The FusionSolar Global Energy Storage Summit, 2023 edition, took place in Singapore, with the theme of “Making the Most of Every Ray.”
The ideas on best practices and development strategies for large-scale PV and energy storage projects were exchanged by over 400 PV industry leaders, technical experts, associations and ecosystem partners at the event.
Charles Yang, Huawei Senior Vice President and President of Global Marketing, Sales and Services at Huawei Digital Power, said, “The carbon neutrality drives the PV and energy storage industries to embrace great development opportunities. As technologies continue to advance, the levelised cost of electricity (LCOE) for PV systems will continue to decrease. The commercial value of PV power generation far surpasses that of fossil fuels, but a high renewable penetration will impact the stability of power grids. Amid these opportunities and challenges, Huawei Digital Power continues to innovate and promote the convergence of bits and watts, as well as the convergence of PV and energy storage systems (ESS), building Smart PV and ESS generators that utilize grid forming technology for stable renewable energy integration. Huawei Digital Power works closely with its customers and partners to accelerate the construction of new power systems and the achievement of carbon neutrality goals.”
Edwin Khew, Chairman of the Sustainable Energy Association of Singapore (SEAS), remarked , “ PV is Singapore’s most promising renewable energy source. Singapore is working toward achieving a new solar target of at least 2 gigawatt-peak (GWp) by 2030 and he also detailed its renewable electricity import project, which aims to enhance energy security and sustainable development through a series of initiatives.”
Robert Liew, Director of APAC power and renewables research at Wood Mackenzie, pointed out, “The market evolutions and technology revolutions have disrupted legacy business models, creating a new energy landscape. The unidirectional flow of supply-demand has been replaced with a bidirectional flexible energy network in each phase of power generation, transmission, distribution, storage and consumption, reshaping the planning and operation of the electric power market. By 2032, the global annual capacity of newly installed PV is projected to increase five-fold to reach 100 GW, and the global annual capacity of newly installed energy storage will increase eight-fold, surpassing 300 GWh. This will mark the beginning of a golden era of development.”
Ussama Rai, Director of PV and BESS solutions at Huawei Digital Power, said, “ Huawei’s innovative Smart String ESS architecture is a comprehensive system that integrates electrochemistry, heat dissipation, power electronics, digital technologies and safety designs.” He further informed that Huawei FusionSolar Smart PV+ESS solutions have been utilised in many landmark projects, including Southeast Asia’s largest energy storage project in Singapore, as well as the 1.3 GWh Red Sea project in Saudi Arabia, the world’s first 100% renewable and largest off-grid energy storage project.
The leaders at the summit further revealed that the global energy storage market is booming, with the Asia-Pacific region expected to lead with a market scale of 68% in 2026.
The experts stressed on the need to choose a future-oriented advanced energy storage service system. The new ESS features long-term stability, system safety, proactive prevention and flexible optimisation.
Furthermore, the experts discussed the safety, grid-connection, O&M and power generation efficiency issues faced by large-scale energy storage plants and explored possible solutions. Also, topics such as how the global PV industry can use technological innovation to build green and safe electric power to achieve green and sustainable development, amongst others were discussed.