If tariffs on lithium-ion batteries and inverters in China are raised, the cost of energy storage in the United States may rise by 15%

by:CTECHi     2021-07-23

An analysis by a foreign company that conducts global analysis shows that if the Trump administration realizes its previously mentioned threat-raising tariffs on lithium-ion batteries and inverters imported from China to 25%, then 4 hours of battery The installation price of energy storage systems will increase by about 15%. It is understood that the Office of the United States Trade Representative (USTR) included lithium-ion batteries and static converters for energy storage systems on the list of tariff increases on May 13. According to data from the United States International Trade Commission (USITC), the United States imported more than $1 billion worth of lithium batteries from China in 2017, and this figure does not include batteries used in electric vehicles. After China, South Korea and Japan have their value. They were US$519 million and US$440 million, respectively. In terms of battery exports, Asia accounts for the vast majority of the world’s exports. According to a report, the total global lithium battery manufacturing is expected to reach 316GWh in 2019, of which 73% of the lithium battery production capacity is located in China, followed by the United States (12% ), South Korea (7%) and Europe (4%). Although the latest increase in tariffs may not prevent the vigorous development of the US energy storage market, it will also significantly increase battery installation costs, and the deadlocked trade negotiations between China and the United States may put pressure on the US energy storage market. 'The items affected by tariffs are different, but we predict that an additional 25% tariff on lithium-ion batteries and inverters may increase the price of installing a 4-hour battery energy storage system by about 15%.' Analyst Felix Moya said. Considering that lithium-ion batteries account for 40% to 60% of the total installation cost of independent battery energy storage systems in the United States, it can be seen that if tariffs are imposed, the cost increase will be more significant. Trump hopes to reach a negotiation agreement with China during the G20 summit in Japan. The Chinese diplomat said: 'We have noticed that in recent times, the United States has publicly stated on many occasions that it looks forward to arranging a meeting between the heads of state of China and the United States during the G20 Osaka Summit.' With regard to the US$200 billion of goods that the United States has previously imposed , China has also taken countermeasures, that is, imposing a 25% tariff on some US products, including lithium-ion batteries. China's demand for lithium-ion batteries in the United States is not high, and for the booming battery energy storage industry in the United States, the demand for lithium-ion batteries in China is indeed high. According to the latest USenergystorageMonitor data released by WoodMackenzie, in the first quarter of this year, the installed capacity of the US energy storage market hit a record high, reaching 148.8 MW, an increase of 232% compared to the first quarter of 2018. In the fourth quarter of 2018, it grew by 6%. As part of the energy storage market, electrochemical energy storage has a huge demand for batteries.

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