In the wave of energy change, energy storage technology has become a key player with its unique value. Recently, China Energy Storage Network learned from Berkshire Hathaway's 2024 annual shareholder meeting that both Buffett and his successor Abel expressed high expectations and attention to the energy storage industry.

energy storage

The shareholders' meeting was held grandly in Omaha, the United States, on the evening of May 4, Beijing time, attracting the attention of tens of thousands of investors around the world. Bill Gates, Apple CEO Tim Cook and other industry giants also attended the event. At the meeting, Buffett and Abel discussed in depth the importance of energy storage and battery technology, as well as long-term planning in the renewable energy field.

Buffett emphasized that it is Berkshire Hathaway's mission to ensure that users can enjoy stable power supply every day. He pointed out that although fossil energy once occupied a dominant position, in the face of the current challenges of energy change, we must turn our attention to energy storage technology. Abel further pointed out that although current energy storage battery technology still has economic challenges and short battery life, these problems will eventually be solved with the continuous advancement of technology.

Finding a balance between technological innovation and traditional energy sources to ensure the stability and reliability of power supply is Abel's advice to investors. He emphasized that policies, regulations and regulatory requirements vary in different regions, and investors must fully consider local environmental and policy factors when making energy investments.
The statements made by Buffett and Abel undoubtedly injected strong confidence into the energy storage industry. In fact, Tesla’s recent financial report data also proves the huge potential of the energy storage business. In the first quarter of this year, Tesla’s energy storage deployment continued to increase, reaching 4.1 GWh, setting a record high. The energy generation and storage business has achieved significant growth in revenue and gross profit, making it one of Tesla's highest-margin businesses.

The global energy storage market is also showing a booming trend. In the European market, especially in Germany, Italy, Spain and other places, energy storage projects maintained rapid growth in the first quarter. As the de-banking process comes to an end, the European market is expected to return to a steady growth track. The Italian energy storage market is driven by favorable policies and will further integrate renewable energy power generation facilities in the future.

At the same time, the U.S. market has maintained rapid growth for a long time, while emerging markets such as Australia, South Africa, and Southeast Asia are expected to become new sources of power for household savings growth in the future. Facing fierce competition in the global market, Chinese energy storage companies are accelerating the expansion of their layout in the three aspects of industrial chain, track and market, and developing towards a diversified model of "integration", "multiple tracks" and "full market".

Looking to the future, the energy storage industry will continue to lead the global energy revolution and provide strong support for the sustainable development of the global economy. Investors should pay close attention to developments in this field and grasp the opportunities and challenges.