Sungrow’s view on the ceiling of energy storage business: it is expected to reach 1000GWh easily, but it will be challenging to reach 1000GW for photovoltaics

Sungrow's view on the ceiling of energy storage business is that according to the data of the past three years, the compound annual growth rate (CAGR) of energy storage is relatively stable, and photovoltaic and wind power have played a great role in the coupling of energy storage, and the two are mutually reinforcing. With the increase of new energy installed capacity on the power generation side, the proportion of energy storage will also increase, on the one hand, the power will increase, and on the other hand, the duration of storage will increase. The company believes that according to the lowest CAGR of 50%, it is easy to grow to 1000GWh, but it is challenging for photovoltaics to grow to 1000GW.