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Pylontech attended BNEF Summit Shanghai: Insights and Commitments in Energy Storage Industry2023.11.29

Bloomberg New Energy Finance (BNEF) Summit Shanghai 2023 was held On November 27-28 in Shanghai. Over 600 industry leaders, investment experts, and political figures gathered to discuss key issues in the energy sector. The president of Pylontech, Mr. Tan Wen, was invited to participate in the main plenary, discussing the opportunities and challenges in the energy storage industry under the current backdrop and advocating for the industry's sustainable development.

Opportunities and Challenges for Energy Storage Manufacturers

China has surpassed the US and become the global largest battery storage market since 2022. Its annual battery storage installations could reach as much as 38 gigawatts by 2030, up from 6 gigawatts in 2022. However, China’s energy storage companies also face significant challenges. These include the decline in profit margins in the domestic market, the rising export barriers, the ever-crowded competitive landscape, the emergence of alternative storage technologies, and others. What are the key approaches that the energy storage manufacturers focus on to address these challenges? How can companies achieve profitability on both domestic and international fronts?

Regarding relevant topics, President of Pylontech, Mr. Tan Wen, shared a series of insights:

1. Short-Term Fluctuations and Long-Term Development of the Market

Discussing the current overseas energy storage market situation, Mr. Tan Wen stated that the long-term demand logic for energy storage remains unchanged, and the international market holds great potential. In recent years, the overseas energy storage market has experienced rapid development. Last year, influenced by various factors, the market was exceptionally hot, but this was not the norm. Pylontech delivered its first energy storage system in 2013, marking a decade of witnessing the development of the energy storage market. Short-term market fluctuations will not change the market's overall development trend. In the long run, short-term market fluctuations and rational growth can promote a healthier and more sustainable development of the industry.

2. Opportunities and Challenges of Going Global

Discussing the opportunities and challenges that energy storage enterprises face when going global, Mr. Tanwen stated that companies, in the process of internationalization, should leverage their own strengths while adapting to the characteristics of international markets. Over the past 40 years of reform and opening up, China has integrated into the international market, allowing Chinese companies to utilize cost and industrial advantages. Chinese companies going global must ensure legal and compliant operations in foreign countries to avoid irreparable issues. Additionally, attention should be given to understanding the cultures of different countries, constructing a diverse and inclusive corporate culture, truly facilitating the internationalization of the company.

Pylontech is accelerating its internationalization process. It has already registered multiple overseas companies to better serve international customers, understand their pain points, help solve problems, and prepare for the development of next-generation products, creating more value for customers.

3. New Opportunities in Industrial and Commercial Energy Storage

Discussing the domestic industrial and commercial market, Mr. Tan Wen mentioned that the current domestic industrial and commercial energy storage market is "countable," and the market is exceptionally active. There are numerous energy storage enterprises, numbering in the tens of thousands. Companies are rushing to deliver products, but how to ensure the safety, quality, and after-sales service of products, as well as guaranteeing reliable operation for ten or fifteen years, is a more critical concern for the industry.

Pylontech has been delivering industrial and commercial energy storage systems domestically since 2018 and hopes to make a significant contribution to the enormous domestic energy storage market. Pylontech Technology consistently prioritizes quality and safety, aiming to create long-term value for customers and actively contribute to the industry.

During the partner dialogue session at the summit, the head of Pylontech's branding department, BD, shared the initial intention of Pylontech 's collaboration with BNEF to release a global residential energy storage market white paper. In the past two to three years, the residential energy storage market has rapidly developed, but many key issues in the market have not been answered, and there have even been misunderstandings. BNEF, as an authoritative industry institution with a macroscopic view and mature methodology, and Pylontech, as a leading enterprise in the market with rich practical market experience, together can comprehensively understand the current status and future prospects of the residential storage market. The white paper follows the principles of objectivity, comprehensiveness, and continuity, aiming to objectively reflect the current industry situation and interpret the value of household storage for all stakeholders. The household storage market is still in its early stages of development, and concerted efforts from all parties are needed to promote the industry's long-term development.

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