November 17, 2021 Read More →

Global battery storage installations to jump 20-fold by end of decade

Renew Economy ($):

Global battery storage installations will increase 20-fold to a cumulative total of around 358GW with 1.03TWh (terawatt hours) of available storage by the end of 2030, according to new research published by BloombergNEF (BNEF).

The 2021 Global Energy Storage Outlook report says the world’s two biggest electricity markets, the United States and China, will claim more than half of all global installations between them by the end of this decade.

However, other top markets will nevertheless include Australia, India, Germany, the United Kingdom, and Japan.

BNEF says the US and China will remain dominant thanks to the clean power ambitions of both state governments and utilities in the US, and China’s goal of installing 30GW of new battery storage by 2025, combined with stricter renewable integration rules.

BNEF expects the Americas to build more on a megawatt-hour basis, due in large part to the fact that US battery storage plants usually have more hours of storage.

[Joshua Hill]

More: Global battery storage market to hit one terawatt hour by 2030, says BNEF

Comments are closed.