CICC's research report believes that the inflection point of global energy storage's rapid growth is coming soon. The number of project bidding/planning in 2024 will increase significantly year-on-year, and the storage time will increase year by year. The basic demand for energy storage will increase with the increase in the proportion of VRE power generation. The proportion of VRE power generation in China/the United States/Europe will exceed 15%/15%/20% respectively. Most of Asia, Africa and Latin America may enter the start-up period at around 10%. Combined with the continuous advancement of multiple factors such as policies/technology/cost reduction in recent years, the inflection point of global rapid growth may come ahead of schedule. It is optimistic that global energy storage demand will maintain high growth in 2025. It is estimated that global energy storage shipments (including communication energy storage) will reach 449GWh in 2025, a year-on-year increase of 31.5%.