"Orders are booked until 2031." This is no joke, but a true reflection of the energy storage industry in 2026.
According to incomplete statistics from Hangjia Shuo Energy Storage, from January to September 2026, domestic energy storage-related companies announced 324 energy storage orders, a year-on-year increase of 44%; among them, 257 orders disclosed specific capacities, totaling 1,137.02 GWh, a year-on-year increase of 180.11% (click here). The order structure is also changing—fragmented orders are accelerating their concentration into three-year and five-year long-term contracts. For example, EVE Energy (300014) signed a five-year framework agreement for a total of 206 GWh with Fluence, a U.S. energy storage integrator, and Zhongke Hina Battery signed a five-year 10 GWh sodium-ion battery energy storage cell order with South Korea's VOLTA Co., Ltd.
Long-term contracts lock in capacity for the next few years. The capacity utilization rate of leading enterprises is generally maintained above 90%, and some strategic framework agreements have covered 2027 and even beyond. Full order books and full production and sales have gradually become the norm for leading energy storage companies.
▍ Sungrow: Order Visibility Extends to 2027
"The company has a full order book and sufficient production scheduling, with a steady delivery pace at home and abroad, and the annual performance targets will not be lowered." This was the official tone set by Sungrow (300274) previously regarding the overall order status. On October 9, when asked whether orders for the fourth quarter and the first quarter of next year were full, the company further confirmed: "Production and operation are normal, and orders are sufficient."
Order support comes from multiple regions. Residential and commercial & industrial (C&I) energy storage in Europe are accelerating their volume growth, a trend that has become more pronounced after the Strait of Hormuz incident; the U.S. market, on the other hand, is affected by the "safe harbor" policy under the IRA. The company made it clear: orders for 2027 and before are already confirmed, the first half of 2028 is still acceptable, but "safe harbor" projects will end successively after the end of 2028, and from 2029 onwards, non-PFE requirements must be met.
This year, Sungrow's energy storage shipment target is over 60 GWh, and recently disclosed project progress is gradually fulfilling this target. In Cambodia, the EDC Kandal Stung energy storage power station (108.4 MW / 215.6 MWh), in which the company participated in the construction, has completed grid connection and all acceptance tests; in Europe, it provides a 130 MWh energy storage system for Project Blue, the largest private solar park in Albania; in Finland, 600 MWh of the previously signed 1 GWh framework agreement with Swiss energy storage developer Delta Capacity has entered the project implementation stage.
On the production capacity front, the bases in India and Thailand are continuously releasing a combined capacity of 25 GW, the energy storage bases in Hungary (15 GWh) and Mexico (5 GWh) are ramping up production, the 10 GWh energy storage factory in Egypt has started construction (expected to be operational in April 2027), and Poland plans 20 GW of PV inverters and 12.5 GWh of energy storage systems. Industry insiders evaluate that Sungrow's domestic and overseas capacities are fully released, and the effective capacity in 2026 fully matches the record-high shipments.
Additionally, according to incomplete statistics from Hangjia Shuo Energy Storage, in the first nine months of 2026, Sungrow publicly disclosed a total of 23 energy storage orders, with a total capacity of over 33.26 GWh.
▍ Tesla: Cumulative Energy Storage Installations Exceed 36 GWh in Q1-Q3
Recently, Apollo Power, together with Tesla, Gigabyte Technology, Phison Electronics, and Shihlin Electric, jointly established the AIDC and Enterprise Resilient Power Grid Strategic Alliance, and simultaneously signed a 1 GWh energy storage system procurement agreement to explore new infrastructure solutions for the synergy of computing power and energy storage.
In this project, Apollo Power will purchase 260 sets of Tesla Megapack 2XL energy storage systems, with a total scale of 1 GWh. The equipment is expected to be delivered in batches by the end of 2027, and the project is planned to be put into operation in 2028. The final commissioning time will be adjusted according to the grid parallel acceptance and on-site construction conditions, and the project contract amount has not been disclosed to the public.
