CITIC Securities: Domestic energy storage installed capacity is expected to grow rapidly in 2026, optimistic about the leading companies in the energy storage industry chain.

CITIC Securities pointed out that on January 30, the National Development and Reform Commission and the Energy Administration proposed the establishment of an independent new energy storage capacity electricity price mechanism on the grid side. It is believed that the landing of a national capacity electricity price policy will help stabilize energy storage income expectations, stimulate the enthusiasm of owners to invest, and is of great significance for the investment decision-making of clients such as state-owned enterprises. With the cancellation of mandatory peak-shaving in Document No. 136, the energy storage industry is transitioning from cost competition to value creation, and investment value is gradually becoming apparent. CITIC Securities believes that domestic energy storage capacity installations are expected to grow rapidly in 2026 and is optimistic about the leading companies in the energy storage industry chain.