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Recently, at the 2018 China Western Energy Storage Forum, BYD announced for the first time the strategic transformation of domestic energy storage: BYD will not directly (independently) participate in the bidding of domestic energy storage projects, focus on developing energy storage products, and provide various battery energy storage equipment for new energy (energy storage) project developers and power service providers.

Although BYD Energy Storage has made a detailed description on its official WeChat, there are still many doubts in the industry about BYD's withdrawal from direct competition energy storage projects. Now let's listen to Zhang Zifeng, the marketing director of the 14th Business Division of BYD and the chief engineer of the Electric Power Academy, talk about the reasons for the company's energy storage strategy choice and the current situation of the domestic energy storage market.

1. Question: How did you choose Xining to suddenly announce the adjustment of domestic energy storage strategy and stop participating in domestic project bidding?

Zhang Zifeng: At the beginning of this month, we were invited to participate in the 2018 China Western Energy Storage Forum held in Xining. Two days before the meeting, I convened several key personnel in charge of marketing in our Electric Power Academy for a meeting. It was decided to make a clear statement while many peers were present.

But this does not mean that we withdraw from or dilute the domestic energy storage market. The exact statement of this market strategy adjustment should be that BYD will not directly (independently) participate in the bidding of domestic energy storage projects, focus on developing energy storage products, and provide various battery energy storage equipment for energy storage project developers and power service providers.

In fact, we are also like this in foreign countries, providing products for power service providers in various countries. We still welcome you to cooperate with BYD through "joint bidding", "support bidding" or third-party leasing.

2. Q: There are several guesses from the outside world. First, some people think that this is a marketing event planned intentionally, so we should focus on BYD's products; Also, I wonder if there is any financial problem in BYD? How do you think about it?

Zhang Zifeng: After we announced this strategy adjustment, many friends called me and said if you had any problems? Later, I made a unified answer on our WeChat official account, and also made a supplementary explanation.

The real consideration is that the domestic energy storage market is very hot now, and everyone is fighting too hard. But at the same time, the maturity and scale of the market are far from those abroad. Our current main market is overseas, where there are not so many human relations involved.

To bid independently in China, we need to deal with the government and provincial grid companies from top to bottom. We are not good at this. If BYD goes to bid for projects alone, I believe we can definitely get some projects based on our strength, but that would involve too much energy beyond technology, so we decided to move back first. BYD is good at processing and manufacturing energy storage equipment, which is our job.

3. Question: What is the current development status of BYD's energy storage sector?

Zhang Zifeng: BYD Electric Power Academy has been established for ten years. In addition to charging piles, its main work is to store energy. We have about 500 people in total, and more than one-third of the R&D personnel. At present, the energy storage battery accounts for about 3% of the battery of the whole company.

We participated in the energy storage demonstration project of the two power grids very early. At present, our main market is overseas. As of the second quarter of 2018, the global order signing volume was about 570MWh, including more than 100 energy storage containers exported to the United States and more than 200 containers exported to the United Kingdom. We are in the same camp as LG, Samsung, Tesla and KOKAM, and we rank third in the world.

BYD's energy storage market is mainly overseas, and it is one of the largest equipment suppliers in the UK energy storage market.

In terms of energy storage market segment, we mainly focus on the fields of micro grid, new energy supporting and auxiliary power services. In addition, there are also some household energy storage products in Australia and Germany.

4. Q: This year's market heat is obviously a big step ahead of previous years. Many investors in photovoltaic, battery and other industries are entering this industry. How do you judge?

Zhang Zifeng: This year, we can clearly feel that many enterprises have joined the competition in the energy storage market, which is a good thing, indicating that everyone is optimistic about this emerging field. However, it does not rule out that some companies seek a theme to create momentum just for the purpose of capital concept.

We have a customer in the UK, which is a power service provider. Its energy storage revenue has 13 kinds, and the investment can be recovered in only two or three years. The industry development has been very mature and sophisticated. This presupposes that the UK has a complete and open electricity service market.

Therefore, we believe that China's battery energy storage market is in its start-up stage, and when it will break out depends on two factors. First, the power market is fully open; Second, the proportion of new energy power generation has reached more than half.

If the electricity market is not open, and the prospect of energy storage profitability is always in a fuzzy state, the energy storage project cannot get rid of the demonstration stage, and the return on investment cannot be calculated through a replicable and predictable model, the market will not be explosive. If the proportion of new energy power generation is too low, the market scale will have a ceiling. At this time, the more companies come in, the more crowded the industry is.

5. Q: You have been calling for the establishment of independent energy storage power plants in some public places and articles before this. What is its unique value?

Zhang Zifeng: The prerequisite for the construction of independent energy storage power plants is that there should be an open electricity market. In the case of uncertain profit prospects and property rights, the so-called large-scale construction of independent energy storage power plants is still a false proposition.

However, with the gradual opening of power markets in some regions, the value of independent energy storage power stations will be further highlighted.

First of all, the investment subject of independent energy storage power station is clear, the property right is clear, and it is easy to accept social capital; Secondly, as a high-quality dispatching resource of the power grid, the independent energy storage power station can directly receive dispatching instructions and participate in the peak regulation and frequency modulation of the local power grid; Third, the independent energy storage power station is also conducive to reducing the burden of new energy power generation enterprises and reducing the additional investment pressure; In addition, the assessment of independent energy storage power plants is relatively easy, and it is easy to implement the government's detailed rules and policies.

6. Q: Several major highlights of energy storage this year, including Jiangsu Zhenjiang, Henan Power Grid, Qinghai Wind Power, and thermal power joint frequency modulation, have greatly expanded the boundaries of the domestic energy storage market. In this case, what are the expectations for policies, including subsidies?

Zhang Zifeng: As soon as the electricity market opens, various energy storage investments will naturally be activated and locked according to market demand. The state does not need to issue any guidance document on energy storage. The United Kingdom has no documents, and the United States has no documents. They just set the rules of the game of the electricity market, and those electricity service providers will automatically unlock, create and provide demand.

Now we are using limited funds to support demonstration projects of various battery routes. In fact, in an open electricity market, power service providers will compare costs and select products, and then force batteries, systems, and materials to reduce costs through scale. As for subsidies, at the level of our subsidy policies, the industry will collapse once we make them. We should still follow the rhythm of the market. Some local governments with financial resources make special policies for specific market segments, which is understandable, but it is not reproducible.

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