In the context of carbon peaks and carbon neutrality，new energy storage technologies are more widely used. For the power system，energy storage can be used to charge at the trough of electricity consumption and discharge at the peak to increase the level of new energy consumption，enhance the flexible response of the grid，and improve the efficiency of energy conversion and utiliza-tion to a certain extent. This is of great significance to the construction of a green and low-carbon energy system in the province. In order to accelerate the high-quality and large-scale development of energy storage facilities in Henan Province，this article analyzes the cost composition and development trend of new energy storage projects based on the development of energy storage technology and the current policy status，and calculates the investment income of new energy storage projects. Based on the actual situation in Henan，research on the sustainable development model of new energy storage from the three dimensions of the power supply side，the grid side and the user side，and put forward suggestions to improve the adjustment of the electricity price mechanism，optimize the dispatching operation mode，and gradually participate in the development of the power spot market. This article strives to promote the coordinated development of energy storage，new energy，and conventional energy，to build a good situation for the high-quality development of multi-wheel-drive new energy storage in our province，to implement the strategy of changing lanes and lead the way，put forward forward-looking layout of future industries，and make suggestions for preempting emerging industries，so as to promote Henan to gain a firm foothold in the new competitive landscape.