Jiangsu Shidai 15MW/52MWh User-side Energy Storage Project

The Jiangsu Shidai 15MW/52MWh user-side energy storage project (hereinafter referred to as “the Project”), invested and constructed by CNTIC Jiangsu Clean Energy Co., Ltd. under Genertec, is located in the Jiangsu Shidai factory at ZGC High-tech Industrial Park in Liyang, Changzhou City, Jiangsu Province. With a total investment of 86.4 million yuan and a designed annual discharge capacity of 27.75 million kWh, construction of the Project lasted about six months. Since it was put into operation in July 2022, all technical and economic indexes of the Project have met the designed standards. Its revenue is more than expected, and its average circling efficiency reaches 86.7%, among the highest in the industry. 

Jiangsu Shidai 15MW/52MWh User-side Energy Storage Station

Power Control System (PCS)

1. Economic Evaluation

In 2021, the Project commissioned the China Energy Storage Alliance to complete the Feasibility Report on the Jiangsu Shidai 15MW/52MWh User-side Energy Storage Project, which concluded that all economic indicators of the Project are reasonable and logical, and that the project would still produce high economic returns even without considering factors such as government subsidies and preferential taxation. 

2. Social Benefits 

The Project reduces users’ power costs. Using energy storage devices to store electricity when the price is lower and discharge power in the peak time allows users to reduce their power costs.

The Project eases the pressure of surging power demand in the peak time, which helps to guarantee power supply. It adopts a strategy of discharging power in the peak time, thus cutting the pressure of peak power demand and reducing the risk of power brownouts.

3. Feasible and Reproducible Business Model

(1) Peak-valley arbitrage

The Project stores electricity in valley or regular price periods and supplies power to users in the peak price period, so as to arbitrage the peak-to-valley price difference. At the same time, users can also save power costs by enjoying dividends of the Project’s economic returns. This mode is highly reproducible.

(2) Supplementary services

The Project can serve as backup capacity to participate in peak-shaving of the power grid. It has signed a demand-side response cooperation agreement with Jiangsu Power Grid Integrated Energy Service Co., Ltd., according to which it charges fees for demand-side responses calculated by numbers and time. This mode is highly reproducible.

The Project won the Golden Vine Awards.

The Project won the 2022 Golden Vine Awards for Practical Innovation in Energy Storage Industry at the 2023 EESA Energy Storage Fair. The Golden Vine Awards is an annual benchmark awarding pageant for the energy storage industry hosted by the China Leader Energy Storage Alliance (EESA), a professional empowerment platform in China’s energy storage industry that was established in 2017. It plays a crucial role in promoting innovation and empowering the development of the industry.