CITIC Securities: Domestic Energy Storage Expected to Maintain Growth Momentum and Potential in 2027

36Kr reports that a CITIC Securities research note indicates that since 2026, the installation pace of large-scale domestic energy storage has been slower than expected, with project implementation lagging behind bidding data. CITIC Securities attributes the core cause to the narrowing peak-valley price spread in the northwest region this year, driven by declining load growth, energy storage arbitrage, and increased new wind power installations suppressing late-evening electricity prices. Additionally, rising system operation costs, slow progress in provincial capacity pricing implementation, lithium carbonate price hikes, and delayed grid connection approvals have impacted the economic viability of energy storage, slowing project deployment. Consequently, CITIC Securities has lowered its 2026 forecast for domestic large-scale energy storage new installations to 230-250 GWh, representing a year-on-year increase of approximately 21%-32%. Looking ahead to 2027, with falling lithium carbonate prices, growing demand in regions such as North China, Northeast China, and South China, and the drive from new scenarios like computing power synergy, domestic energy storage is expected to retain growth momentum and potential.