Sunwoda Energy, a leading provider of comprehensive energy storage solutions, showcased their dedication to the North American solar and storage market at the Solar & Storage Finance USA. The event, organized by Solar Media and co-sponsored by Sunwoda Energy, brought together global experts, developers, financiers, and investors to discuss the challenges and opportunities in the solar and storage industry and foster the industry's growth.
As the host sponsor of this year’s event, Sunwoda Energy presented their cutting-edge energy storage solutions and product technologies, underscoring their unwavering commitment to meet the market demands and contribute to the clean energy transition in the region.
The Inflation Reduction Act (IRA) in 2022 has significantly influenced the solar and storage industries by allocating $370 billion for the US clean energy transition. It is also expected to attract $600 billion in new investments, resulting in an additional 222GW of solar installations over the next decade, which is enough to power 165 million homes in the United States.
Terry Yuan, General Manager of Overseas Sales & Marketing at Sunwoda Energy, was invited to deliver a keynote speech on Synergizing Solar & Storage. He emphasized that the global demand for solar and storage is experiencing explosive growth. The energy storage market demand, measured by shipments, is projected to increase from 40 GWh in 2021 to 110 GWh in 2022, reaching 210 GWh in 2023, and is estimated to reach 300 GWh in 2024.As one of the key energy storage markets, states have implemented energy storage policies to drive rapid industry development and attract more investors and developers.
Terry also highlighted that Sunwoda Energy has leveraged its nearly 30 years of technological expertise and innovative development in new energy. The company has become a comprehensive energy storage solution provider in utility-scale energy storage, commercial and industrial energy storage, residential storage, network energy, and smart energy sectors. Sunwoda Energy combines its self-developed energy storage cells, PACK, BMS, and other core products to provide localized energy storage solutions that address the needs of global customers.
This year, Sunwoda Energy has launched several groundbreaking products, including the 314Ah high-capacity battery cell and the 4MWh/5MWh liquid cooling energy storage system NoahX 2.0, which were showcased at the event following their successful participation in the RE+ 2023 in September.