popular articles

Energy storage to increase 15-fold by 2030

Energy storage facilities worldwide are expected to reach a total of 411 gigawatts by the end of 2030. That's 15 times more than the 27 GW of storage that was online at the end of 2021.

Please share:

Energy storage facilities worldwide are expected to reach a total of 411 gigawatts by the end of 2030. That’s 15 times more than the 27 GW of storage that was online at the end of 2021. BloombergNEF, forecasts 13% more capacity by 2030 than previously estimated.

An estimated 387 GW of new energy storage capacity will be added worldwide between 2022 and 2030. This represents more than the entire power generation capacity of Japan in 2020.

Helen Kou, energy storage associate at BloombergNEF, states:

“The energy storage industry is facing growing pains. Yet, despite the rising prices of battery systems, the demand is clear. There will be more than a terawatt-hour of energy capacity by 2030. The world’s largest electricity markets, such as China, the U.S., India, and the EU, have all passed legislation that encourages the deployment of energy storage.”

Asia and the United States at the forefront

The United States and China will remain the two largest markets. Indeed, they will represent more than half of the world’s storage facilities by the end of the decade. Europe, however, is catching up with a significant increase in capacity fueled by the current energy crisis.

The expected acceleration of the U.S. market follows the passage of the Inflation Reduction Act in August 2022. Large volumes of funds are allocated to wind, solar and storage tax credits. According to BNEF, this legislation will allow for the construction of approximately 30 GW of energy storage between 2022 and 2030.

Asia-Pacific will be the region that builds the most storage capacity on a megawatt basis by 2030. The rapid growth of the Chinese market is the main reason for this. The Middle East and Africa are expected to lag behind their counterparts.

Geopolitics impacting energy storage

Russia’s invasion of Ukraine has had a clear impact on energy storage deployments in Europe. Record high electricity prices are forcing consumers to consider new forms of energy supply. As a result, this is driving the residential storage market in the short term.

In Europe, the REPowerEU plan and the renewed interest in energy security in the UK are at the forefront. These very ambitious targets for renewables allow for the significant addition of storage planned from 2025. BNEF has more than doubled energy storage deployments between 2025 and 2030 in Europe compared to previous forecasts.

 

