From April 10 to 13, the 12th Energy Storage International Summit and Exhibition was held in Beijing. At the opening ceremony, more than 1000 guests from government departments, scientific research institutes, power grid companies, power generation groups, energy storage industry chains, etc. attended the meeting. Tian Qingjun, senior vice president of Yuanjing Group and president of Yuanjing Energy Storage, was invited to participate in the high-end dialogue of energy storage leaders to discuss hot topics in the energy storage industry. Tian Qingjun pointed out that the "convolution" of energy storage should be viewed rationally in multiple dimensions. The downward price has created huge value for the industry and promoted the prosperity of the industry and technological progress. However, we must also be vigilant against the quality risks under the "convolution" of prices.

First, technological progress keeps costs bottoming out. 一年前储能价格大约在1.3元/wh，那时候行业就在讨论“内卷”，现在的价格已经跌破了0.7元/wh，站在现在看过去，那时候价格并不低。同样，如果再过一年，站在未来看现在，现在的价格也还有下行空间。技术在不断进步，产品、工艺、设计、管理的创新都在让成本不断探底。

Second, only by continuing to reduce costs can we expand the industry. 在最近的3—4年里，风机价格下降了3/4，光伏价格下降了2/3。技术创新推动风电和光伏价格快速下行，推动中国每年新增新能源装机超过2亿千瓦。储能也是如此。如果储能不能持续降本，投资商就没有动力把储能产业做大。不断降低成本，恰恰是储能对行业作出的重大贡献。

The third is to be vigilant against the quality risks brought by "involution". 相比于行业“内卷”，更应关注产品质量。过去几年，风电光伏行业大规模降本，带来了较多的质量事故，希望储能行业能够引以为戒。相比风电光伏，储能行业规模比较小，抗风险能力弱，如果把控不好质量，造成批量质量事故，可能会影响储能行业目前良好的发展势头。

Regarding the impact of government and capital on "involution", Tian Qingjun believes that this issue should be viewed dialectically. It is the government's support for energy storage and capital's optimism about energy storage that have promoted the vigorous development of energy storage. New energy storage companies have continued to emerge, creating the prosperity of the industry. However, when energy storage develops to a certain stage, local governments must reduce their intervention in energy storage, hand over energy storage to the market, and let the market adjust the positioning of energy storage in future new power systems. The early development of energy storage requires the inclination of the government and capital. Without such a process, energy storage would not have the rapid development it has today. In the future, energy storage will develop more healthily through market-oriented mechanisms.

Tian Qingjun said that looking at the global energy storage market, the Asian and African markets are learning from China, and China is sharing the experience and achievements of new energy development over the past 20 years with other developing countries. North America and Europe have relatively developed electricity markets, and their experience is worth learning from. China must not only learn from the power markets of developed countries, but also empower other developing countries to convey China's advanced experience and achievements.

Finally, on how to break through the "inner loop", Tian Qingjun said that technological innovation is the core competitiveness, but product and technology innovation is the most basic innovation. Only product and technological innovation makes it difficult to avoid homogenization. Vision Energy Storage carries out differentiated innovation through full-stack, full-chain, and full-cycle services.

The first is to conduct full-stack self-research. 远景储能具备全栈技术能力，从电芯、PCS、BMS、EMS到SCADA系统都实现了自研自制，可以加速技术创新和产品迭代，保证设计的一致性，提升最终产品的性能表现。2024年远景在去年的基础上将持续加大研发投入，预计会增加50%以上。

The second is the entire industrial chain. 远景也在投资一些下游储能电站。我们认为，交易是储能的本质，会交易的储能代表未来。储能参与调用，参与电力市场，通过更好的交易策略，可以盈利。我们通过自己投资电站，先行先试，将自身的经验和方案分享给客户。目前，远景在山东、安徽、内蒙、浙江、广西等已经建成了各种应用场景的储能电站。

The third is services throughout the life cycle. 全生命周期的服务在国际市场上非常重要。投资商要求对储能电站的全生命周期负责，这也是远景储能在海外推行的EPC+O&M模式。国际市场是高风险市场，如果在生命周期内达不到合同约定的性能指标，将面临巨额罚款，这很考验储能企业的综合实力和技术能力。目前，远景已经和正在同新加坡、英国、澳大利亚、毛里求斯等十几个国家交付各种商业模式的储能电站。

Tian Qingjun said that the focus of Vision Energy Storage Full-Cycle Service is to provide customers with the best trading strategy. In Yuanjing Ordos Zero-Carbon Industrial Park, Yuanjing's energy storage solution provides AI customized trading services for the energy storage power stations in the park. Compared with manual trading, the electricity revenue per hour is increased by 0.13 yuan, which greatly improves the return on investment.

"Trading is the soft power of long-term energy storage." Tian Qingjun pointed out that the value creation of services is more important than products. Vision Energy Storage creates value for customers from the full life cycle dimension, and breaks through "involution" through value creation.