It is understood that Tesla's energy storage product installations reached 13.7 GWh in the third quarter. In the first quarter of 2026, Tesla's energy storage deployment was 8.8 GWh, and the revenue from energy generation and storage business reached USD 2.408 billion, with the gross profit margin of this business increasing from 28.8% in the same period last year to 39.5%. In the second quarter, energy storage installations reached 13.5 GWh, a quarter-on-quarter increase of 53%, and the cumulative installations in Q1-Q3 exceeded 36 GWh.
▍ EVE Energy: Backlog Orders Exceed Existing Capacity
The company's backlog orders have exceeded its existing capacity, and energy storage shipments will surge next year, while the growth rate depends on the pace of capacity ramp-up—in September, EVE Energy revealed the current status of its energy storage business on the interactive platform.
As early as April, EVE Energy's energy storage battery business was already in a state of "full orders and full production and sales." According to the disclosed data, in the first half of 2026, EVE Energy shipped 44.46 GWh of energy storage batteries, a year-on-year increase of 54.88%. The full-year battery shipment guidance is over 200 GWh, of which energy storage shipments are expected to exceed 120 GWh. According to incomplete statistics from Hangjia Shuo Energy Storage, in the first nine months of this year, the scale of energy storage orders publicly disclosed by EVE Energy has cumulatively exceeded 443.54 GWh.
With full order books, capacity construction is advancing in sync. The second phase of EVE Energy's energy storage base in Malaysia has also been completed, with a planned annual capacity of 10 GWh; the Jingmen base has formed a capacity scale of 200 GWh. The company plans to add about 260 GWh of large LFP capacity, and large LFP products are expected to reach full production in the fourth quarter of this year. Additionally, according to the "2026 Hangjia Shuo Energy Storage Industry Quarterly Insider," from January to July, EVE Energy ranked first with a total capacity expansion scale of 358 GWh, and its capacity expansion frequency was also the highest—8 energy storage battery capacity expansion projects have been publicly disclosed in 2026, with a cumulative investment amount reaching CNY 32.154 billion.
Regarding the forecast for energy storage shipments in 2027, EVE Energy stated that there will be a substantial increase next year, and the growth rate mainly depends on the pace of capacity release. In terms of regions, the overseas proportion will also increase this year, mainly benefiting from the volume growth of overseas international customers. The growth of the company's energy storage segment is mainly concentrated in emerging fields such as power energy storage, grid-forming energy storage, and AIDC.
▍ Hithium: Orders Booked Until the Second Quarter of Next Year
The capacity for the whole year of 2026 has been fully booked, orders are scheduled until the second quarter of 2027, and backlog orders have cumulatively exceeded 10 GWh—this is the Hithium Heze base shortly after it was put into production. The capacity utilization rate of this base has climbed to 70%, and it is going all out to sprint towards the full production target.
At the end of September, the Shandong Heze base ushered in its first international export after mass production—the first batch of ∞Power 6.25 MWh 4h long-duration energy storage system prefabricated cabins, equipped with the world's first ∞Cell 1175Ah long-duration energy storage dedicated battery, was shipped from the Heze base to overseas markets. "Relying on the scaled capacity of the Heze base, we will fully release the manufacturing potential of kilo-ampere-hour-level long-duration energy storage products and promote the global lithium battery long-duration energy storage into the era of large-scale delivery," said Huang Xuantian, head of the Hithium Heze base.
It is not just the Shandong Heze base. The Hithium Chongqing base, previously awarded as the world's first "lighthouse factory" for energy storage batteries, has increased its capacity plan from 56 GWh to 75 GWh, and its actual output value has exceeded CNY 10 billion; the single-line capacity improvement efficiency of the Xiamen base has also been increased to 17.1%.
Wang Pengcheng, co-founder and president of Hithium, pointed out that the company's current annual capacity has been fully locked in, showing a situation of supply falling short of demand, and the proportion of overseas demand is continuously increasing; the company has set a clear target that the proportion of overseas revenue will exceed 50% in 2028. Additionally, according to the "2026 Hangjia Shuo Energy Storage Industry Quarterly Insider," from January to September 2026, the total capacity of Hithium's publicly disclosed energy storage orders has reached 56.94 GWh, involving overseas markets such as Australia, Spain, and Ukraine.