According to BNEF forecasts, the majority of energy storage facilities built by 2030, 61 percent of the megawatts, will be used to provide what is known as “energy shifting,” or bringing forward or delaying the time of electricity distribution. Storage and renewable energy projects, especially storage and solar, are becoming more common around the world.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The California-based company Enzinc raises 8 million dollars to expand its battery technology, offering a solution to optimize global energy storage capacity in the context of energy transition.
Alternus Clean Energy finalizes the acquisition of LiiON, a key player in advanced energy storage solutions, to diversify its activities and strengthen its portfolio of strategic clients like Amazon and Walmart.
Alternus Clean Energy finalizes the acquisition of LiiON, a key player in advanced energy storage solutions, to diversify its activities and strengthen its portfolio of strategic clients like Amazon and Walmart.
Envision Energy will deliver 257 MW of capacity and 1028 MWh of energy storage as part of the BESIPPPP program, marking a key step in South Africa's energy transition.
Envision Energy will deliver 257 MW of capacity and 1028 MWh of energy storage as part of the BESIPPPP program, marking a key step in South Africa's energy transition.
The American startup Nanoramic, specializing in advanced battery technologies, has raised $44 million with support from GM Ventures, Catalus Capital, and Samsung Ventures to accelerate the commercialization of its innovative Neocarbonix® technology.
The American startup Nanoramic, specializing in advanced battery technologies, has raised $44 million with support from GM Ventures, Catalus Capital, and Samsung Ventures to accelerate the commercialization of its innovative Neocarbonix® technology.
Rio Tinto announces a $2.5 billion investment to multiply its annual lithium carbonate production in Argentina twentyfold. This strategic project supports the global energy transition.
EVE Energy achieves a breakthrough milestone by mass-producing the first 628 Ah battery. With cutting-edge technology and an innovative 60 GWh factory, the company establishes itself as a key player in the global energy storage market.
EVE Energy achieves a breakthrough milestone by mass-producing the first 628 Ah battery. With cutting-edge technology and an innovative 60 GWh factory, the company establishes itself as a key player in the global energy storage market.
Bolivia, rich in lithium resources, struggles to compete with its "lithium triangle" neighbors. Despite recent projects, technical and institutional challenges hinder its development in this strategic sector.
Bolivia, rich in lithium resources, struggles to compete with its "lithium triangle" neighbors. Despite recent projects, technical and institutional challenges hinder its development in this strategic sector.
Nofar Energy has concluded a 7-year fixed-price agreement for its Stendal project in Germany. This structuring contract marks a key milestone for the energy storage sector in Europe.
Nofar Energy has concluded a 7-year fixed-price agreement for its Stendal project in Germany. This structuring contract marks a key milestone for the energy storage sector in Europe.
Canadian provider EVLO, a subsidiary of Hydro-Québec, has delivered a 12 MW/64 MWh battery energy storage system for a group of buyers in California, with commissioning scheduled for spring 2025.
Germany and Serbia join forces to exploit Europe’s largest lithium reserves. A key challenge for the European automotive industry amid its transition to electric vehicles.
Germany and Serbia join forces to exploit Europe’s largest lithium reserves. A key challenge for the European automotive industry amid its transition to electric vehicles.
The call for autonomous energy storage projects in Bulgaria received proposals totaling €2.55 billion, 4.3 times the allocated budget of €581 million. However, access to funding remains uncertain.
The call for autonomous energy storage projects in Bulgaria received proposals totaling €2.55 billion, 4.3 times the allocated budget of €581 million. However, access to funding remains uncertain.
The rise in energy price volatility is boosting battery investments in Australia, strengthening their key role in the energy transition.
The rise in energy price volatility is boosting battery investments in Australia, strengthening their key role in the energy transition.
The Moselle region welcomes the "fourth largest" energy storage facility in France, a key step toward integrating renewable energy and managing the grid effectively.
Stellantis and Zeta Energy launch a partnership to develop lithium-sulfur batteries. Promising lightweight construction, extended range, and reduced costs, this technology could transform the electric vehicle industry by 2030.
Stellantis and Zeta Energy launch a partnership to develop lithium-sulfur batteries. Promising lightweight construction, extended range, and reduced costs, this technology could transform the electric vehicle industry by 2030.
CPS Energy and OCI Energy partner to develop a 120 MW/480 MWh energy storage system in Bexar County, Texas, as part of the Vision 2027 plan to strengthen San Antonio’s sustainable energy capacity.
CPS Energy and OCI Energy partner to develop a 120 MW/480 MWh energy storage system in Bexar County, Texas, as part of the Vision 2027 plan to strengthen San Antonio’s sustainable energy capacity.
Grenergy is turning to Germany and the United States for its energy storage projects in response to the growing needs of data centers and complex energy markets.
Grenergy is turning to Germany and the United States for its energy storage projects in response to the growing needs of data centers and complex energy markets.
Ace Green Recycling merges with Athena Technology Acquisition Corp. II to accelerate its development, with plans for expansion in Texas and specialized technology in energy storage for lead and lithium-ion batteries.
Eos Energy Enterprises strengthens its position in the energy transition with a loan guaranteed by the U.S. Department of Energy. This funding supports zinc battery production expansion and the creation of hundreds of jobs in the U.S.
Eos Energy Enterprises strengthens its position in the energy transition with a loan guaranteed by the U.S. Department of Energy. This funding supports zinc battery production expansion and the creation of hundreds of jobs in the U.S.
LG Energy Solution and General Motors announce a partnership to create advanced prismatic battery technology for future electric vehicles, strengthening their 14-year strategic collaboration.
LG Energy Solution and General Motors announce a partnership to create advanced prismatic battery technology for future electric vehicles, strengthening their 14-year strategic collaboration.
The sale of Harmony Energy Income Trust's battery portfolio could redefine market benchmarks in the UK. Investors are closely watching the sector's ability to attract premiums amid uncertain conditions.
The sale of Harmony Energy Income Trust's battery portfolio could redefine market benchmarks in the UK. Investors are closely watching the sector's ability to attract premiums amid uncertain conditions.
ABO Energy sold two stand-alone battery projects to Électricité de France (EDF), enhancing local energy storage capacity with a total of 616 MWh. A decisive step for stabilizing South Africa’s power grid.
The Corazon Energy Storage project, with a capacity of 150 MW / 600 MWh, will support grid reliability and renewable energy integration in New Mexico, bringing the state closer to its clean energy goals by 2045.
The Corazon Energy Storage project, with a capacity of 150 MW / 600 MWh, will support grid reliability and renewable energy integration in New Mexico, bringing the state closer to its clean energy goals by 2045.
Under the weight of colossal debt, Northvolt seeks protection under the U.S. Chapter 11 law. The departure of CEO Peter Carlsson marks a critical turning point for the company, once a European flagship in the battery industry.
Under the weight of colossal debt, Northvolt seeks protection under the U.S. Chapter 11 law. The departure of CEO Peter Carlsson marks a critical turning point for the company, once a European flagship in the battery industry.
Element Energy has commissioned a 53 MWh facility using repurposed electric vehicle batteries, providing an innovative and eco-friendly solution for energy storage on the ERCOT grid.
Element Energy has commissioned a 53 MWh facility using repurposed electric vehicle batteries, providing an innovative and eco-friendly solution for energy storage on the ERCOT grid.

Advertising