energy storage utilizes the phase change process of matter to store energy, such as ice storage and phase change material energy storage.

　　Classified by application scenario:

　　Power side energy storage: mainly used for peak shaving, frequency regulation, backup, etc. in power systems. Installing energy storage devices near renewable energy power plants can smooth the output of renewable energy and improve the grid's ability to accept renewable energy.

　　Grid side energy storage: used to enhance the stability, reliability, and flexibility of the power grid. It can discharge during peak load periods of the power grid to alleviate the pressure on the grid; Provide emergency backup power in case of power grid failure to enhance the disaster resistance of the power grid.

　　User side energy storage: including energy storage for industrial and commercial users as well as household users. It can achieve functions such as electricity cost management, backup power supply, and demand response, reducing users' electricity costs and improving power supply reliability.

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