▍ Sunwoda: AIDC Energy Storage Orders Surge 30-Fold
The production line operates around the clock, and orders are booked three months ahead. As early as March, this was the pace at the energy storage production workshop of Sunwoda's (300207) Deyang base. The capacity of this base has reached 110% to over 120% of the rated target, and the fourth and fifth phase production lines are expected to be fully put into production in the second half of the year.
What truly caught the market's attention is the explosion of Sunwoda's AIDC energy storage orders. In the first half of 2026, Sunwoda's AIDC energy storage orders surged nearly 30 times year-on-year, and the production line operated around the clock. According to a report by CCTV Finance's "Economic Half Hour," on the day of the interview, Sunwoda received an urgent order of over CNY 100 million, requiring the urgent delivery of more than 8,000 sets of energy storage battery packs. Liang Rui, vice president and chief sustainability officer of Sunwoda, summarized its current energy storage business in one sentence: orders are full, the capacity utilization rate is at a high level, and the overall business is in an accelerated stage of "scale volume growth."
Shipment data also confirms this momentum. In the first half of 2026, Sunwoda's energy storage system shipments reached 14.7 GWh, a year-on-year increase of 64.98%; energy storage system revenue was CNY 1.77 billion, a year-on-year increase of 76.21%; and the gross profit margin was 18.18%. Overseas customers accounted for over 70%.
▍ Envision: Half of the Capacity of 790Ah Large Cells Locked by Overseas Orders
"Over 50% of the capacity of the 790Ah energy storage cells at the Yichang base has secured orders from overseas customers, achieving delivery upon production and export upon delivery," described Zhao Weijun, president of Envision AESC China, regarding the Yichang gigafactory. This factory is the world's first planned 100 GWh-level energy storage full industry chain base, with a first phase of 40 GWh cell capacity, and a second phase planning 60 GWh cell capacity and 60 GWh energy storage system capacity.
The Yichang base is just a microcosm. Tian Qingjun, senior vice president of Envision Group, publicly stated: "Envision's backlog order scheduling remains full, all bases are operating under high load, and we are continuously shipping to major markets such as Europe, North America, and Australia." Today, Envision AESC's energy storage orders remain saturated, and all production bases maintain full production operation. As of now, Envision AESC has cumulatively delivered over 100 GWh of energy storage cells and participated in over 400 energy storage projects globally.
▍ Great Power Energy: Capacity Utilization Rate Far Exceeds 100%
In September, Great Power Energy (300438) emphasized on the investor communication and interactive platform, "Currently, the company's major energy storage products are basically at full production." This statement has no redundant wording, but combined with the capacity data for the first half of the year, the weight of this statement is not light.
The capacity utilization rate is 165.72%. In the first half of 2026, Great Power Energy's lithium-ion battery output was 8.386 billion Ah, corresponding to an annualized capacity of 10.121 billion Ah, with the capacity utilization rate far exceeding 100%. At the same time, Great Power Energy also made it clear at the first-half 2026 performance briefing that "the main products were basically at full production and full sales in the first half of the year, the demand for energy storage products in the second half of this year is strong, and the capacity is basically saturated; the newly built production lines will be compatible with mainstream cell models such as 314Ah and 588Ah, and are expected to be put into production in the fourth quarter or at the end of the year."
Additionally, in the residential energy storage track, Great Power Energy's position is more prominent. According to Frost & Sullivan's 2026 first-half global residential energy storage cell research report, Great Power Energy topped the list with a 28% global market share of residential energy storage cell capacity.
▍ Ganfeng Lithium Battery: Seven-Month Output Value Approaches Last Year's Full Year
According to a recent report by "Dajiang News," the lithium battery and Pack system production lines of Ganfeng Lithium Battery are currently operating at full load, and the company's orders are booked until the end of 2026, with a clear trend of supply falling short of demand in the market.
