Date: November 24, 2023

NANJING, China - In a significant gathering that underscores the rapid evolution and growing importance of energy storage, HANCHU ESS's Chief Technology Officer, Dr. Bai Yang, represented the company at the Annual Energy Storage Summit 2023 held in Nanjing on November 24.           Organized by the Jiangsu Energy Storage Industry Association, this summit marked its third working meeting of the year, bringing together nearly a thousand representatives from government departments, enterprises, and research institutions to deliberate on the future of the energy storage sector.

Under the theme "Developing Together, Future Together," the summit focused on technical applications, industry development, and policy trends. Dr. Bai engaged in a high-level dialogue centered on "Opportunities and Challenges in the Development of Industrial and Commercial Energy Storage," where he shared HANCHU ESS's unique insights into the sector.  The discussion explored sustainable development paths for industrial and commercial energy storage, reflecting a collective effort to harness the potential of this critical area.

Dr. Bai delved into the applications of energy storage from a user perspective, analyzing peak shaving, electricity pricing strategies, and revenue enhancement for industrial and commercial users. He outlined two main application scenarios: one targeting small commercial and industrial markets, and the other focusing on large industrial demands. For smaller markets, energy storage can increase the consumption ratio of distributed photovoltaic power around noon, enabling a second cycle of charging and discharging to generate additional income. It also facilitates demand management strategies, offering more cost-effective solutions for users.

In the context of large industrial applications, energy storage plays a crucial role in peak shaving and load leveling, supporting high-energy-consuming businesses in adjusting power demand. Dr. Bai emphasized the development of viable revenue estimation methods and the importance of increasing policy engagement to further secure income from energy storage.

With a deep commitment to the industrial and commercial energy storage sector, HANCHU ESS has been focusing on algorithm development and the in-depth analysis of electricity load characteristics. This approach aims to optimize user experience and achieve superior economic benefits in small to medium industrial scenarios, while concentrating on the construction of Virtual Power Plants (VPP) for larger industrial applications to enhance profitability in the future.

Dr. Bai also reiterated the foundational role of safety in the healthy development of the energy storage industry. He called for a deeper understanding of safety issues, continuous cooperation, and a collective effort to strengthen industry safety standards, creating a well-ordered development environment.

The summit served as a catalyst for stakeholders to explore new development opportunities, seek new drivers for growth, and expand into new areas. Looking forward, HANCHU ESS is set to enhance the core competitiveness of its industrial and commercial energy storage products, focusing on high-quality development as a priority. By coordinating industry development and technological breakthroughs, the company aims to accelerate its expansion into new "blue oceans," crafting comprehensive solutions that will power high-quality growth and inject dynamic energy into the sector.