Jiang Zhiqiang, deputy director of the Technology Information Center of Ganfeng Lithium Battery, disclosed a set of data: "In 2025, the shipment volume of Ganfeng Lithium Battery's entire energy storage products reached 28.5 GWh, and the output value exceeded CNY 10 billion. From January to July this year, the shipment volume reached 22 GWh, and the output value reached CNY 8.8 billion." The seven-month output value has already approached last year's full-year level.
Ganfeng Lithium Battery is a core subsidiary of Ganfeng Lithium (002460) and a key link connecting upstream resources and downstream applications in its full industry chain layout of lithium resources. Relying on the parent company's global leading advantages in lithium mining, lithium salt processing, and other links, Ganfeng Lithium Battery has covered multiple application scenarios such as energy storage, consumer electronics, two-wheeler battery swapping, and power batteries, with energy storage batteries being its core growth pole.
Capacity construction is also advancing in sync. The 588Ah large cell production line of Ganfeng Lithium Battery has entered the commissioning and trial production stage, and plans to officially start capacity ramp-up in the third quarter of 2026. The supporting 6.26 MWh containerized energy storage product is planned for batch delivery in the fourth quarter of 2026. Currently, the Xinyu base has built 40 GWh of cell capacity and 18 GWh of energy storage PACK capacity, and another 10 GWh energy storage battery production line is under construction in Nanchang.
▍ Highstar Technology: Ensuring Order Delivery through Private Placement for Capacity Expansion
Highstar Technology (001283) frankly stated in recent investor communications that the company's energy storage product capacity is currently at full production and full sales, downstream customer demand continues to grow, and recently signed orders exceed CNY 100 million.
Orders are increasing, but capacity cannot keep up. Regarding the degree of capacity tightness, Highstar Technology described it in detail in the previous relevant private placement prospectus: "The company's existing energy storage production lines are operating at full load. Faced with incremental orders from existing customers and cooperation demands from newly expanded customers, the existing capacity is difficult to undertake large-scale orders, and insufficient capacity has become the main obstacle restricting the expansion of the company's business scale."
This bottleneck is being alleviated through capacity expansion. Highstar Technology's private placement was approved by the CSRC in August 2026, which will promote the construction of energy storage battery projects and plan to add 3 GWh of energy storage cell capacity to undertake the continuously growing order demand. In terms of order visibility, the company focuses on high-prosperity segmented scenarios such as residential energy storage, balcony energy storage, and commercial & industrial energy storage. Overseas demand (especially the European residential energy storage market) remains strong, coupled with the policy drive of the domestic "15th Five-Year Plan" new energy storage installation target (reaching 300 GW by 2030), the order visibility and sustainability for the next 2-3 years are good.
▍ Goldwind: Energy Storage Orders Booked Until the End of the Year
For the energy storage business of the wind power giant, orders are also booked until the end of the year. Currently, Goldwind's (002202) energy storage business is mainly carried out by its subsidiary Goldwind Zero Carbon. In May, a report on the official website of the Jintan District Government recorded such a scene: the production line of Goldwind Zero Carbon's Changzhou energy storage final assembly plant is running at high speed, consuming 10 628Ah large-capacity cells every 60 seconds, with more than 100 frontline workers on 24-hour shift duty.
Zhou Weidong, director of the Changzhou energy storage final assembly plant of Goldwind Zero Carbon's Smart Energy Storage Business Unit, frankly stated in the interview: "For the next 3 months, orders are already in a state of full production." As of the end of March 2026, the overall backlog orders of the Changzhou energy storage final assembly plant have exceeded 12 GWh. Currently, the production scheduling based on 628Ah cell products has also been arranged until the end of the year, with a related order scale of about 5 GWh.
Data shows that Goldwind's business covers 49 countries across six continents, with cumulative installed capacity exceeding 177 GW, energy storage delivery of 16 GWh, and the implementation of over 560 zero-carbon projects.
Note: The content of this article is only for sorting out public information in the energy storage industry, industrial research, and objective analysis. The listed companies mentioned in the article are only for reference as industry chain cases and do not constitute any investment basis. The market has risks, and investment needs caution.